Exxon Mobil Corp

Description

Exxon Mobil Corporation is a global oil and gas company that provides petrochemicals, kerosene and petroleum products.

The company is engaged in producing and exploring gas and oil, power generation, mineral and coal operations.

It forms a part of the energy sector, oil and gas industry and sub-industry.

With a history of over 135 years, the company was incorporated in 1882 in New Jersey.

Exxon Mobil markets its products, including lubricants and fuels, under four brands:

• Exxon
• Esso
• ExxonMobil Chemicals
• Mobil

The company operates through various subsidiaries such as Imperial Oil, Exxon Heritage Bass Strait, SARPOM, SeaRiver Maritime, Mobil Producing Nigeria, ExxonMobil Iraq Limited.

Exxon Mobil conducts its business in three segments:

• Upstream
• Downstream
• Chemical

The company focuses on exploration of unconventional, liquified natural gas, heavy oil, deep water and conventional resources. In addition, it claims to have made 18 discoveries in Guyana since 2015.

The oil and gas company has commodity and specialty manufacturing facilities in Europe, North America, Asia Pacific and the Middle East.

The company caters to various industries like fertilizer, electric, manufacturing, energy companies, chemcials, etc.

It is part of the oligopoly market and markets the products by advertising on popular media channels.

Other sector-leading companies include Chevron Corp, Royal Dutch Shell, ConocoPhillips, Valero, Total, Eni etc.

Exxon Mobil Corporation is presently focusing on reducing emissions by reducing the GHG upstream emissions intensity by 15 to 20 per cent and reducing methane emission intensity by 40 to 50 per cent.

In association with the University of Texas and Gas Technology Institute and others, the company is reportedly working on a project named Astra, wherein a sensor network will be developed to monitor methane emission.

Exxon Mobil Corporation claims to test other solutions, including aircraft, satellites, unmanned drones, to detect the emissions.

The company provides a broad range of solutions through its chemical business segment, including polymer modifiers, Butyl, neo acids, plasticizers, etc.