- Business
- Exxon Mobil Corporation, formed in 1999 through the merger of Exxon and Mobil and headquartered in Spring, Texas, stands as one of the world's largest integrated energy companies, engaging in oil and gas exploration, production, refining, chemicals, and low-emission technologies across Upstream, Product Solutions, and Low Carbon Solutions divisions. The company offers a broad portfolio of products and services including crude oil and natural gas production from key regions such as the Permian Basin, Guyana, and Qatar; refined fuels and lubricants marketed under Exxon, Mobil, and Esso brands; petrochemicals encompassing olefins, aromatics, polyethylene, polypropylene, elastomers, synthetic rubber, and specialty chemicals; as well as lower-emission solutions like carbon capture and storage, hydrogen, biofuels, low-carbon ammonia, and advanced recycling technologies. ExxonMobil operates globally with significant presence in the United States, Canada, Guyana, Angola, Australia, Papua New Guinea, and Europe, serving industrial, commercial, and retail customers through 21 refineries, extensive pipeline networks, and chemical plants.
In recent developments, ExxonMobil completed its $65 billion all-share acquisition of Pioneer Natural Resources in 2024, doubling down on Permian Basin production and anticipating over $3 billion in annual synergies; acquired Denbury Inc. for $4.9 billion in 2023 to bolster its CO2 pipeline network for carbon capture initiatives; formed partnerships including a methane pyrolysis technology collaboration with BASF in 2025 for low-emission hydrogen production and a low-carbon ammonia supply deal with Marubeni; announced investments to expand the Enterprise Products Bahia NGL pipeline capacity by 400,000 barrels per day via the new Cowboy Connector Pipeline to support Permian growth; and launched the Prowaxx wax product brand while advancing plans for up to $30 billion in low-emission opportunities through 2030, including lithium mining and battery materials ventures.