Exxon Mobil Corporation

What does Exxon Mobil own?
Exxon Mobil owns three primary fuel brands: Exxon, Mobil, and Esso, marketed in different geographic regions. The company also owns the Mobil 1 synthetic motor oil brand, Mobil Delvac heavy-duty lubricants, ExxonMobil Chemical petrochemical products, and marine and aviation fuel brands. Through its acquisition of Pioneer Natural Resources in 2024, the company holds more than 1.4 million net acres in the Permian Basin with an estimated 16 billion barrels of oil equivalent resource.

Is Exxon Mobil publicly traded?
Yes, Exxon Mobil Corporation is listed on the New York Stock Exchange under the ticker symbol XOM. The company has been publicly traded since the Standard Oil era, with continuous public trading through its various corporate forms. Major institutional shareholders include Vanguard Group, BlackRock, and State Street Global Advisors. No single shareholder holds a controlling stake.

Who founded Exxon Mobil?
Exxon Mobil's origins trace back to 1870, when John D. Rockefeller founded Standard Oil Company. Following the 1911 Supreme Court breakup of Standard Oil, Standard Oil of New Jersey became Exxon and Standard Oil of New York became Mobil. The two companies merged in 1999 in a $73.7 billion transaction, creating the modern Exxon Mobil Corporation.

Where is Exxon Mobil headquartered?
Exxon Mobil is headquartered in Spring, Texas, USA, a community north of Houston. The company's corporate campus in Spring houses its global headquarters, major research facilities, and corporate functions. Exxon Mobil moved its headquarters from Irving, Texas to the Spring campus in 2014.

How many brands does Exxon Mobil own?
Exxon Mobil owns three primary fuel brands: Exxon, Mobil, and Esso. The company's lubricant brands include Mobil 1, Mobil Delvac, and Esso Lubricants. The company also markets chemical products under the ExxonMobil Chemical brand and serves marine and aviation markets through ExxonMobil Marine and ExxonMobil Aviation.

Who owns Exxon Mobil?
Exxon Mobil is publicly owned with no controlling shareholder. Institutional investors collectively hold the majority of outstanding shares, with Vanguard Group, BlackRock, and State Street Global Advisors among the largest holders. No individual, family, or private equity firm holds a controlling interest. Darren Woods serves as Chairman and CEO.

What is Exxon Mobil's revenue?
Exxon Mobil reported FY2025 earnings of $28.8 billion, down from $33.7 billion in 2024. Cash flow from operations was $52.0 billion, and free cash flow was $26.1 billion. In Q2 2026, earnings surged to $14.5 billion, or $3.48 per share, with adjusted earnings of $14.7 billion. The company distributed $37.2 billion to shareholders in FY2025.

What is the Pioneer Natural Resources acquisition?
In May 2024, Exxon Mobil completed its acquisition of Pioneer Natural Resources in an all-stock transaction valued at $59.5 billion. The acquisition more than doubled Exxon Mobil's Permian Basin footprint, combining Pioneer's 850,000 net acres with Exxon Mobil's 570,000 net acres. The combined company holds an estimated 16 billion barrels of oil equivalent resource in the Permian, with production targeting 2 million barrels per day by 2027.

Exxon Mobil's origins trace back to 1870, when John D. Rockefeller founded Standard Oil Company in Cleveland, Ohio. Standard Oil rapidly consolidated the American petroleum refining industry, at one point controlling approximately 90% of U.S. oil refining capacity. The company's dominance led to the 1911 U.S. Supreme Court decision in Standard Oil Co. of New Jersey v. United States, which ordered the dissolution of Standard Oil under the Sherman Antitrust Act. The breakup created 34 independent companies, several of which became major international oil companies in their own right.

Two of the largest successor companies were Standard Oil of New Jersey and Standard Oil of New York. Standard Oil of New Jersey retained the largest share of the original company's assets and eventually adopted the Exxon brand name in 1972, unifying its marketing under a single global trademark. Standard Oil of New York had been using the Mobil name since 1966. Both companies grew into major international oil companies throughout the 20th century, with operations spanning exploration, production, refining, and marketing across multiple continents.

