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Exxon Mobil – Business Description


Exxon Mobil Corporation (Exxon Mobil) is engaged in exploration and production of crude oil and natural gas, manufacture of petroleum products, and transportation and sale of crude oil, natural gas, and petroleum products. The company also manufactures and markets commodity petrochemicals and specialty products. Exxon Mobil is also engaged in electric power generation. The company operates across the globe.

Exxon Mobil operates through three operating divisions: upstream, downstream, and chemicals. The company also has a non-operating division: corporate and finance.

The upstream division explores for and produces crude oil and natural gas.The company’s upstream business has operations in 31 countries and includes five global companies. These companies are responsible for the corporation’s exploration, development, production, gas and power marketing, and upstream-research activities. The company’s upstream portfolio includes operations in the US, Canada, South America, Europe, the Asia-Pacific, Australia, the Middle East, Russia, the Caspian, and Africa.

At the end of FY2007, the company had net reserves of 7,744 million barrels of oil and 32,610 million cubic feet of natural gas.The company had 16,836 of crude oil and 9,417 of natural gas net production wells at the end of FY2007. Exxon Mobil’s gross undeveloped exploration acreage totaled 118 million acres in 31 countries at the end of FY2007.

The company is also engaged in power generation. Exxon Mobil has interests in electric power generation facilities with total capacity of 15,500 megawatts (MW).

The company’s downstream activities include refining, supply, and fuels marketing. The company’s refining and supply business focuses on providing fuel products and feedstock. The company manufactures clean fuels, lubes, and other high-valued products. At the end of FY2007, the company had interests in 38 refineries across 21 countries, with distillation capacity of 6.3 million barrels per day and lubricant basestock manufacturing capacity of 140 thousand barrels per day.The company has interests in 12 lubricant refineries and manufactures three brands of finished lubricants (Exxon, Mobil, and Esso) through interests in over 35 blending plants. In FY2007, Exxon Mobil’s refinery throughput was 5.6 million barrels per day.

The fuels marketing business operates in over 100 countries. The Exxon, Mobil, and Esso brands serve motorists at nearly 32,000 service stations and provide over 1 million industrial and wholesale customers with fuel products. Fuel products and services are provided to aviation customers at more than 630 airports and to marine customers at more than 180 marine ports around the world. The company supplies lube base stocks and markets finished lubricants and specialty products.

The chemicals division manufactures and sells petrochemicals. Exxon Mobil Chemical is an integrated manufacturer and global marketer of olefins, aromatics, fluids, synthetic rubber, olyethylene, polypropylene, oriented polypropylene packaging films, plasticizers, synthetic lubricant base stocks, additives for fuels and lubricants, zeolite catalysts, and other petrochemical products.

Corporate and financing activities comprise the interest revenue relating to interest earned on cash deposits and marketable securities.