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{{Infobox_Company |
:''Petrol '''(petroleum spirit)''' redirects here. For the seabird, see [[petrel]].''
company_name = Exxon Mobil Corporation |
company_logo = [[Image:Exxon Mobil Logo.svg|250px|center|]] |
company_type = [[Public company|Public]] ({{NYSE|XOM}})|
company_slogan = "Taking on the world's toughest energy challenges" |
foundation = [[1999]] (merger) <br /> [[1911]] ([[Standard Oil of New Jersey]]) <br /> [[1911]] ([[Standard Oil of New York]]) <br /> [[1882]] ([[Standard Oil]]) |
location = [[Irving, Texas]], [[USA]] |
key_people = [[Rex W. Tillerson]] (Chairman/CEO) |
num_employees = 83,700 |
industry = [[List of petroleum companies|Oil and Gas]] |
products = Fuels, Lubricants, [[Petrochemicals]] |
revenue = $370.680 Billion [[United States dollar|USD]]([[2005]])|
net_income = {{profit}} $36.130 Billion [[United States dollar|USD]] ([[2005]])|
homepage = [http://www.exxonmobil.com/ www.exxonmobil.com]
}}
'''Exxon Mobil Corporation''' or '''ExxonMobil''' ({{nyse|XOM}}) is the largest [[publicly traded]], integrated [[oil]] and [[natural gas|gas]] company in the world, formed on [[November 30]], [[1999]] by the merger of [[Exxon]] and [[Mobil]]. It is the sixth-largest company in the world as ranked by the [[Forbes Global 2000]] and the largest company in the U.S. as ranked by the [[Fortune 500]]. It is the largest of the six oil "supermajors," which also include [[BP|BP (formerly British Petroleum)]], [[Royal Dutch Shell|Shell]], [[Chevron Corporation|Chevron]], [[ConocoPhillips]] and [[Total S.A.|Total]]. It has the highest [[market value]] of any publicly traded company in the world, and in 2005 was the most profitable. Its operating profit in 2005 was $.08 per gallon of sales for a total of $36.13 billion (an all-time record for any publicly traded company), slightly less than the [[gross domestic product]] of [[Economy of Azerbaijan|Azerbaijan]], while its revenues were slightly less than the GDP of [[Belgium]]. ExxonMobil is a component of the {{DJIA|Dow Jones Industrial Average}}.


The company is bifurcated into a "Downstream" division (marketing, refining, and retail operations) headquartered in [[Fairfax, Virginia]] (a Washington DC suburb), and an "Upstream" division (oil exploration, extraction, shipping, and wholesale operations) headquartered in [[Houston, Texas]]. Although most internal operations are divided along these lines, the company also has several smaller divisions such as Chemicals, Coal & Minerals, and Lubricants.
'''Gasoline''' also called '''petrol''' is a [[petroleum]]-derived [[liquid]] mixture consisting primarily of [[hydrocarbon]]s and enhanced with benzenes to increase octane ratings, used as [[fuel]] in [[internal combustion engine]]s.


The upstream division dominates the company's cashflow, accounting for approximately 70% of revenue. The company employs over 100,000 people worldwide with approximately 4,000 employees in its Fairfax downstream headquarters and 27,000 people in its Houston upstream headquarters.
Many [[Commonwealth of Nations|Commonwealth countries]] use the term '''petrol''' (abbreviated from ''petroleum spirit''). The term ''gasoline'' is commonly used in [[North America]]. The word is commonly shortened in [[colloquial]] usage to "[[Gas (disambiguation)|gas]]" (see other meanings). The term ''mogas'', short for ''motor gasoline'', for use in cars is used to distinguish it from [[avgas]], ''aviation gasoline'' used in [[aircraft]]. This should be distinguished in usage from genuinely [[gaseous]] fuels used in internal combustion engines such as [[hydrogen]].


Overall corporate headquarters are located in [[Irving, Texas|Irving]], a suburb of [[Dallas, Texas]], a comparatively small office of a few hundred (primarily very senior) employees. The company markets products around the world under the brands of [[Exxon]], [[Mobil]], and [[Esso]]; it also owns hundreds of smaller subsidiaries such as [[Imperial Oil|Imperial Oil Limited]] (an oil retailer in Canada) and SeaRiver Maritime.
===Pharmaceutical===
Before [[internal combustion engine]]s were invented in the mid-1800s, gasoline was sold in small bottles as a treatment against [[louse|lice]] and their eggs. At that time, the word "Petrol" was a [[trade name]]. This treatment method is no longer common because of the inherent fire hazard and the risk of [[dermatitis]].


The merger of Exxon and Mobil was unique in American history because it brought together once again the two largest companies of [[John D. Rockefeller]]'s [[Standard Oil]] trust, Standard Oil Company of New Jersey/Exxon and Standard Oil Company of New York/Mobil.
The word petroleum may be derived from [[Old French]] ''pétrole'', meaning [[petroleum]]: see [[#Etymology|Etymology]].


In [[2005]], ExxonMobil replaced [[Wal-Mart]] as the world's largest [[publicly held]] corporation when measured by revenue, although Wal-Mart remains the largest by number of employees. (Both Wal-Mart and ExxonMobil are smaller than certain government-controlled corporations such as [[Saudi Aramco]].)
During the [[Franco-Prussian War]] of [[1870]]-[[1871|71]], ''pétrole'' was stockpiled in [[Paris]] for use against a possible [[Prussian]] attack on the city. Later in 1871, during the revolutionary [[Paris Commune]], rumours spread around the city of ''[[pétroleuses]]'', women using bottles of petrol to commit [[arson]] against city buildings.


==History==
Petrol is also abused as a psychoactive [[inhalant]].
Both Exxon and Mobil were descendants of the [[John D. Rockefeller]] monopoly, [[Standard Oil]]. The reputation of Standard Oil in the public eye suffered badly after publication of Ida Tarbell's classic novel [http://www.amazon.com/gp/product/0486428214/sr=8-1/qid=1152583736/ref=sr_1_1/102-2592003-9404950?ie=UTF8 "The History of Standard Oil"] in 1904, leading to a growing outcry for the government to take action against the company.


By 1911, with public outcry at a climax, the [[United States Supreme Court]] ruled that Standard Oil must be dissolved and split into 34 companies. Two of these companies were [[Standard Oil of New Jersey|Jersey Standard]], which eventually became Exxon, and [[Socony]] ("Standard Oil Company of New York"), which eventually became Mobil.
===Etymology===
The word "gasolene" was coined in 1865 from the word [[gas]] and the chemical suffix -ine/-ene. The modern spelling was first used in 1871. The shortened form "gas" was first recorded in American English in 1905.[http://www.etymonline.com/index.php?search=gasoline]
Gasoline originally referred to any liquid used as the fuel for a gasoline-powered engine, other than diesel fuel or liquefied gas. Methanol racing fuel would have been classed as a type of gasoline.[http://www.window.state.tx.us/taxinfo/audit/motorfue/glossary.htm]


In the same year, the nation's [[kerosene]] output was eclipsed for the first time by [[gasoline]]. The growing [[automobile|automotive]] market inspired the product [[trademark]] Mobiloil, registered by Socony in 1920.
The word "petrol" was first used in reference to the refined substance as early as 1892 (it previously referred to unrefined petroleum), and was registered as a trade name by English wholesaler Carless, Capel & Leonard.
[http://www.etymonline.com/index.php?search=petrol] [http://www.chrysler-restorers-sa.org.au/crcmag154.pdf]


Over the next decade, both companies grew significantly. Jersey Standard acquired a 50 percent share in [http://www.humble-inc.com/humblehistory.htm Humble Oil & Refining Co.], a [[Texas]] oil producer. Socony purchased a 45 percent interest in [[Magnolia Petroleum Co.]], a major refiner, marketer and pipeline transporter. In [[1931]], Socony merged with Vacuum Oil Co., an industry pioneer dating back to 1866 and a growing Standard Oil spin-off in its own right.
[[Bertha Benz]] got petrol for her famous drive from [[Mannheim]] to [[Pforzheim]] and back from chemists' shops. In [[Germany]] petrol is called ''Benzin,'' only the usage does not derive from her name but from the chemical [[Benzine]].