The modern Exxon Mobil Corporation was formed on November 30, 1999, when Exxon Corporation acquired Mobil Corporation in a landmark $73.7 billion merger. The merger, the largest corporate combination in history at the time, reunited two of the largest successor companies of the Standard Oil breakup. The deal was driven by the need to achieve scale efficiencies, reduce costs, and compete with state-owned oil companies that were gaining dominance in global energy markets. The Federal Trade Commission approved the merger with conditions, requiring the divestiture of approximately 2,400 service stations and certain refining and pipeline assets.

Throughout the 2000s and 2010s, Exxon Mobil expanded globally through major capital projects. The company invested in deepwater exploration offshore Brazil and West Africa, liquefied natural gas development in Qatar and Australia, and unconventional oil and gas development in the United States. The company also acquired XTO Energy in 2010 for approximately $31 billion, gaining a major position in U.S. shale gas, though the timing proved unfavorable as natural gas prices declined sharply in subsequent years.

In October 2023, Exxon Mobil announced an agreement to acquire Pioneer Natural Resources in an all-stock transaction valued at $59.5 billion, or $253 per share. The deal, which closed on May 3, 2024, more than doubled Exxon Mobil's Permian Basin footprint, combining Pioneer's 850,000 net acres in the Midland Basin with Exxon Mobil's 570,000 net acres. The combined company holds an estimated 16 billion barrels of oil equivalent resource in the Permian Basin. Permian production volume more than doubled to 1.3 million barrels of oil equivalent per day at closing, with a target of approximately 2 million barrels per day by 2027. The acquisition also accelerated Pioneer's net-zero Permian goal from 2050 to 2035.

The COVID-19 pandemic in 2020 caused the most severe disruption to oil markets in decades, with crude prices briefly turning negative in April 2020. Exxon Mobil reported a full-year 2020 loss of $22.4 billion, its first annual loss in at least 40 years. The company suspended share repurchases and implemented cost reductions. As oil prices recovered in 2021 and 2022, driven by post-pandemic demand recovery and the Russia-Ukraine conflict, Exxon Mobil's earnings rebounded sharply, reaching a record $55.7 billion in 2022, the highest annual profit in the company's history.

Under CEO Darren Woods, who became Chairman and CEO in 2017, Exxon Mobil has pursued a strategy of structural cost reduction, advantaged production growth, and disciplined capital allocation. The company has achieved $15.1 billion in cumulative Structural Cost Savings since 2019, more than all other International Oil Companies combined, including $3.0 billion in 2025 alone. Structural Cost Savings are targeted to reach $20 billion by 2030.

In 2025, Exxon Mobil delivered all 10 of its key project startups, adding $3 billion of earnings on a constant price and margin basis. The fifth Guyana FPSO vessel set sail in mid-2026, with production startup planned for Q4 2026, which will increase Guyana production capacity by 250,000 barrels per day.

Exxon Mobil has committed to achieving net-zero Scope 1 and 2 emissions from its operated assets by 2050, with interim 2030 emission-intensity reduction targets. The company is on track to meet its 2025 emission-intensity reduction goals and has implemented programs to reduce methane emissions and flaring across its operations.

The company's Low Carbon Solutions business, established in 2022, commercializes technologies including carbon capture and storage, hydrogen, and biofuels. Exxon Mobil is one of the world's largest operators of carbon capture and storage facilities and has announced CCS hub concepts in Houston, Wyoming, Scotland, France, Belgium, the Netherlands, and Singapore. The company has signed memoranda of understanding with Pertamina (Indonesia) and PETRONAS (Malaysia) to collaborate on CCS projects.

Exxon Mobil has committed to investing more than $15 billion through 2027 on initiatives to lower greenhouse gas emissions. The company produces approximately 1.3 million metric tons of hydrogen annually and is developing technologies to reduce production costs for low-carbon hydrogen. Imperial Oil, Exxon Mobil's Canadian affiliate (approximately 69.6% owned), is progressing plans to produce renewable diesel at its Strathcona refinery using proprietary catalyst technology.

