ExxonMobil, a publicly owned corporation headquartered in Spring, Texas, a suburb of Houston, was founded in 1972, with the modern company formed in 1999 following the merger of Exxon and Mobil. The company employs approximately 59,280 individuals and reported $323.9B in revenue as of 2025. Specializing in oil and gas as its main product, ExxonMobil is an American multinational corporation that is vertically integrated across the entire oil and gas industry and includes a chemicals division that produces plastic, synthetic rubber, and other chemical products. It operates as the largest U.S.-based oil and gas company and the largest investor-owned oil company globally. Approximately 55.56% of the company's shares are held by institutions, with the largest holders as of 2019 identified as The Vanguard Group (8.15%), BlackRock (6.61%), and State Street Corporation (4.83%).
On August 7, 2026, Daewoo Engineering & Construction received a letter of intent to lead engineering, procurement, and construction (EPC) work on the first phase of Mozambique's Rovuma LNG development. Earlier the same day, ExxonMobil Moçambique issued a letter of intent to McDermott Power Options (UK) for limited engineering and procurement services related to the continuation of the Rovuma LNG Phase 1 midstream venture. Italian engineering and construction group Saipem also confirmed signing a letter of intent for the ExxonMobil-operated Rovuma LNG Phase 1 project in Mozambique, following a project update from its joint venture partner McDermott. Separately, LyondellBasell recognized a $74 million impairment charge in the second quarter of 2026 related to the Cyclyx Circularity Center (CCC) sorting and processing facility for plastic waste in Houston, Texas. The facility was originally developed by Cyclyx, a joint venture that includes ExxonMobil, Agilyx, and LyondellBasell.
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