In the [[Asia]]-[[Pacific]] region, Jersey Standard had oil production and refineries in [[Indonesia]] but no marketing network. Socony-Vacuum had Asian marketing outlets supplied remotely from California. In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard-Vacuum Oil Co., or "Stanvac," operated in 50 countries, from [[East Africa]] to [[New Zealand]], before it was dissolved in 1962.
===World War II and octane===
One interesting historical issue involving octane rating took place during [[World War II|WWII]]. [[Germany]] received nearly all its oil from [[Romania]], and set up huge distilling plants in Germany to produce gasoline from [[coal]]. In the [[United States|US]] the oil was not "as good" and the oil industry had to invest heavily in various expensive boosting systems. This turned out to have benefits. The US industry started delivering fuels of ever-increasing [[octane rating]]s by adding more of the boosting agents and the infrastructure was in place for post war octane agents additive industry. Good crude oil was no longer a factor during wartime and by war's end, American aviation fuel was commonly 130 to 150 octane. This high octane could easily be used in existing engines to deliver much more power by increasing the pressure delivered by the [[supercharger]]s. The Germans, relying entirely on "good" gasoline, had no such industry, and instead had to rely on ever-larger engines to deliver more power.


Mobil Chemical Company was established in [[1960]]. As of 1999 its principal products included basic [[olefin]]s and [[aromatic]]s, [[ethylene glycol]] and [[polyethylene]]. The company produced synthetic lubricant base stocks as well as lubricant additives, [[propylene]] packaging films and [[catalysis|catalysts]]. Exxon Chemical Company became a worldwide organization in 1965 and in 1999 was a major producer and marketer of olefins, aromatics, polyethylene and [[polypropylene]] along with specialty lines such as [[elastomer]]s, [[plasticizer]]s, [[solvent]]s, process fluids, [[oxo alcohol]]s and [[adhesive]] [[resin]]s. The company was an industry leader in [[metallocene catalyst]] technology to make unique polymers with improved performance.{{cite}}
However, German aviation engines were of the direct fuel injection type and could use methanol-water injection and [[nitrous oxide]] injection, which gave 50% more engine power for five minutes of dogfight. This could be done only five times or after 40 hours run-time and then the engine would have to be rebuilt. Most German aero engines used 87 octane fuel (called B4), while some high-powered engines used 100 octane (C2/C3) fuel.


In [[1955]] Socony-Vacuum became Socony Mobil Oil Co. and in [[1966]] simply Mobil Oil Corp. A decade later, the newly incorporated Mobil Corporation absorbed Mobil Oil as a wholly owned subsidiary. Jersey Standard changed its name to Exxon Corporation in 1972 and established Exxon as a trademark throughout the [[United States]]. In other parts of the world, Exxon and its affiliated companies continued to use its Esso trademark.
This historical "issue" is based on a very common misapprehension about wartime fuel octane numbers. There are two octane numbers for each fuel, one for lean mix and one for rich mix, rich being always greater. So, for example, a common British aviation fuel of the later part of the war was 100/125. The misapprehension that German fuels have a lower octane number (and thus a poorer quality) arises because the Germans quoted the lean mix octane number for their fuels while the Allies quoted the rich mix number for their fuels. Standard German high-grade aviation fuel used in the later part of the war (given the designation C3) had lean/rich octane numbers of 100/130. The Germans would list this as a 100 octane fuel while the Allies would list it as 130 octane.


On [[March 24]] [[1989]], shortly after midnight, the oil tanker [[Exxon Valdez]] struck [[Bligh Reef]] in [[Prince William Sound]], [[Alaska]], [[Exxon Valdez oil spill|spilling more than 11 million gallons (42,000 m³) of crude oil]]. The spill was the largest in U.S. history, and in the aftermath of the Exxon Valdez incident [[Congress of the United States|U.S. Congress]] passed the [[Oil Pollution Act of 1990]]. At the time of the spill, Exxon paid $300 million immediately and voluntarily to more than 11,000 Alaskans and businesses affected by the Valdez spill.{{cite}} In addition, the company paid $2.2 billion to cleanup Prince William Sound, a process that lasted until 1992, when the State of Alaska and the U.S. Coast Guard declared the cleanup complete. Exxon paid $1 billion in settlements with the state and federal governments. Virtually all Valdez compensatory damages were paid in full within one year of the accident, and the trial court commended Exxon for coming forward "with its people and its pocketbook and doing what had to be done under difficult circumstances." However, a $4.5 billion [[punitive damages|punitive]] ruling against Exxon is still under appeal. The punitive damages were set by a Federal court judge in Anchorage,and have twice been vacated by the Ninth Circuit Court of Appeals as excessive.
After the war the US Navy sent a Technical Mission to Germany to interview German petrochemists and examine German fuel quality. Their report entitled "Technical Report 145-45 Manufacture of Aviation Gasoline in Germany" chemically analyzed the different fuels and concluded that "Toward the end of the war the quality of fuel being used by the German fighter planes was quite similar to that being used by the Allies".


In 1998, Exxon and Mobil signed a US$73.7 billion definitive agreement to merge and form a new company called Exxon Mobil Corporation, the largest company on the planet. After [[shareholder]] and regulatory approvals, the merger was completed on [[November 30]], [[1999]].
==Chemical analysis and production==
Gasoline is produced in [[oil refineries]]. Material that is separated from [[crude oil]] via [[distillation]], called natural gasoline, does not meet the required specifications for modern engines (in particular [[octane rating]]; see below), but will form part of the blend.


In 2000, ExxonMobil sold a refinery in Benicia, California and 340 Exxon-branded stations to [[Valero Energy Corporation]], as part of an [[Federal Trade Commission|FTC]]-mandated divestiture of California assets. ExxonMobil continues to supply petroleum products to over 700 Mobil-branded retail outlets in the state.
The bulk of a typical gasoline consists of [[hydrocarbon]]s with between 5 and 12 [[carbon]] [[atom]]s per [[molecule]].


In 2005, its stock price surged in parallel with rising oil prices, surpassing [[General Electric]] as the largest corporation in the world in terms of [[market capitalization]]. At the end of 2005, ExxonMobil reported record profits, reporting U.S $36 billion in annual income, up 42% from the previous year (the overall annual income was an all-time record for annual income by any business, and included $10 billion in the third quarter alone, also an all-time record income for a single quarter by any business). The company and the [[American Petroleum Institute]], the Oil and Chemical industry's lobbying apparatus, however tried to downplay its success in order to avoid criticism from consumers by putting up page-long ads in major American newspapers, such as ''[[The New York Times]]'', ''[[The Washington Post]]'', comparing Oil Industry profits to that of other large industries such as pharmaceuticals and banking. [http://www.nytimes.com/2006/01/31/business/31exxon.html?_r=2&oref=slogin&oref=slogin] [http://news.bbc.co.uk/2/hi/business/4662474.stm]
Many of these hydrocarbons are considered hazardous substances and are regulated by OSHA. The MSDS (Material Safety Data Sheet) for unleaded gasoline shows at least 15 hazardous chemicals occurring in various amounts from 5% to 35% by volume of gasoline. These include big names like [[benzene]] (up to 5% by volume), [[toluene]] (up to 35% by volume), [[naphthalene]] (up to 1% by volume), [[trimethylbenzene]] (up to 7% by volume), [[MTBE]] (up to 18% by volume) and about 10 others.
As an illustration, ExxonMobil's $36 billion in profits came on top of $370.6 billion in revenue, for a profit margin of 9.7%. In other words, Exxon netted 9.7 cents on each dollar of revenue it brought in. By contrast, [[Microsoft]] earned 30.8 cents for each dollar of revenue, and [[Google]] earned 23.9 cents for each dollar of revenue. [[Starbucks]]' profit margin was slightly lower than ExxonMobil's, at 7.8 cents for each dollar of revenue.
Ref: (Tesoro Petroleum Companies, Inc. http://72.14.203.104/search?q=cache:XHR5NMm1NOcJ:www2.firstfuelbank.com/msds/Tesoro.pdf+unleaded+gasoline+chemical+composition&hl=en&gl=us&ct=clnk&cd=2)
Exxon's long-time mascot is a [[Tiger]]; Mobil's mascot is a [[Pegasus]] which dates back to the late 19th century and is one of the oldest marketing symbols still in use.


