History of Exxon Mobil - Essay Example

In 1972, Standard Oil Company (New Jersey) changed its name to Exxon Corporation with other subsidiaries and affiliates, including Humble also adopting the name Exxon. Exxon had established itself in every phase of the oil industry before merging with Mobil Company in 1999.  Exxon dealt in oil transport via pipelines and also owns the largest fleet of tankers among its peers. Exxon Mobil Corporation comes second after BP as the world's largest integrated oil firm. The company runs oil and gas discovery, production, haulage as well as marketing in over 200 countries around the world (ExxonMobil, n.d.). The company is also a major player in the manufacturing of petrochemicals (Rienstra, Linsley & Beaumont Chamber of Commerce, 2003).

In 2014 quarter 4, Exxon Mobil recorded a higher decrease in total revenue year on year by -22.22 per cent, which was faster compared with its competitors’ overall decrease of -16.91 over the same period. Exxon Mobil also recorded a net margin of 7.64 per cent, thus achieving higher profitability compared to its competitors, including Royal Dutch Shell, BP, and Chevron (CSIMarket, 2014).