Our history | ExxonMobil (2024)

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Today we operate in most of the world's countries and are best-known by our familiar brand names: Exxon, Esso and Mobil. We make the products that drive modern transportation, power cities, lubricate industry and provide petrochemical building blocks that lead to thousands of consumer goods.

1859

Colonel Edwin Drake and Uncle Billy Smith drill the first successful oil well in Titusville, Pennsylvania. The colonel's discovery triggers an oil boom that parallels the gold rush of a decade earlier.

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1870

Rockefeller and his associates form the Standard Oil Company (Ohio), with combined facilities constituting the largest refining capacity of any single firm in the world. The name Standard is chosen to signify high, uniform quality.

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1879

Standard Oil Co. purchases a three-quarters interest in Vacuum Oil Company for $200,000. As a lubricants pioneer, Vacuum Oil introduces a number of popular products, including the revolutionary Gargoyle 600-W Steam Cylinder Oil.

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1882

Standard Oil lubricates Thomas Edison's first central generating system. Also in this year, Standard Oil Trust forms to include the Standard Oil Company of New Jersey (Jersey Standard) and the Standard Oil Company of New York (Socony).

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1885

The Standard Oil Trust moves its headquarters to 26 Broadway, New York City. The nine-story office building becomes a landmark. The same year, Vacuum develops Gargoyle Arctic engine oils for newly designed generators and motors that operate at speeds of up to 1,000 rpm.

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1903

The Wright brothers, Wilbur and Orville, use both Jersey Standard fuel and Mobiloil (Vacuum) lubricants for their historic first flight at Kitty Hawk, North Carolina.

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1906

Socony gains a strong foothold in the vast market for kerosene in China by developing small lamps that burned kerosene efficiently. The lamps become known as Mei-Foo, from the Chinese symbols for Socony, meaning "beautiful confidence."

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1911

Following a landmark U.S. Supreme Court decision, Standard Oil breaks up into 34 unrelated companies, including Jersey Standard, Socony and Vacuum Oil. The year also marks the first time Jersey Standard's sales of kerosene are surpassed by gasoline, a product that in the early days had often been discarded as a nuisance.

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1915

Ralph De Palma, winner of the Indianapolis 500, is the first of many Indy winners to use Mobil products. His average speed: 89.84 mph.

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1919

Jersey Standard acquires a 50-percent interest in Humble Oil & Refining Company of Texas. It was during this year that Humble, led by its pioneering Chief Geologist Wallace Pratt, employed micropaleontology, the study of microscopic fossils contained in cuttings and core samples from drilling, as an aid in finding oil.

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1920

Jersey Standard researchers produce rubbing alcohol, or isopropyl alcohol — the first commercial petrochemical.

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1926

Embodying the phonetic rendition of the initials ‘S’ and ‘O’ in Standard Oil, Jersey Standard brings out a new blend of fuel under the trade name Esso.

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1927

Humble geophysicists use a refraction seismograph and discover an oil field in Sugarland, Texas.

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1928

Amelia Earhart uses Mobiloil to protect Friendship when she makes her historic solo flight across the Atlantic. The previous year, Charles Lindbergh used Mobiloil in the Spirit of St. Louis on the first solo flight across the Atlantic.

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1936

First commercial unit in a cat-cracking refinery begins operation at Socony-Vacuum’s Paulsboro, New Jersey, refinery. The unit used a process developed by French scientist Eugene P. Houdry with the financial backing of Socony-Vacuum. The process added a clay-like catalyst to the cracking process to boost gasoline yields and octane rating.

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1936

Harlem postman Victor Green creates the Green Book. Often referred to as the “Bible of Black travel,” the Green Book listed service stations, hotels, restaurants and other establishments where Black travelers would be welcomed. Jersey Standard was the only major retail distributor of the Green Book through its network of Esso service stations, which welcomed Black motorists and also provided business opportunities for Black franchisees. The Green Book was published and distributed nationwide until 1967.

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1937

Jersey Standard researchers produce an artificial rubber, butyl. Today, butyl is used in the creation of tires, surgical tapes, protective coatings and more.

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1938

The world's first commercial production of alkylate begins at a Humble plant in Baytown, Texas. Alkylation made possible the manufacturing of iso-octane, used as a blending agent to produce 100-octane aviation gasoline.