==Allegations against ExxonMobil==
The various refinery streams blended together to make gasoline all have different characteristics. Some important streams are:
*''Reformate'', produced in a [[catalytic reformer]] with a high octane rating and high [[aromatic]] content, and very low olefins ([[alkene]]s).
*''Cat Cracked Gasoline'' or ''Cat Cracked Naphtha'', produced from a [[Cracking (chemistry)|catalytic cracker]], with a moderate octane rating, high [[olefin]]s (alkene) content, and moderate aromatics level. ''Here, "cat" is short for "[[catalyst]]".''
*''Hydrocrackate'' (Heavy, Mid, and Light), produced from a hydrocracker, with medium to low octane rating and moderate aromatic levels.
*''Natural Gasoline'' (has very many names), directly from [[crude oil]] with low octane rating, low aromatics (depending on the [[crude oil]]), some naphthenes ([[cycloalkane]]s) and zero olefins (alkenes).
*''Alkylate'', produced in an [[alkylation]] unit, with a high octane rating and which is pure [[paraffin]] (alkane), mainly branched chains.
*''Isomerate'' (various names) which is made by isomerising Natural Gasoline to increase its octane rating and is very low in aromatics.


{{SectNPOV}}
(The terms used here are not always the correct chemical terms. Typically they are old fashioned, but they are the terms normally used in the oil industry. The exact terminology for these streams varies by oil company and by country.)


ExxonMobil has been accused of several unethical business practices. [http://www.msnbc.msn.com/id/13137529/] Exxonmobil has further alienated many people through PR missteps and a corporate philosophy perceived as confrontational and "take no prisoners" in nature.
Overall a typical gasoline is predominantly a mixture of paraffins ([[alkanes]]), naphthenes ([[cycloalkane]]s), [[aromatic]]s and olefins (alkenes). The exact ratios can depend on
* the [[oil refinery]] that makes the gasoline, as not all refineries have the same set of processing units.
* the [[crude oil]] used by the refinery on a particular day.
* the grade of gasoline, in particular the octane rating.


Allegations levied against the company include:
Currently many countries set tight limits on gasoline [[aromatic]]s in general, [[benzene]] in particular, and olefins (alkene) content. This is increasing the demand for high octane pure paraffin (alkane) components, such as alkylate, and is forcing refineries to add processing units to reduce the benzene content.


*Global Warning: the World's COMPLEXXON/Gasgate 1963, post-war seizure of the european public sector by means of technology advantage ('pipeline lock-ins') and abusive conduct / industrial dominance in the energy-sector: the Public-Private Partnership 'Gasunie' [http://www.europaque.eu]
Gasoline can also contain some other [[organic compound]]s: such as [[organic ether]]s (deliberately added), plus small levels of contaminants, in particular [[sulfur]] compounds such as [[disulfides]] and [[thiophene]]s. Some contaminants, in particular [[thiol]]s and [[hydrogen sulfide]], must be removed because they cause corrosion in engines.
*Intentional negligence and indifference to the environmental consequences of the Valdez disaster; [http://www.house.gov/reichert/press06/3.24.06.shtml]
*Underfunding its pension plan, although Exxon Mobil currently has enough cash on hand to fund the difference several times over. [http://news.moneycentral.msn.com/provider/providerarticle.asp?Feed=FOOL&Date=20060602&ID=5767150]
*Price gouging in the United States at a retail level; [http://www.commondreams.org/headlines05/0928-03.htm]
*Indifference to the needs of homosexual employees -- domestic partner benefits were ended following Mobil's merger with Exxon. Mobil employees who already had domestic partner benefits were allowed to keep them, but other employees could not add their domestic partners to the benefit plans after the merger. ExxonMobil does offer domestic partner benefits in countries where [[same-sex marriage]] is legal. [http://money.cnn.com/2006/05/09/news/companies/pluggedin_fortune/index.htm]
*Shortchanging retail fuel marketing and lubricants marketing partners (known in the industry as "distributors" or "jobbers") (The marketers won a $1.4 billion judgment against ExxonMobil for anticompetitive practices in federal court in 2003) [http://www.senate.gov/~gov_affairs/042902gasreport/sectioni.pdf]
*Abuse of U.S. corporation law and perpetration of clever marketing schemes to avoid proper responsibility for its actions (For example, after the Valdez disaster, the company took the name "Exxon" out of its tanker shipping subsidiary, renaming it "SeaRiver Maritime," and giving it a separate (but wholly Exxon-controlled) corporate charter and board of directors. The former Exxon Valdez is now the "SeaRiver Mediterranean" and is legally owned by a small, allegedly undercaptialized, stand-alone company, which would have minimal ability to pay out on claims in the event of a further accident. [http://www.fakr.noaa.gov/oil/newsclips/101602exxonv.pdf]
*Human rights violations in the [[Indonesia]]n territory of [[Aceh]]. In June 2001, ExxonMobil became the target of a lawsuit in the Federal District Court of the [[Washington, D.C.|District of Columbia]], under the [[Alien Tort Claims Act]]. The suit alleged that the company knowingly assisted human rights violations, including [[torture]], [[murder]] and [[rape]], by employing and providing material support to Indonesian military forces, who committed the alleged offenses in [[Aceh]]. Human rights complaints involving ExxonMobil's relationship with the Indonesian military first arose in 1992; the company denies these accusations and has filed a motion to dismiss the suit, which is still pending [[as of 2005]]; [http://www.laborrights.org/projects/corporate/exxon/]
*Callous treatment and prejudicial termination of former Mobil employees in favor of their Exxon counterparts during and after the Exxon & Mobil merger;
*Violation of the Bribes & Foreign Corrupt Practices Act (ExxonMobil controls concessions covering 11 million acres (44,500 km²) off the coast of [[Angola]] that hold an estimated 7.5 billion barrels (1.2 km³) of crude. [http://www2.exxonmobil.com/Corporate/Newsroom/Newsreleases/Corp_xom_nr_071201.asp] Questions have been raised about ExxonMobil's actions in securing these concessions&mdash;[[Forbes Magazine]] alleging that "ExxonMobil handed hundreds of millions of dollars to the corrupt regime of President [[José Eduardo dos Santos]] in the late 1990s". [http://www.forbes.com/forbes/free_forbes/2003/0428/084.html]; and
* Trade in violation of economic sanctions against regimes hostile to the United States (In 2003, the [[Office of Foreign Assets Control]] reported that ExxonMobil engaged in illegal trade with [[Sudan]] and along with dozens of other companies had to settle with the United States government for US$50,000 [http://www.cnn.com/2003/LAW/04/14/enemy.trading/index.html].)


==Corporate governance==
===Volatility===
The current Chairman of the Board and CEO of Exxon Mobil Corporation is [[Rex Tillerson]]. Tillerson assumed the top position on [[January 1]], [[2006]] on the retirement of long-time chairman and CEO, [[Lee Raymond]], who received a [http://dorgan.senate.gov/newsroom/record.cfm?id=254000 highly controversial] retirement and severance package of approximately $400 Million.
Gasoline is more volatile than [[diesel]] oil, [[Jet-A]] or [[kerosene]], not only because of the base constituents, but because of the [[additive]]s that are put into it. The final control of [[volatility (chemistry)|volatility]] is often by blending of [[butane]]. The desired volatility depends on the ambient temperature: in hotter climates, gasoline components of higher molecular weight and thus lower volatility are used. In cold climates, too little volatility results in cars failing to start. In hot climates, excessive volatility results in what is known as "vapour lock" where combustion fails to occur. In [[Australia]] the volatility limit changes every month and differs for each main distribution center, but most countries simply have a summer, winter and perhaps intermediate limit. In the United States, volatility is regulated in large urban centres to reduce the emission of unburned hydrocarbons. In large cities, so-called reformulated gasoline that is less prone to evaporation, among other properties, is required.


===Board of directors===
Volatility standards may be relaxed (allowing more gasoline components into the atmosphere) during emergency anticipated gasoline shortages. For example, on [[31 August]] [[2005]] in response to [[Hurricane Katrina]], the United States permitted the sale of non-reformulated gasoline in some urban areas, which effectively permitted an early switch from summer to winter-grade gasoline. As mandated by [[Environmental Protection Agency|EPA]] administrator [[Stephen L. Johnson]], this "fuel waiver" was made effective through [[15 September]] [[2005]] [http://www.epa.gov/katrina/activities/week1.html#aug31johnson]. Though relaxed volatility standards damage [[ozone]] and pollute the air, higher volatility gasoline (which contains less additives than gasoline whose volatility has been artificially lowered) effectively increases a nation's gasoline supply by making it easier for oil refiners to produce gasoline.
Current Exxon Mobil [[Board of Directors|board]] members are:
*[[Michael Boskin]]
*[[William W. George]]
*[[James R. Houghton]]
*[[William R. Howell]]
*[[Reatha King]]
*[[Philip Lippincott]]
*[[Henry McKinnell, Jr.]]
*[[Marilyn Nelson]]
*[[Walter Shipley]]


==Incorporated governance:==
===Octane rating===
The World's COMPLEXXON: http://www.europaque.eu
{{see details|octane rating}}
The most important characteristic of gasoline is its [[octane rating]], which is a measure of how resistant gasoline is to premature detonation which causes [[engine knocking|knocking]]. It is measured relative to a mixture of [[2,2,4-Trimethylpentane|2,2,4-trimethylpentane]] (an [[isomer]] of [[octane]]) and n-[[heptane]]. There are a number of different conventions for expressing the octane rating therefore the same fuel may be labeled with a different number depending upon the system used.


