ExxonMobil key facts
The ExxonMobil Corporation is a U.S. oil and gas corporation, headquartered in Irving, Texas. It was formed in 1999 through the fusion of Exxon and Mobil, previously known as Standard Oil of New York and Standard Oil of New Jersey respectively. The company traces its roots back to John D. Rockeffeller’s Standard Oil Company, which was founded in 1870. Today, ExxonMobil is one of the largest companies in the world.
According to the Financial Times Global 500 list for 2015, ExxonMobil is the world’s number one oil and gas company based on market value. As of 2016, ExxonMobil had a market value of some 374.4 billion U.S. dollars. Based on 2015 revenue, ExxonMobil was the fifth largest company worldwide, topped by Wal-Mart and three other oil and gas companies: Sinopec, Royal Dutch Shell, and PetroChina.
Research and development expenditure in the oil and gas industry is not as high as in some other major industries. For example, the chemical industry spends around three percent of its revenue for R&D purposes. Pharmaceutical companies spend even more – often between 15 and 20 percent. In 2015, ExxonMobil spent around one billion US dollars on research and development. One decade earlier, in 2005, this figure stood at some 700 million U.S. dollars. However, oil and gas companies like ExxonMobil always have to cover exploration expenses. In 2015, these costs came to some 1.5 billion U.S. dollars for ExxonMobil. The highest expenditure of ExxonMobil was on crude oil and production purchases. These stood at some 130 billion U.S. dollars in 2015.