ExxonMobil

By: EconomyWatch   Date: 17 July 2010

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ExxonMobil is biggest publicly traded international organization dealing in oil and gas. It was ranked #5 in 2008 Forbes Global 2000 list. It specializes in provision of energy, which is extremely useful for developing economies.
ExxonMobil has been playing a stellar role in development and up-liftment of living standards all over world through its products and services. ExxonMobil operates on a global basis.

Brief history
ExxonMobil was formed in 1999 as a result of a merger between two leading oil companies of that time, Mobil and Exxon. Both these companies had descended from Standard Oil that had been incorporated in 1870.

Products and services
ExxonMobil offers a number of products and services to its clients. In its industrial products section ExxonMobil offers barrier seal oils, machine tool and way oils, chain oils and oven lubricants, mist oils, compressor oils – air and inert gas, paper machine oils and greases, coolants – metalworking, pneumatic system oils, coupling lubes, vacuum pump oils, cutting fluids – metalworking, refrigeration oils, electric motor greases, steel mill oils, engine oils – gas, rust preservatives, industrial gear lubes, spindle oils, greases, steam cylinder oils, heat transfer oils, turbine oils and hydraulic oils.

ExxonMobil also offers some other products like automotive chassis and bearing glasses, engine oils – diesel, commercial vehicle chassis and bearing greases, mobile equipment chassis and bearing greases, engine oils – automotive and transmission, differential, final drive and gear oils.

In Santoprene specialty products section there are several products and services like customer solutions and technical solutions besides normal products. In ExxonMobil performance polyolefins section major products are chemicals, technology and initiatives, polymers and polymer films.

Financials
In 2007 sales of ExxonMobil amounted to around $358.60 billion and it earned profits worth about $40.61 billion. Assets held by ExxonMobil in 2007 were worth nearly $242.08 billion and its market value stood at about $465.51 billion.

Awards and recognition
British Safety Council awarded International Marine Transportation Limited and SeaRiver Maritime Inc. with Sword of Honour Award in 2006. International Marine Transportation Limited is UK based shipping affiliate of ExxonMobil and SeaRiver Maritime Inc. is US based shipping affiliate of ExxonMobil.


In 2006, ExxonMobil was awarded Work-Life Innovative Excellence Award. It was provided by Alliance for Work Life Progress. It was given for developing a powerful tool that would aid caregivers.

Current financial crisis
In November 2008, ExxonMobil has been forced to reduce prices of its products in order to provide more advantage to its customers.


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