==Energy content==
==Organization==
Gasoline contains about 32 [[megajoule]]s per litre (MJ/l) or 131MJ/US gallon.
<br>Volumetric [[energy density]] of some fuels compared to gasoline:
{| class="wikitable"
! align = "left"|Fuel type
! align ="right"|&nbsp;&nbsp;&nbsp;&nbsp;MJ/l
! align ="right"|&nbsp;&nbsp;&nbsp;&nbsp;[[British thermal unit|BTU]]/[[gallon|imp gal]]
! align ="right"|&nbsp;&nbsp;&nbsp;&nbsp;BTU/US gal
! align ="right"|&nbsp;&nbsp;&nbsp;&nbsp;[[octane rating|Research octane<br> number (RON)]]
|-
| [[Diesel]]
| align ="right"|40.9&nbsp;&nbsp;
| align ="right"|176,000
| align ="right"|147,000
| align ="right"|25<sup>1</sup>
|-
| Gasoline
| align ="right"|32.0&nbsp;&nbsp;
| align ="right"|150,000
| align ="right"|125,000
| align ="right"|91&ndash;98
|-
| [[Alcohol fuel|Gasohol]] (10% ethanol + 90% gasoline)
| align ="right"|28.06
| align ="right"|145,200
| align ="right"|120,900
| align ="right"|93/94
|-
| [[Liquified petroleum gas|LPG]]
| align ="right"|22.16
| align ="right"|114,660
| align ="right"|95,475
| align ="right"|115
|-
|[[Ethanol]]
| align ="right"|19.59
| align ="right"|101,360
| align ="right"|84,400
| align ="right"|129
|-
| [[Methanol]]
| align ="right"|14.57
| align ="right"|75,420
| align ="right"|62,800
| align ="right"|123
|}


ExxonMobil is organized functionally into a number of global operating divisions. These divisions are grouped into three categories for reference purposes:
<small>1 - Diesel is not used in a gasoline engine, so its low octane rating is not an issue</small>


* Upstream
A high octane fuel such as LPG has a lower energy content than lower octane gasoline, resulting in an overall lower power output at the regular compression ratio an engine ran at on gasoline. However, with an engine [[engine tuning|tuned]] to the use of LPG (ie. via higher compression ratios such as 12:1 instead of 8:1), this lower power output can be overcome. This is because higher-octane fuels allow for a higher [[compression ratio]] - this means less space in a cylinder on its combustion stroke, hence a higher cylinder temperature which improves efficiency according to [[Carnot efficiency|Carnot's theorem]], along with less wasted hydrocarbons (therefore less pollution and wasted energy), bringing higher power levels coupled with less pollution overall because of the greater efficiency.
* Downstream
* Chemical


Operating divisions by category are as follows:
The main reason for the lower energy content (per litre) of LPG in comparison to gasoline is that it has a lower [[density]]. Energy content per kilogram is higher than for gasoline (higher [[hydrogen]] to [[carbon]] ratio).


* Upstream
Different countries have some variation in what RON (Research Octane Number) is standard for gasoline, or petrol. In the UK, ordinary regular unleaded petrol is 91 RON (not commonly available), premium unleaded petrol is always 95 RON, and super unleaded is usually 97-98 RON. However both Shell and BP produce fuel at 102 RON for cars with hi-performance engines. In the US, octane ratings in fuels can vary between 86-87 AKI (91-92 RON) for regular, through 89-90 (94-95) for mid-grade (European Premium), up to 90-94 (RON 95-99) for premium unleaded or E10 (Super in Europe)
** ExxonMobil Exploration Company
** ExxonMobil Development Company
** ExxonMobil Production Company
** ExxonMobil Gas and Power Marketing Company
** ExxonMobil Upstream Research Company


* Downstream
==Additives==
** ExxonMobil Refining and Supply Company
===Lead===
** ExxonMobil Fuels Marketing Company
The mixture known as gasoline, when used in high [[Physical compression|compression]] internal combustion engines, has a tendency to ignite early (''pre-ignition'' or ''detonation'') causing a damaging "[[engine knocking]]" (also called "pinging" or "pinking") noise. Early research into this effect was led by A.H. Gibson and [[Harry Ricardo]] in England and [[Thomas Midgley]] and Thomas Boyd in the United States. The discovery that [[lead]] additives modified this behavior led to the widespread adoption of the practice in the 1920s and therefore more powerful higher compression engines. The most popular additive was [[tetra-ethyl lead]]. However, with the discovery of the environmental and health damage caused by the lead, and the incompatibility of lead with [[catalytic converter]]s found on virtually all automobiles since 1975, this practice began to wane in the 1980s. Most countries are phasing out leaded fuel; different additives have replaced the lead compounds. The most popular additives include [[aromatic hydrocarbon]]s, [[ether]]s and [[alcohol as a fuel|alcohol]] (usually [[ethanol]] or [[methanol]]).
** ExxonMobil Lubricants & Specialties Company
** ExxonMobil Research and Engineering Company
** ExxonMobil Global Services Company


* Chemical
In the U.S., where lead was blended with gasoline, primarily to boost octane levels, since the early 1920s, standards to phase out leaded gasoline were first implemented in 1973. In 1995, leaded fuel accounted for only 0.6 % of total gasoline sales and less than 2,000 tons of lead per year. From [[January 1]], [[1996]], the [[Clean Air Act]] banned the sale of leaded fuel for use in on-road vehicles. Possession and use of leaded petrol in a regular on-road vehicle now carries a maximum $10,000 fine in the United States. However, fuel containing lead may continue to be sold for off-road uses, including aircraft, racing cars, farm equipment, and marine engines until 2008. The ban on leaded gasoline was presumed to lower levels of lead in people's [[blood]]stream and led to thousands of tons of lead not being released in the air by automobiles.
** ExxonMobil Chemical Company


Upstream and Chemical operations are headquartered in Houston, Texas, and the downstream operations are headquartered at the heritage-Mobil headquarters in Fairfax, Virginia.
A side effect of the lead additives was protection of the [[poppet valve|valve]] seats from erosion. Many [[classic car]]s' engines have needed modification to use lead-free fuels since leaded fuels became unavailable. However, "Lead substitute" products are also produced and can sometimes be found at auto parts stores.


==Largest Shareholders==
Gasoline, as delivered at the pump, also contains additives to reduce internal engine carbon buildups, improve [[combustion]], and to allow easier starting in cold climates.
As of March 31, 2006:


{| border="0"
In most of [[South America]], [[Africa]], and some parts of [[Asia]] and the [[Middle East]], leaded gasoline is common.

===MMT===
[[Methylcyclopentadienyl manganese tricarbonyl]] (MMT) has been used for many years in [[Canada]] and recently in [[Australia]] to boost octane. It also helps old cars designed for leaded fuel run on unleaded fuel without need for additives to prevent valve problems.

There are currently ongoing debates as to whether or not MMT is harmful to the environment and toxic to humans. However, US Federal sources state that MMT is suspected to be a powerful neurotoxin and respiratory toxin.

===Dye===
Sometimes dyes are added to fuel for identification. However there are different systems in use and this has led to confusion. In the [[United States]] one color scheme dyed one kind of aircraft fuel red while in another color scheme red dye was used for indicating untaxed agricultural diesel. This resulted in contaminated aviation fuel when the very different fuels of similar color were mixed.