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1942

The world’s first fluid catalytic cracker goes onstream at Louisiana Standard’s Baton Rouge refinery. The process, developed by four Jersey Standard researchers known as the “four horsem*n,” improved on the Houdry method for cat cracking and eventually became the industry standard for producing gasoline. Fortune magazine called it “the most revolutionary chemical-engineering achievement of the last 50 years.”

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1952

Jersey Standard introduces Uniflo motor oil, the first multigrade motor oil recommended for both summer and winter use.

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1955

Jersey Standard establishes the Esso Education Foundation, a program that gives financial aid to private colleges and universities.

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1958

Pan American Airways flies its first trans-Atlantic Boeing 707 flight from New York to London. The flight is fueled by Mobil aviation fuel.

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1959

An advertising copywriter in Chicago comes up with the advertising slogan “Put a tiger in your tank.”

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1963

Humble invents 3-D seismic technology, a revolution that completely changes the way the industry searches for oil and gas resources. (This breakthrough technology, coupled with the use of massive parallel computers in seismic imaging, has helped our geologists sharply reduce finding costs since the 1980s while increasing new field resource additions.)

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1966

Mobil celebrates 100 years since the founding of the Vacuum Oil Company in 1866 and changes its name to Mobil Oil Corporation. The company launches a wide-reaching identity program to emphasize the Mobil trade name.

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1972

Jersey Standard officially changes its name to Exxon Corporation. The name change is approved by Jersey Standard shareholders in a special shareholders’ meeting.

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1974

Mobil introduces a synthetic automotive engine lubricant — Mobil 1. Today, Mobil 1 is the world’s leading synthetic motor oil.

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1975

Mobil participates in completion of Beryl A, the world's first concrete production platform. The 50-story-high structure was the prototype for other concrete deepwater facilities operating in the North Sea.

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1976

Mobil invents a process for converting methanol into high-octane gasoline through the use of the company’s versatile ZSM-5 catalyst.

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1980

Exxon opens its own facility for environmental health research at East Millstone, New Jersey. Exxon Biomedical Sciences, Inc. conducts research to further assure the safety of Exxon operations and products.

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1982

Exxon celebrates 100 years since the formation of the Standard Oil Trust in 1882. In its first 100 years, the company evolved from a domestic refiner and distributor of kerosene to a large multinational corporation, involved at every level of oil and gas exploration, production, refining and marketing, and petrochemicals manufacturing.

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1986

Exxon Research and Engineering invents a powerful new imaging technique called 3-D microtomography to study the internal structure of opaque objects without damaging them.

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1989

On March 24, 1989, the tanker Exxon Valdez runs aground in Prince William Sound in Alaska. The Valdez oil spill was a tragic accident that ExxonMobil deeply regrets. The company took immediate responsibility for the spill, cleaned it up and voluntarily compensated those who claimed direct damages. Learn more about the Exxon Valdez.

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1989

Exxon introduces Exxpol, a single-site metallocene catalyst used to produce consistent, controllable molecular structures that make plastic and rubber products tougher and impact-resistant, with less haze and with excellent organoleptics (low off-taste and odor).

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1995

Exxon establishes the Save The Tiger Fund in partnership with the National Fish and Wildlife Foundation. The Save The Tiger Fund is dedicated to supporting the conservation of Asia’s remaining wild tigers. Since its establishment, ExxonMobil has provided $1 million annually in support of the Save The Tiger Fund.

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1997

Mobil introducesSpeedpass, an electronic system which automatically activates the pump and charges purchases to a credit card.Speedpassis similar to the electronic toll technology successfully used on subway, bus and highway systems around the world.

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1999

On November 30, 1999, Exxon and Mobil join to form Exxon Mobil Corporation. “This merger will enhance our ability to be an effective global competitor in a volatile world economy and in an industry that is more and more competitive,” said Lee Raymond and Lou Noto, chairmen and chief executive officers of Exxon and Mobil, respectively.

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2001

ExxonMobil Research & Engineering Company (EMRE) develops the SCANfining process, which uses a new proprietary catalyst to selectively remove more than 95 percent of the sulfur from gasoline while minimizing octane loss.

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2002

ExxonMobil, joined by other sponsors, initiates the Global Climate and Energy Project (GCEP) at Stanford University — a pioneering research effort to identify technologies that can meet energy demand with dramatically lower greenhouse gas emissions.

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2005

ExxonMobil partners with professional golfer Phil Mickelson and his wife, Amy, to launch the Mickelson ExxonMobil Teachers Academy. The academy is designed to provide third- through fifth-grade teachers with the knowledge and skills necessary to motivate kids to pursue careers in science and math.