The company does not hold B Corp certification and is not a member of the Science Based Targets initiative for Scope 3 emissions, as its net-zero commitment covers only Scope 1 and 2 emissions from operated assets. Environmental groups and climate advocates have criticized this scope as insufficient, given that the vast majority of emissions associated with oil and gas companies come from the combustion of their products by end users (Scope 3).

Exxon Mobil publishes an annual Sustainability Report with performance data on emissions, water use, biodiversity, and community investment. The company's CDP climate disclosure is available through CDP's database.

Exxon Mobil has received recognition from industry organizations and workplace evaluators for operational performance, innovation, and corporate reputation.

• Fortune World's Most Admired Companies (2024 and 2025): Exxon Mobil was ranked among the world's most admired companies in the petroleum refining sector by Fortune, based on surveys of executives, directors, and analysts evaluating innovation, people management, use of corporate assets, social responsibility, financial soundness, quality of management, and global competitiveness.
• Fortune 500 Ranking: Exxon Mobil consistently ranks among the top 5 companies on the Fortune 500 list by revenue, reflecting its position as one of the largest corporations in the United States by sales.
• Great Place to Work Certification (2024 and 2025): The company received Great Place to Work certification based on employee surveys assessing trust, pride, and camaraderie in the workplace across its global operations.
• CDP Climate Change Disclosure: Exxon Mobil discloses climate data annually through CDP, the global environmental disclosure system, providing investors with information on its emissions, targets, and climate risk management.
• Dividend Aristocrat Status: Exxon Mobil has increased its annual dividend for more than 40 consecutive years, qualifying it as a Dividend Aristocrat, a designation for S&P 500 companies with at least 25 consecutive years of dividend increases.

Exxon Mobil faces extensive legal and regulatory scrutiny related to climate change, environmental impact, and the role of fossil fuels in global warming. The company is involved in multiple ongoing legal proceedings that could have material financial implications.

In January 2025, a New York state judge dismissed New York City's lawsuit seeking to hold Exxon Mobil, BP, and Shell liable for misleading the public about climate change. The court found that the city had failed to prove that the companies deceived New Yorkers about the climate effects of their products. The city's 2021 lawsuit alleged greenwashing under state consumer protection laws, but the judge ruled that the companies' statements represented "statements of aspiration, opinion, or puffery" rather than actionable deception. This was the second time a New York City climate lawsuit against Exxon Mobil had been dismissed.

Massachusetts Attorney General Maura Healey filed a consumer protection lawsuit against Exxon Mobil in 2019, alleging that the company's marketing of Synergy gasoline and Mobil 1 motor oil constituted greenwashing. In 2025, Exxon Mobil countersued Massachusetts, alleging that the state violated the company's equal protection rights by not properly complying with public records requests. In May 2026, Exxon Mobil accused the Massachusetts Attorney General's office of cropping a photograph presented to a witness in a deposition to make it appear that an Exxon station sign lacked disclaimers. The company has asked a Boston judge to strike the witness's deposition testimony.

Exxon Mobil is also challenging New York's Climate Change Superfund Act, a 2024 law that seeks $75 billion over 25 years from fossil fuel producers to fund climate adaptation costs. In 2026, a federal judge in the Northern District of New York sharply questioned the law's constitutionality, with the U.S. Chamber of Commerce and American Petroleum Institute arguing that the law is "really just a tort suit disguised." The case is pending and could ultimately reach the U.S. Supreme Court.

The company has faced climate change litigation from multiple states and municipalities, including cases in California, Colorado, Delaware, Maryland, and Rhode Island. The U.S. Supreme Court rejected the oil industry's petition to intervene in these state-level cases, allowing them to proceed in state courts. The outcomes of these cases could establish precedent for climate liability claims against fossil fuel producers.

Exxon Mobil has also faced scrutiny over its historical climate research. Investigations by InsideClimate News and the Los Angeles Times in 2015 alleged that Exxon's own scientists conducted research on climate change in the 1970s and 1980s that the company subsequently downplayed in public communications. The company has disputed these allegations and has pointed to its current investments in low-carbon technologies as evidence of its commitment to addressing climate change.