===Oxygenate blending===
'''Oxygenate''' blending adds oxygen to the fuel in [[oxygen]]-bearing compounds such as [[MTBE]], [[ethanol]] and ETBE, and so reduces the amount of carbon monoxide and unburned fuel in the exhaust gas, thus reducing smog. In many areas throughout the US oxygenate blending is mandatory. For example, in Southern California, fuel must contain 2% oxygen by weight. The resulting fuel is often known as ''reformulated gasoline'' (RFG) or ''oxygenated gasoline''. The federal requirement
that RFG contain oxygen is being dropped, effective May 6, 2006[http://www.epa.gov/otaq/rfg_regs.htm#usage].

MTBE use is being phased out in some states due to issues with contamination of ground water. In some places it is already banned. Ethanol and to a lesser extent the ethanol derived ETBE are a common replacements. Especially ethanol derived from biomatter such as corn, sugar cane or grain is frequent, this will often be referred to as ''bio''-ethanol. An ethanol-gasoline mix of 10% ethanol mixed with gasoline is called [[Ethanol fuel|gasohol]]. An ethanol-gasoline mix of 85% ethanol mixed with gasoline is called [[E85]]. The most extensive use of ethanol takes place in [[Brazil]], where the ethanol is derived from [[sugarcane]]. Over 3,400 million US gallons (13,000,000 m³) of ethanol mostly produced from corn was produced in the United States in 2004 for fuel use, and E85 is fast becoming available in much of the United States. The use of [[bioethanol]], either directly or indirectly by conversion of such ethanol to ''bio''-ETBE, is encouraged by the European Union Biofuels Directive. However since producing bio-ethanol from fermented sugars and starches involves distillation, ordinary people in much of Europe cannot ferment and distill their own bio-ethanol at present (unlike in the US where getting a BATF distillation permit has been easy since the 1973 oil crisis.)

==Health concerns==
Many of the non-aliphatic hydrocarbons naturally present in gasoline (especially aromatic ones like [[benzene]]), as well as many anti-knocking additives, are [[carcinogenic]]. Because of this, any large-scale or ongoing leaks of gasoline pose a threat to the [[public health|public's health]] and the environment, should the gasoline reach a public supply of [[drinking water]]. The chief risks of such leaks come not from vehicles, but from gasoline delivery truck accidents and leaks from storage tanks. Because of this risk, most (underground) storage tanks now have extensive measures in place to detect and prevent any such leaks, such as [[sacrificial anode]]s. Gasoline is rather [[volatile]] (meaning it readily [[evaporation|evaporates]]), requiring that storage tanks on land and in vehicles be properly sealed. The high volatility also means that it will easily ignite in cold weather conditions, unlike diesel for example. Appropriate venting is needed to ensure the level of pressure is similar on the inside and outside. Gasoline also reacts dangerously with certain common chemicals; for example, gasoline and [[crystal]] [[Drāno]] ([[sodium hydroxide]]) react together in a [[spontaneous combustion]]. It is also one of the few liquids that you are not supposed to vomit out of your system because of its tendency to burn your throat.

Gasoline is also one of the sources of pollutant gases. Even gasoline which does not contain [[lead]] or [[sulfur]] [[Chemical compound|compounds]] produces [[carbon dioxide]], [[nitrogen oxide]]s, and [[carbon monoxide]] in the [[exhaust]] of the [[engine]] which is running on it.

Through misuse as an [[inhalant]], gasoline also contributes to damage to health. [[Petrol sniffing]] is a common way of obtaining a high for many people and has become epidemic in many poorer communities such as with [[Indigenous Australians]]. In response, [[Opal (fuel)|Opal]] fuel has been developed by the [[BP]] Kwinana Refinery in Australia, and contains only 5% [[aromatics]] (unlike the usual 25%) which inhibits the effects of inhalation.

==Usage and pricing==
{{sect-stub}}
[[Image:Gas Prices Medium Term.png|thumb|300px|Long-term U.S. gasoline prices, 1990-2006 (adjusted for [[inflation]] using the U.S. [[Consumer price index|CPI]]).]]
[[Image:Gas Prices Short Term.png|thumb|300px|Recent U.S. gasoline prices, 2004-2006 (not adjusted for inflation).]]

The [[United States]] uses 360 million US liquid [[gallon]]s (1.36 [[gigalitre]]s) of gasoline each day. Western countries have among the highest usage rates per person, while developing nations like China typically have the highest usage by volume{{citation needed}}. On average, U.S. consumers spend a smaller fraction of their incomes on gasoline today than in previous decades.{{fact}}

Some countries, e.g. in Europe and Japan, impose heavy [[fuel tax]]es on fuels such as gasoline, leading to greater efficiency and economy in car design. Because a greater proportion of the price of gasoline in the United States is due to the cost of oil, rather than taxes, the price of the retail product is subject to much larger fluctuations, when calculated as a percentage{{fact}} (but should be relatively similar in absolute terms).{{fact}}

According to national figures from the U.S. [[Department of Energy]], in March 2006, 55% of the cost of gasoline went to pay for [[petroleum|crude oil]], 22% for [[Oil refinery|refining]], 19% to taxes, and 4% for distribution and marketing.<ref>Q&A: What's Behind High Gas Prices? by Scott Horsley. NPR.org, April 27, 2006 [http://www.npr.org/templates/story/story.php?storyId=5367096&ft=1&f=4816228]</ref>

{|border=1 cellspacing=0 cellpadding=3|
|-
|-
!Owner
|colspan=5 align=center|'''Average gas prices around the world'''<br>(see [[fuel tax]] for tax information by country) <br>(1 US gallon = 3.785411784 litres)
!Percent
|-
|-
|[[Barclays Global Investors]]
|align=center|'''Country'''
|align=center|'''USD/gallon'''
|align=center| 4.1
|-
|align=center|'''Local measure'''
| [[State Street Global Advisors]]
|align=center|'''As of'''
|align=center|'''Source'''
|align=center| 3.1
|-
|-
| [[Vanguard Group]]
|New Zealand
|align=center| 2.6
|$4.09/gal
|$1.71/litre
|29 May 2006
|[http://pricewatch.co.nz Pricewatch]/[http://www.x-rates.com/d/NZD/table.html X-Rates] on 29 May 2006
|-
|-
| [[JPMorgan Chase]]
|United States
|align=center| 1.5
|$2.89/gal
|$2.89/gal
|June 6, 2006
|[http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_home_page.html Energy Information Administration]
|-
|-
| [[Wellington Management Company]]
|Australia
|align=center| 1.3
|$4.01/gal
|-
|$1.40/litre
| [[Northern Trust Company]]
|May 23, 2006
|align=center| 1.4
|[http://motormouth.com.au/ Motormouth]
|-
|-
| [[AllianceBernstein]]
|Japan
|align=center| 1.4
|$4.56/gal
|134.9 yen/liter
|May 1, 2006
|Japan Oil Information Center [http://autonet.ca/News/story.cfm?story=/News/2006/05/08/1569755-ap.html]
|-
|-
| [[Fidelity Management and Research]]
|United Kingdom
|align=center| 1.3
|$6.87/gal
|96.13p/litre
|April 27, 2006
|[http://news.bbc.co.uk/1/hi/business/4950680.stm], Google exchange calculator on 15 May 2006.
|-
|-
| [[Wellington Management Company]]
|Saudi Arabia (Riyadh)
|align=center| 1.3
|$0.91/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|-
| [[Capital Research & Management Company]]
|Netherlands (Amsterdam)
|align=center| 1.1
|$6.48/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|-
| [[Bank of America]]
|Norway (Oslo)
|align=center| 0.9
|$7.46/gal
|
|July 29, 2006
|Shell/[http://www.shell.com/home/Framework?siteId=no-no&FC2=/no-no/html/iwgen/shell_for_businesses/priser/zzz_lhn.html&FC3=/no-no/html/iwgen/shell_for_businesses/priser/veiledende_priser.html]
|-
|-
| [[Merrill Lynch Investment Management]]
|Italy (Milan)
|align=center| 0.9
|$5.96/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|-
| [[TIAA-CREF Investment Management]]
|Denmark (Copenhagen)
|align=center| 0.8
|$5.93/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|-
| [[Mellon Financial]]
|Belgium (Brussels)
|align=center| 0.7
|$5.91/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|-
| [[Lord Abbett]]
|Venezuela (Caracas)
|align=center| 0.6
|$0.12/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|Nigeria (Lagos)
|$0.38/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|Egypt (Cairo)
|$0.65/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|Kuwait (Kuwait City)
|$0.78/gal
|
|March 2005
|CNN Money/[http://money.howstuffworks.com/gas-price1.htm]
|-
|Malaysia (Kuala Lumpur)
|$2.01/gal
|[[Malaysian Ringgit|RM]]1.92/litre
|February 2006
|[http://thestar.com.my/news/story.asp?file=/2006/2/28/nation/13525389&sec=nation]/Google exchange calculator on 15 May 2006
|-
|India (Chandigarh)
|$4.12/gal
|[[Indian rupee|INR]] 50/litre
|July 2006
|
|-
|-
| [[State Farm Insurance]]
|align=center|0.6
|}
|}
<br clear="all">
===See also===
* [[Gasoline price website]]


