ExxonMobil Corporation is a publicly owned American multinational oil and gas corporation headquartered in Spring, Texas. Established in 1999 through the merger of Exxon and Mobil, it traces its origins back to John D. Rockefeller's Standard Oil. The company is vertically integrated, operating across oil and gas exploration, production, and refining, as well as a chemicals division producing plastics and other chemical products. As of 2024, ExxonMobil employs approximately 59,280 people and reported revenues exceeding $1 billion. It is the largest investor-owned oil company globally and ranks among the largest companies in both the U.S. and the world by revenue. Institutional investors hold a significant portion of its shares, with major holders including The Vanguard Group, BlackRock, and State Street Corporation.
ExxonMobil plans to continue investing in oil and gas projects through 2050, expecting demand to remain consistent. This was stated by the president of the upstream division, Dan Ammann, on Thursday, June 1, at the BloombergNEF summit in Houston. Separately, ExxonMobil participated in discussions with Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia and other fuel operators, including Pertamina, Shell Indonesia, BP-AKR, and Vivo, regarding fuel stock. The company also announced plans for annual project spending between US$22 billion and US$27 billion from 2023 to 2027.
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