ECO 201 Exxon Mobil Corp Goris
ExxonMobil Corp.: A Case Study
Christina Goris
ECO 201 – Microeconomics
Dr Greg Randolph
June 13, 2014
Abstract
The purpose of this paper is to outline the company profile for Exxon Mobil; its business stance, policies, sustainability, economic responsibility and profitability. It will examine such factors as supply, demand, competitive advantages, market structure, and entry barriers. The oil and gas industry as a whole will referenced with the purpose of giving a better context to the environment in which Exxon Mobil operates. Recommendations for a more socially and economically responsible future will be made, as well as predictions based on company research for future business.
Introduction
ExxonMobil is an American-based multinational oil and gas corporation headquartered in Irving, Texas. ExxonMobil, formerly known as Standard Oil of New Jersey (Exxon) and Standard Oil of New York (Mobil), respectively, was once separate companies until the two merged on November 30, 1999. Both Standard Oils were descended from John D. Rockefeller’s Standard Oil Company. The company is also affiliated with Imperial Oil, which operates out of Canada (ExxonMobil, 2014).
The world 's sixth largest company by revenue, ExxonMobil is also the second largest publicly traded company by market share. The company was ranked number 6 in the world in Forbes Global 2000 list in 2014 (Forbes, 2014). ExxonMobil 's reserves were 72 billion BOE (barrels of oil equivalent) at the end of 2007 with expectations of that reserve to last approximately 14 years. ExxonMobil currently operates 37 oil refineries in 21 different countries worldwide, producing a combined 6.3 million barrels of refined oil daily. ExxonMobil is the largest refiner of oil in the world, an honor once given to Standard Oil in 1870 (ExxonMobil, 2014).
In 2008, ExxonMobil remained the largest of the world 's corporate super powers, producing 3.921 million barrels of oil daily in 2008, dropping from
Christina Goris
ECO 201 – Microeconomics
Dr Greg Randolph
June 13, 2014
Abstract
The purpose of this paper is to outline the company profile for Exxon Mobil; its business stance, policies, sustainability, economic responsibility and profitability. It will examine such factors as supply, demand, competitive advantages, market structure, and entry barriers. The oil and gas industry as a whole will referenced with the purpose of giving a better context to the environment in which Exxon Mobil operates. Recommendations for a more socially and economically responsible future will be made, as well as predictions based on company research for future business.
Introduction
ExxonMobil is an American-based multinational oil and gas corporation headquartered in Irving, Texas. ExxonMobil, formerly known as Standard Oil of New Jersey (Exxon) and Standard Oil of New York (Mobil), respectively, was once separate companies until the two merged on November 30, 1999. Both Standard Oils were descended from John D. Rockefeller’s Standard Oil Company. The company is also affiliated with Imperial Oil, which operates out of Canada (ExxonMobil, 2014).
The world 's sixth largest company by revenue, ExxonMobil is also the second largest publicly traded company by market share. The company was ranked number 6 in the world in Forbes Global 2000 list in 2014 (Forbes, 2014). ExxonMobil 's reserves were 72 billion BOE (barrels of oil equivalent) at the end of 2007 with expectations of that reserve to last approximately 14 years. ExxonMobil currently operates 37 oil refineries in 21 different countries worldwide, producing a combined 6.3 million barrels of refined oil daily. ExxonMobil is the largest refiner of oil in the world, an honor once given to Standard Oil in 1870 (ExxonMobil, 2014).
In 2008, ExxonMobil remained the largest of the world 's corporate super powers, producing 3.921 million barrels of oil daily in 2008, dropping from
References: Corporate Watch. (2014). Exxon Mobil and Esso UK. Retrieved from http://www.corporatewatch.org/content/exxon-mobil-overview. ExxonMobil. (2014). Our history. Retrieved from http://corporate.exxonmobil.com/en/company/about-us/history/overview. Forbes.com. (2014). The world’s biggest public companies. Retrieved from http://www.forbes.com/global2000/. Gaebler Ventures. (2013). How elastic is your business? Retrieved from http://www.gaebler.com/How-Elastic-Is-Your-Business.htm. In WriteWork.com. (2004). What is the structure of the world oil market? Retrieved from http://www.writework.com/essay/structure-world-oil-market. Personal Liberty. (2014). No viable substitute for oil, gas. Retrieved from http://personalliberty.com/no-viable-substitute-for-oil-gas/.