==External links==
* [[zone pricing]]
===General information===
*[http://www.exxonmobil.com/ ExxonMobil corporate website]
**[http://www.exxon.com Exxon USA website]
**[http://www.mobil.com Mobil global website]
**[http://www.esso.com Esso global website]
*[http://www.us-highways.com/sohist.htm History of Standard Oil spinoffs and their brands]
* [http://www.knowmore.org/index.php/Exxonmobil Exxonmobil] entry at [http://www.knowmore.org Knowmore.org]
* [http://seekingalpha.com/transcripts/for/xom ExxonMobil's most recent conference call transcripts]
*[http://www.europaque.eu The World's COMPLEXXON]


===ExxonMobil responses to issues===
==Stability==
*[http://www.exxonmobil.com/Global-English/HR/Operations/HR_GL_Proud_ethics.asp ExxonMobil Web Page on Business Ethics & Standards]
When gasoline is left for a certain period of time, gums and varnishes may build up and precipitate in the gasoline, causing "stale fuel." This will cause gums to build up in the cylinders and also the fuel lines, making it harder to start the engine. Gums and varnishes should be removed by a professional to extend engine life. Motor gasoline may be stored up to 60 days in an approved container. If it is to be stored for a longer period of time, a fuel stabilizer may be used. This will extend the life of the fuel to about 1-2 years, and keep it fresh for the next uses. Fuel stabilizer is commonly used for small engines such as lawnmower and tractor engines to promote quicker and more reliable starting.
*[http://www.exxonmobil.com/Europe-English/Citizen/Eu_VP_climate.asp ExxonMobil Web Page on Climate Change]
*[http://www.exxonmobileurope.com/Corporate/Newsroom/Newsreleases/xom_nr_071003.asp ExxonMobil Web Page on Domestic Partner Policies]
*[http://www.exxonmobil.com/Corporate/Newsroom/NewsReleases/Corp_NR_Valdez.asp ExxonMobil Web Page on Valdez Oil Spill]


===Funding given by ExxonMobil===
== Substitutes ==
* [http://www.motherjones.com/news/feature/2005/05/some_like_it_hot.html Mother Jones expose on ExxonMobil ties to global warming deniers: "Some Like it Hot"]
:''Main article: [[Alternative fuel]]''
*[http://www.exxonmobil.com/Corporate/files/corporate/giving_report.pdf ExxonMobil's list of funded organizations].
* [[Biodiesel]], for diesel engines.
*[http://soc.hfac.uh.edu/artman/publish/article_375.shtml World Internet News: "Big Oil Looking for Another Government Handout," April 2006.]
* [[Biobutanol]], for gasoline engines.
*[[Greenpeace]]'s [http://www.exxonsecrets.org/html/listorganizations.php list of organizations] that have received funds from ExxonMobil, with evidence of that funding.
* [[Bioethanol]] and [[E85]]
*''[[Mother Jones]]''' overview, May 2005, [http://www.motherjones.com/news/featurex/2005/05/exxon_chart.html Chart on ExxonMobil funding of think-tanks: "Put a Tiger In Your Think Tank"]
* [[Hydrogen economy|Hydrogen fuel]]
* [[Hybrid vehicle|Hybrid engines]], fuel saving.


===Anti ExxonMobil Websites===
== See also ==
*[http://www.stopesso.org Stop Esso]

*[http://www.exxposeexxon.com ExxposeExxon]
* [[Ethanol fuel]]
*[http://www.greenpeace.org.uk/climate/climatecriminals/esso/index.cfm Greenpeace UK's page on Esso]
* [[Diesel]]
*[http://www.exxonsecrets.org Exxonsecrets.org]
* [[Filling station]]
*[http://www.Europaque.eu COMPLEXXON]
* [[List of automotive fuel brands]]
*[http://home.comcast.net/~plutarch/exxon.html Exxon's investments in disinformation campaigns]
* [[Oil refinery]]
* [[Internal combustion engine]]
* [[Diesel engine]]
* [[Wankel engine]]
* [[Oil price increases of 2004-2006]]
* [[Aviation Fuel]]

== External links ==

Information:

* [http://www.gasbuddy.com Find the lowest gas prices in the US and Canada]
* [http://www.faqs.org/faqs/autos/gasoline-faq Gasoline FAQ]
* [http://zfacts.com/p/35.html Graph of inflation-corrected historic prices, 1970-2005. Highest in 1981]
* [http://www.fact-sheets.com/cars/high_octane_gas/ High Octane Gasoline - Fact Sheet]
* [http://www.sefsc.noaa.gov/HTMLdocs/Gasoline.htm Gasoline MSDS (material safety data sheet)] includes composition, [[flash point]], handling precautions, etc.
* [http://www.ftc.gov/bcp/conline/pubs/autos/octane.htm FTC: The Low-Down on High Octane Gasoline]
* An [http://www.gasresources.net/Introduction.htm introduction to the modern petroleum science], and to the Russian-Ukrainian theory of deep, [[abiotic petroleum]] origins.
* [http://www.straightdope.com/columns/041008.html What's the difference between premium and regular gas?] (from [[The Straight Dope]])
* [http://www.epa.gov/otaq/regs/fuels/additive/mmt_cmts.htm MMT-US EPA]
'''Data'''
* [http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp EIA - Gasoline and Diesel Fuel Update]
* [http://www.gtz.de/en/themen/umwelt-infrastruktur/transport/10285.htm International Fuel Prices 2005] with diesel and gasoline prices of 172 countries
* [http://www.petrolgauge.com PetrolGauge] UK & Ireland Interactive Petrol/Diesel Price Wiki
* [http://www.whatfuel.com Petrol Prices] Users submit petrol prices for UK stations.
* [http://www.petrolprices.com Petrol Prices] Prices at 10,000 UK petrol stations updated daily.
* [http://www.crowsnest.co.uk/north/petrol.htm European Petrol Prices January 2006]
* [http://www.conocophillips.com/newsroom/other_resources/energyanswers/gasoline.htm Gasoline] price and tax comparison charts (from Conoco Phillips, an energy company)
'''Other'''
*[http://soc.hfac.uh.edu/artman/publish/article_375.shtml World Internet News: "Big Oil Looking for Another Government Handout," April 2006.]
* [http://www.gasresources.net/DisposalBioClaims.htm Dismissal of the Claims of a Biological Connection for Natural Petroleum.]
* [http://www.stanford.edu/~bmoses/knock.html All About Engine Knock (and Other Mysteries of Internal Combustion)] Good paper on why knocks happen...
* [http://journeytoforever.org/biofuel_library/ethanol_motherearth/me2.html#table Durability of various plastics: Alcohols vs. Gasoline] What plastics store gasoline the best.
*[http://www.liberty-page.com/issues/theenvironment/gas/main.html/ Gasoline...and why "feel good" legislation artificially inflates its price]


==Bibliography==
'''Images'''


