Exxon Mobil Corp (XOM) Stock Price & News

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Exxon Mobil History

Exxon Mobil has a long and complex history, dating back to the late 19th century and the rise of John D. Rockefeller’s Standard Oil empire. Here’s a brief overview:

Origins:

1866: The Vacuum Oil Company is founded, which would later become a key part of Mobil.
1870: John D. Rockefeller forms the Standard Oil Company of Ohio, which quickly grows into a dominant force in the oil industry.
1882: Standard Oil forms the Standard Oil Trust, consolidating its various holdings.
1890s: Standard Oil expands globally, facing accusations of anti-competitive practices.

Breakup and separate paths:

1911: The U.S. Supreme Court breaks up Standard Oil Trust into 34 separate companies, including:
- Standard Oil Company of New Jersey (Exxon): Becomes a major integrated oil company, expanding operations worldwide.
- Standard Oil Company of New York (Socony, later Mobil): Focuses on refining and marketing in the U.S. and abroad.
- Vacuum Oil Company (Mobil): Merges with Socony in 1931, forming Socony-Vacuum (later shortened to Mobil).

Post-breakup and merger:

Mid-20th century: Both Exxon and Mobil continue to grow and invest in exploration, production, refining, and marketing.
1999: Exxon and Mobil merge to form Exxon Mobil Corporation, becoming the world’s largest publicly traded oil company.

Recent history:

2000s-present: Exxon Mobil faces various challenges, including oil price fluctuations, environmental concerns, and geopolitical issues.
2023: Exxon Mobil remains a major player in the oil and gas industry, but also invests in renewable energy sources and carbon capture technologies.

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