ExxonMobil

ExxonMobil Corporation stands as the world's largest investor-owned oil and gas company by revenue and market capitalization, with a legacy that extends back to the formation of Standard Oil in 1870 by John D. Rockefeller. The company was officially formed on November 30, 1999, through the historic $81 billion merger of Exxon and Mobil, the largest merger in history at that time. With operations spanning more than 200 countries and territories, ExxonMobil has established itself as a global energy leader, managing 21 refineries worldwide with a global average refining capacity of 4.6 million barrels per day.

The company operates through three primary business segments: Upstream (oil and gas exploration and production), Product Solutions (refining and chemicals combined in 2022), and Low Carbon Solutions. ExxonMobil's integrated business model sets it apart, with 80% of its refining capacity integrated with chemical or lube basestocks, and more than 90% of chemical capacity integrated with refineries or natural gas processing plants. This integration provides significant operational synergies and competitive advantages. The company markets fuels, lubricants, and chemicals under four iconic brands worldwide: Esso, Exxon, Mobil, and ExxonMobil.

In 2024, ExxonMobil reported revenues of $339.24 billion and earnings of $33.7 billion, generating strong cash flow from operations of $55.0 billion. The company maintains a workforce of 61,000 employees globally and holds a market capitalization of approximately $491 billion as of late 2024. Key growth areas include the Permian Basin, where production is projected to grow from 1.5 million oil-equivalent barrels per day in 2024 to 2.3 million by 2030, and offshore Guyana, where the company has made multiple discoveries since 2015 and operates the highly successful Liza field.

ExxonMobil is actively positioning itself for the energy transition through its Low Carbon Solutions division, pursuing up to $30 billion in lower emissions investment opportunities by 2030. Major initiatives include a low-carbon hydrogen facility in Baytown capable of producing up to 1 billion cubic feet of virtually carbon-free hydrogen per day with 98% CO2 capture, and over a million metric tons per year of low-carbon ammonia production. The company continues to return substantial capital to shareholders, with $36.0 billion distributed in 2024 and plans to extend its annual $20 billion share-repurchase program through 2026, reinforcing its commitment to delivering superior shareholder returns while investing in future energy solutions.