*Bender, Rob, and Tammy Cannoy-Bender. ''An Unauthorized Guide to: Mobil Collectibles — Chasing the Red Horse''. Atglen, Pennsylvania: Schiffer Publishing Company, 1999.
{{commons|Gasoline}}
*Exxon Corporation. ''Century of Discovery: An Exxon Album''. 1982.
*"''[http://www.archive.org/movies/details-db.php?collection=prelinger&collectionid=19334&from=collectionSpotlight Down the Gasoline Trail]''" Handy Jam Organization, 1935 (Cartoon)
*Gibb, George S., and Evelyn H. Knowlton. <i>The Resurgent Years, 1911-1927: History of Standard Oil Company (New Jersey). New York: Harper & Brothers Publishers, 1956.
*Hidy, Ralph W., and Muriel E. Hidy. <i>Pioneering in Big Business, 1882-1911: History of Standard Oil Company (New Jersey). New York: Harper & Brothers Publishers, 1955.
*Larson, Henrietta M., and Kenneth Wiggins Porter. ''History of Humble Oil & Refining Company: A Study in Industrial Growth''. New York: Harper & Brothers Publishers, 1959.
*Larson, Henrietta M., Evelyn H. Knowlton, and Charles S. Popple. <i>Horizons, 1927-1950: History of Standard Oil Company (New Jersey). New York: Harper & Row, 1971.
*McIntyre, J. Sam. ''The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey''. Atglen, Pennsylvania: Schiffer Publishing Company, 1998.
*Sampson, Anthony. ''The Seven Sisters: The 100-year Battle for the World's Oil Supply.'' New York: Bantom Books, 1991.
*Standard Oil Company (New Jersey). <i>Ships of the Esso Fleet in World War II<i>. 1946.
*Tarbell, Ida M., and David Mark Chalmers. ''The History of the Standard Oil Company''. New York: Harper & Row, 1966.
*Wall, Bennett H. ''Growth in a Changing Environment: A History of Standard Oil Company (New Jersey) 1950-1972 and Exxon Corporation (1972-1975)''. New York: McGraw-Hill Book Company, 1988.
*[[Daniel Yergin|Yergin, Daniel]]. ''[[The Prize: The Epic Quest for Oil, Money, and Power]]''. New York: Simon & Schuster, 1991.


<!--corporate art sponsorshop-->
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Revision as of 21:08, 14 July 2006

Exxon Mobil Corporation
Company typePublic (NYSE: XOM)
IndustryOil and Gas
Founded1999 (merger)
1911 (Standard Oil of New Jersey)
1911 (Standard Oil of New York)
1882 (Standard Oil)
HeadquartersIrving, Texas, USA
Key people
Rex W. Tillerson (Chairman/CEO)
ProductsFuels, Lubricants, Petrochemicals
Revenue$370.680 Billion USD(2005)
Increase $36.130 Billion USD (2005)
Number of employees
83,700
Websitewww.exxonmobil.com

Exxon Mobil Corporation or ExxonMobil (NYSE: XOM) is the largest publicly traded, integrated oil and gas company in the world, formed on November 30, 1999 by the merger of Exxon and Mobil. It is the sixth-largest company in the world as ranked by the Forbes Global 2000 and the largest company in the U.S. as ranked by the Fortune 500. It is the largest of the six oil "supermajors," which also include BP (formerly British Petroleum), Shell, Chevron, ConocoPhillips and Total. It has the highest market value of any publicly traded company in the world, and in 2005 was the most profitable. Its operating profit in 2005 was $.08 per gallon of sales for a total of $36.13 billion (an all-time record for any publicly traded company), slightly less than the gross domestic product of Azerbaijan, while its revenues were slightly less than the GDP of Belgium. ExxonMobil is a component of the

.

The company is bifurcated into a "Downstream" division (marketing, refining, and retail operations) headquartered in Fairfax, Virginia (a Washington DC suburb), and an "Upstream" division (oil exploration, extraction, shipping, and wholesale operations) headquartered in Houston, Texas. Although most internal operations are divided along these lines, the company also has several smaller divisions such as Chemicals, Coal & Minerals, and Lubricants.

The upstream division dominates the company's cashflow, accounting for approximately 70% of revenue. The company employs over 100,000 people worldwide with approximately 4,000 employees in its Fairfax downstream headquarters and 27,000 people in its Houston upstream headquarters.

Overall corporate headquarters are located in Irving, a suburb of Dallas, Texas, a comparatively small office of a few hundred (primarily very senior) employees. The company markets products around the world under the brands of Exxon, Mobil, and Esso; it also owns hundreds of smaller subsidiaries such as Imperial Oil Limited (an oil retailer in Canada) and SeaRiver Maritime.

The merger of Exxon and Mobil was unique in American history because it brought together once again the two largest companies of John D. Rockefeller's Standard Oil trust, Standard Oil Company of New Jersey/Exxon and Standard Oil Company of New York/Mobil.

In 2005, ExxonMobil replaced Wal-Mart as the world's largest publicly held corporation when measured by revenue, although Wal-Mart remains the largest by number of employees. (Both Wal-Mart and ExxonMobil are smaller than certain government-controlled corporations such as Saudi Aramco.)

History

Both Exxon and Mobil were descendants of the John D. Rockefeller monopoly, Standard Oil. The reputation of Standard Oil in the public eye suffered badly after publication of Ida Tarbell's classic novel "The History of Standard Oil" in 1904, leading to a growing outcry for the government to take action against the company.

By 1911, with public outcry at a climax, the United States Supreme Court ruled that Standard Oil must be dissolved and split into 34 companies. Two of these companies were Jersey Standard, which eventually became Exxon, and Socony ("Standard Oil Company of New York"), which eventually became Mobil.

In the same year, the nation's kerosene output was eclipsed for the first time by gasoline. The growing automotive market inspired the product trademark Mobiloil, registered by Socony in 1920.

Over the next decade, both companies grew significantly. Jersey Standard acquired a 50 percent share in Humble Oil & Refining Co., a Texas oil producer. Socony purchased a 45 percent interest in Magnolia Petroleum Co., a major refiner, marketer and pipeline transporter. In 1931, Socony merged with Vacuum Oil Co., an industry pioneer dating back to 1866 and a growing Standard Oil spin-off in its own right.

In the Asia-Pacific region, Jersey Standard had oil production and refineries in Indonesia but no marketing network. Socony-Vacuum had Asian marketing outlets supplied remotely from California. In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard-Vacuum Oil Co., or "Stanvac," operated in 50 countries, from East Africa to New Zealand, before it was dissolved in 1962.

Mobil Chemical Company was established in 1960. As of 1999 its principal products included basic olefins and aromatics, ethylene glycol and polyethylene. The company produced synthetic lubricant base stocks as well as lubricant additives, propylene packaging films and catalysts. Exxon Chemical Company became a worldwide organization in 1965 and in 1999 was a major producer and marketer of olefins, aromatics, polyethylene and polypropylene along with specialty lines such as elastomers, plasticizers, solvents, process fluids, oxo alcohols and adhesive resins. The company was an industry leader in metallocene catalyst technology to make unique polymers with improved performance. {{citation}}: Empty citation (help)

In 1955 Socony-Vacuum became Socony Mobil Oil Co. and in 1966 simply Mobil Oil Corp. A decade later, the newly incorporated Mobil Corporation absorbed Mobil Oil as a wholly owned subsidiary. Jersey Standard changed its name to Exxon Corporation in 1972 and established Exxon as a trademark throughout the United States. In other parts of the world, Exxon and its affiliated companies continued to use its Esso trademark.

On March 24 1989, shortly after midnight, the oil tanker Exxon Valdez struck Bligh Reef in Prince William Sound, Alaska, spilling more than 11 million gallons (42,000 m³) of crude oil. The spill was the largest in U.S. history, and in the aftermath of the Exxon Valdez incident U.S. Congress passed the Oil Pollution Act of 1990. At the time of the spill, Exxon paid $300 million immediately and voluntarily to more than 11,000 Alaskans and businesses affected by the Valdez spill. {{citation}}: Empty citation (help) In addition, the company paid $2.2 billion to cleanup Prince William Sound, a process that lasted until 1992, when the State of Alaska and the U.S. Coast Guard declared the cleanup complete. Exxon paid $1 billion in settlements with the state and federal governments. Virtually all Valdez compensatory damages were paid in full within one year of the accident, and the trial court commended Exxon for coming forward "with its people and its pocketbook and doing what had to be done under difficult circumstances." However, a $4.5 billion punitive ruling against Exxon is still under appeal. The punitive damages were set by a Federal court judge in Anchorage,and have twice been vacated by the Ninth Circuit Court of Appeals as excessive.

In 1998, Exxon and Mobil signed a US$73.7 billion definitive agreement to merge and form a new company called Exxon Mobil Corporation, the largest company on the planet. After shareholder and regulatory approvals, the merger was completed on November 30, 1999.

In 2000, ExxonMobil sold a refinery in Benicia, California and 340 Exxon-branded stations to Valero Energy Corporation, as part of an FTC-mandated divestiture of California assets. ExxonMobil continues to supply petroleum products to over 700 Mobil-branded retail outlets in the state.

