Search Results - Exxon Corporation

ExxonMobil

ExxonMobil Corporation ( ) is an American multinational oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. It was originally known as Exxon Corporation and was founded as the largest direct successor of John D. Rockefeller's Standard Oil, the modern company was formed in 1999 following its merger with Mobil. It is vertically integrated across the entire oil and gas industry, as well as within its chemicals division, which produces plastic, synthetic rubber, and other chemical products. As the largest U.S.-based oil and gas company, ExxonMobil is the seventh-largest company by revenue in the U.S. and 13th-largest in the world. It is the largest investor-owned oil company in the world. Approximately 55.56% of the company's shares are held by institutions, the largest of which as of 2019 were The Vanguard Group (8.15%), BlackRock (6.61%), and State Street Corporation (4.83%).

The company has been widely criticized and sued, mostly for environmental incidents and its history of climate change denial against the scientific consensus that fossil fuels significantly contribute to global warming. The company is responsible for many oil spills, the largest and most notable of which was the 1989 ''Exxon Valdez'' oil spill in Alaska and itself considered to be one of the world's worst oil spills in terms of environmental damage. The company has been the target of accusations of human rights violations, excessive influence on American foreign policy, and its impact on developing countries.

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