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2005

ExxonMobil and Qatar Petroleum, with other joint-venture partners, expand development of the giant North Field offshore Qatar, the largest nonassociated gas field in the world.

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2007

Exxon Neftegas Limited (a subsidiary of Exxon Mobil Corporation) completes the drilling of the Z-11 well, the longest measured depth extended-reach drilling (ERD) well in the world. (Located on Sakhalin Island offshore eastern Russia, the record-setting Z-11 achieved a total measured depth of 37,016 feet [11,282 meters], or more than seven miles.)

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2008

ExxonMobil's donation through “Idol Gives Back” enables the distribution of hundreds of thousands of bed nets throughout disease-stricken communities in Angola.

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2009

Exxon Mobil Corporation (NYSE:XOM) and Viridos (formerly Synthetic Genomics, Inc.) announced the opening of a greenhouse facility enabling the next level of research and testing in their algae biofuels program. In 2017, these efforts will yield a breakthrough involving modification of an algae strain that more than doubles its oil content without significantly inhibiting the strain’s growth.

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2010

ExxonMobil finalizes its agreement with XTO Energy Inc., creating a new organization to focus on global development and production of unconventional resources. A plan to build and deploy a rapid response system that will be available to capture and contain oil in the event of a potential future underwater well blowout in the deep-water Gulf of Mexico is announced by Chevron, ConocoPhillips, ExxonMobil and Shell. ExxonMobil leads the containment system efforts on behalf of the sponsor companies.

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2011

Exxon Mobil Corporation announced two major oil discoveries and a gas discovery in the deep-water Gulf of Mexico after drilling the company's first post-moratorium deep-water exploration well. This is one of the largest discoveries in the Gulf of Mexico in the last decade.

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2014

The first shipment of liquefied natural gas from ExxonMobil’s PNG LNG Project in Papua New Guinea is delivered to the Tokyo Electric Power Co. Inc. in Japan.

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2015

ExxonMobil safely and successfully drills its first exploration well offshore Guyana. Subsequent exploratory activity will confirm a world-class resource discovery in excess of 8 billion oil-equivalent barrels.

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2016

ExxonMobil and Georgia Tech researchers develop a potentially revolutionary “reverse osmosis” technology that could significantly reduce greenhouse gas emissions associated with plastics manufacturing. By using a molecular filter — rather than energy and heat — to perform a key step in the plastics-making process, this new process offers the potential to dramatically reduce the amount of energy required in petrochemical facilities.

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2017

Working jointly with the National Center for Supercomputing Applications at the University of Illinois at Champaign-Urbana, ExxonMobil sets a record in high-performance computing by using more than four times the previous number of processors used on complex oil and gas reservoir simulation models to improve exploration and production results. The breakthrough in parallel simulation uses 716,800 processors, the equivalent of harnessing the power of 22,400 computers with 32 processors per computer.

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2017

ExxonMobil doubles its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of companies owned by the Bass family of Fort Worth, TX.

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2019

In late 2019, ExxonMobil starts oil production from the Liza field offshore Guyana. This startup comes ahead of schedule and less than five years after the first discovery of hydrocarbons, well ahead of the industry average for deepwater developments.

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2020

In response to the COVID-19 pandemic, ExxonMobil maximizes the production of critical products such as isopropyl alcohol, which is used to make hand sanitizer, and polypropylene, which is used for protective masks, gowns and wipes. Additionally, the corporation reconfigures operations in Louisiana to produce medical-grade hand sanitizer for donation to COVID-19 response efforts.

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2021

ExxonMobil created a new business to commercialize its extensive low-carbon technology portfolio. The new business, ExxonMobil Low Carbon Solutions, will initially focus on carbon capture and storage, one of the critical technologies required to achieve net zero emissions and the climate goals outlined in the Paris Agreement.

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Our history | ExxonMobil (2024)

FAQs

What did Exxon used to be called? ›

Jersey Standard officially changes its name to Exxon Corporation. The name change is approved by Jersey Standard shareholders in a special shareholders' meeting.

What did Esso stand for? ›

In many states, Jersey Standard marketed its products under the brand 'Esso', which is the phonetic pronunciation of the initials 'S' and 'O' in Standard Oil.