In 2005, its stock price surged in parallel with rising oil prices, surpassing General Electric as the largest corporation in the world in terms of market capitalization. At the end of 2005, ExxonMobil reported record profits, reporting U.S $36 billion in annual income, up 42% from the previous year (the overall annual income was an all-time record for annual income by any business, and included $10 billion in the third quarter alone, also an all-time record income for a single quarter by any business). The company and the American Petroleum Institute, the Oil and Chemical industry's lobbying apparatus, however tried to downplay its success in order to avoid criticism from consumers by putting up page-long ads in major American newspapers, such as The New York Times, The Washington Post, comparing Oil Industry profits to that of other large industries such as pharmaceuticals and banking. [1] [2] As an illustration, ExxonMobil's $36 billion in profits came on top of $370.6 billion in revenue, for a profit margin of 9.7%. In other words, Exxon netted 9.7 cents on each dollar of revenue it brought in. By contrast, Microsoft earned 30.8 cents for each dollar of revenue, and Google earned 23.9 cents for each dollar of revenue. Starbucks' profit margin was slightly lower than ExxonMobil's, at 7.8 cents for each dollar of revenue. Exxon's long-time mascot is a Tiger; Mobil's mascot is a Pegasus which dates back to the late 19th century and is one of the oldest marketing symbols still in use.

Allegations against ExxonMobil

ExxonMobil has been accused of several unethical business practices. [3] Exxonmobil has further alienated many people through PR missteps and a corporate philosophy perceived as confrontational and "take no prisoners" in nature.

Allegations levied against the company include:

  • Global Warning: the World's COMPLEXXON/Gasgate 1963, post-war seizure of the european public sector by means of technology advantage ('pipeline lock-ins') and abusive conduct / industrial dominance in the energy-sector: the Public-Private Partnership 'Gasunie' [4]
  • Intentional negligence and indifference to the environmental consequences of the Valdez disaster; [5]
  • Underfunding its pension plan, although Exxon Mobil currently has enough cash on hand to fund the difference several times over. [6]
  • Price gouging in the United States at a retail level; [7]
  • Indifference to the needs of homosexual employees -- domestic partner benefits were ended following Mobil's merger with Exxon. Mobil employees who already had domestic partner benefits were allowed to keep them, but other employees could not add their domestic partners to the benefit plans after the merger. ExxonMobil does offer domestic partner benefits in countries where same-sex marriage is legal. [8]
  • Shortchanging retail fuel marketing and lubricants marketing partners (known in the industry as "distributors" or "jobbers") (The marketers won a $1.4 billion judgment against ExxonMobil for anticompetitive practices in federal court in 2003) [9]
  • Abuse of U.S. corporation law and perpetration of clever marketing schemes to avoid proper responsibility for its actions (For example, after the Valdez disaster, the company took the name "Exxon" out of its tanker shipping subsidiary, renaming it "SeaRiver Maritime," and giving it a separate (but wholly Exxon-controlled) corporate charter and board of directors. The former Exxon Valdez is now the "SeaRiver Mediterranean" and is legally owned by a small, allegedly undercaptialized, stand-alone company, which would have minimal ability to pay out on claims in the event of a further accident. [10]
  • Human rights violations in the Indonesian territory of Aceh. In June 2001, ExxonMobil became the target of a lawsuit in the Federal District Court of the District of Columbia, under the Alien Tort Claims Act. The suit alleged that the company knowingly assisted human rights violations, including torture, murder and rape, by employing and providing material support to Indonesian military forces, who committed the alleged offenses in Aceh. Human rights complaints involving ExxonMobil's relationship with the Indonesian military first arose in 1992; the company denies these accusations and has filed a motion to dismiss the suit, which is still pending as of 2005; [11]
  • Callous treatment and prejudicial termination of former Mobil employees in favor of their Exxon counterparts during and after the Exxon & Mobil merger;
  • Violation of the Bribes & Foreign Corrupt Practices Act (ExxonMobil controls concessions covering 11 million acres (44,500 km²) off the coast of Angola that hold an estimated 7.5 billion barrels (1.2 km³) of crude. [12] Questions have been raised about ExxonMobil's actions in securing these concessions—Forbes Magazine alleging that "ExxonMobil handed hundreds of millions of dollars to the corrupt regime of President José Eduardo dos Santos in the late 1990s". [13]; and
  • Trade in violation of economic sanctions against regimes hostile to the United States (In 2003, the Office of Foreign Assets Control reported that ExxonMobil engaged in illegal trade with Sudan and along with dozens of other companies had to settle with the United States government for US$50,000 [14].)

Corporate governance

The current Chairman of the Board and CEO of Exxon Mobil Corporation is Rex Tillerson. Tillerson assumed the top position on January 1, 2006 on the retirement of long-time chairman and CEO, Lee Raymond, who received a highly controversial retirement and severance package of approximately $400 Million.

Board of directors

Current Exxon Mobil board members are:

Incorporated governance:

The World's COMPLEXXON: http://www.europaque.eu

Organization

ExxonMobil is organized functionally into a number of global operating divisions. These divisions are grouped into three categories for reference purposes:

  • Upstream
  • Downstream
  • Chemical

Operating divisions by category are as follows:

  • Upstream
    • ExxonMobil Exploration Company
    • ExxonMobil Development Company
    • ExxonMobil Production Company
    • ExxonMobil Gas and Power Marketing Company
    • ExxonMobil Upstream Research Company
  • Downstream
    • ExxonMobil Refining and Supply Company
    • ExxonMobil Fuels Marketing Company
    • ExxonMobil Lubricants & Specialties Company
    • ExxonMobil Research and Engineering Company
    • ExxonMobil Global Services Company
  • Chemical
    • ExxonMobil Chemical Company

Upstream and Chemical operations are headquartered in Houston, Texas, and the downstream operations are headquartered at the heritage-Mobil headquarters in Fairfax, Virginia.

Largest Shareholders

As of March 31, 2006:

Owner Percent
Barclays Global Investors 4.1
State Street Global Advisors 3.1
Vanguard Group 2.6
JPMorgan Chase 1.5
Wellington Management Company 1.3
Northern Trust Company 1.4
AllianceBernstein 1.4
Fidelity Management and Research 1.3
Wellington Management Company 1.3
Capital Research & Management Company 1.1
Bank of America 0.9
Merrill Lynch Investment Management 0.9
TIAA-CREF Investment Management 0.8
Mellon Financial 0.7
Lord Abbett 0.6
State Farm Insurance 0.6

General information

ExxonMobil responses to issues

Funding given by ExxonMobil

Anti ExxonMobil Websites

Bibliography

  • Bender, Rob, and Tammy Cannoy-Bender. An Unauthorized Guide to: Mobil Collectibles — Chasing the Red Horse. Atglen, Pennsylvania: Schiffer Publishing Company, 1999.
  • Exxon Corporation. Century of Discovery: An Exxon Album. 1982.
  • Gibb, George S., and Evelyn H. Knowlton. The Resurgent Years, 1911-1927: History of Standard Oil Company (New Jersey). New York: Harper & Brothers Publishers, 1956.
  • Hidy, Ralph W., and Muriel E. Hidy. Pioneering in Big Business, 1882-1911: History of Standard Oil Company (New Jersey). New York: Harper & Brothers Publishers, 1955.
  • Larson, Henrietta M., and Kenneth Wiggins Porter. History of Humble Oil & Refining Company: A Study in Industrial Growth. New York: Harper & Brothers Publishers, 1959.
  • Larson, Henrietta M., Evelyn H. Knowlton, and Charles S. Popple. Horizons, 1927-1950: History of Standard Oil Company (New Jersey). New York: Harper & Row, 1971.
  • McIntyre, J. Sam. The Esso Collectibles Handbook: Memorabilia from Standard Oil of New Jersey. Atglen, Pennsylvania: Schiffer Publishing Company, 1998.
  • Sampson, Anthony. The Seven Sisters: The 100-year Battle for the World's Oil Supply. New York: Bantom Books, 1991.
  • Standard Oil Company (New Jersey). Ships of the Esso Fleet in World War II. 1946.
  • Tarbell, Ida M., and David Mark Chalmers. The History of the Standard Oil Company. New York: Harper & Row, 1966.
  • Wall, Bennett H. Growth in a Changing Environment: A History of Standard Oil Company (New Jersey) 1950-1972 and Exxon Corporation (1972-1975). New York: McGraw-Hill Book Company, 1988.
  • Yergin, Daniel. The Prize: The Epic Quest for Oil, Money, and Power. New York: Simon & Schuster, 1991.
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