Is Mobil the same as Exxon? ›

In 1998, Mobil announced it was merging with Exxon to form ExxonMobil, reuniting the two largest descendants of Standard Oil. The technicalities of the merger, which was completed on November 30, 1999, showed that Exxon bought Mobil, and Mobil shareholders received a payment of stock in Exxon.

Why did Exxon leave NY? ›

Ltd. in 1986 for $610 million, and in 1989, moved its headquarters from Manhattan, New York City to the Las Colinas area of Irving, Texas. John Walsh, president of Exxon subsidiary Friendswood Development Company, stated that Exxon left New York because the costs were too high.

Who owns Exxon now? ›

The ownership structure of Exxon Mobil (XOM) stock is a mix of institutional, retail and individual investors. Approximately 47.40% of the company's stock is owned by Institutional Investors, 0.72% is owned by Insiders and 51.88% is owned by Public Companies and Individual Investors.

Why did Exxon and Mobil merge? ›

By the merger with Mobil, Exxon focused on expansion of its presence in the regions of high potential for future oil and gas discoveries. The consolidation facilitated the combination of Exxon's rich experience in deepwater exploration with Mobil's production and exploration acreage in Nigeria and Equatorial Guinea.

Who owns Standard Oil now? ›

Three supermajor companies now own the rights to the Standard name in the United States: ExxonMobil, Chevron Corp., and BP.

Who owns Chevron gas? ›

11 Its three largest individual shareholders are members of the company's board of directors or Chevron corporate officers. Berkshire Hathaway and Warren Buffett, the "Oracle of Omaha," was the largest institutional shareholder as of May 2023.

Where does ExxonMobil get its oil? ›

In 2021, ExxonMobil had about 30 billion barrels of oil and oil equivalents, as well as 38.1 billion cubic feet of natural gas. In the United States, ExxonMobil's petroleum exploration and production activities are concentrated in the Permian Basin, Bakken Formation, Woodford Shale, Caney Shale, and the Gulf of Mexico.

Who is bigger, Shell or Exxon? ›

From an MV point, Exxon is the second largest behind only Saudi Aramco (ARMCO) and Shell is the fourth largest, just ahead of PetroChina (OTCPK:PCCYF).

Which is better, Exxon or Chevron? ›

Chevron has a higher yield and lower leverage

Reuben Gregg Brewer (Chevron): ExxonMobil, with a market cap of nearly $420 billion, is a much larger company than Chevron, which has a market cap a touch below $280 billion.

Are Chevron and Mobil the same company? ›

While both companies operate in the same industry and have evolved through acquisitions and mergers – ExxonMobil in 1999 through the merger of Exxon and Mobil and Chevron with the merger of Chevron and Texaco in 2001 – there are notable differences in their operational strategies, financials, and initiatives.

Why are people quitting Exxon? ›

A performance-based ranking system that pits workers against one another — discouraging employees from challenging managers — as well as accelerated efforts to offshore jobs have been driving departures. By the end of last year, Exxon's attrition rate (18%) was almost double the average of its industry peers.

Did 7 11 buy Exxon? ›

US convenience retailer 7-Eleven announced completion today of its deal with ExxonMobil to acquire retail interests in 51 sites in North Texas. The sites are all in the greater Dallas/Fort Worth area and include two unused parcels of land.

Why is Exxon being sued? ›

ExxonMobil faces dozens of lawsuits from states and localities alleging the company lied for decades about its role in climate change and the dangers of burning fossil fuels.

What was Exxon's first name? ›

Thus, in 1972, Standard Oil Company (New Jersey) became Exxon Corporation, and many subsidiaries and affiliates, such as Humble, also switched to the Exxon name. Many foreign affiliates, however, retained the Esso name.

Why did Esso change its name to Exxon? ›

In 1972, the name Esso was largely replaced in the U.S. by the Exxon brand after the Standard Oil of New Jersey bought Humble Oil, while the Esso name remained widely used elsewhere.

What was Exxon removed from? ›

Investors regularly turn to the Dow for industry-leading, reliable blue-chip businesses. Having weaker financial health or using too much leverage could have been why Exxon was removed from the Dow instead of Chevron in 2020.

Did Humble Oil become Exxon? ›

Because its management concluded that the use of three trade names, HUMBLE, ESSO and ENCO, was confusing to customers, in late 1972 Humble Oil & Refining Company adopted the name EXXON as its sole primary brand name and on January 1, 1973, Humble Oil & Refining Company became Exxon Company, U.S.A. Exxon spent in excess ...

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