EXXON MOBIL- NUMERO UNO

WRITTEN BY: ANURAG SAHOO

EXXON MOBIL- the name may not be as familiar to Indians as pepsi or mcdonalds. But this oil and gas major is, hold your breath, the world’s largest JOINT STOCK COMPANY. In 2009, it surprassed retail giant WALMART to emerge as the Rank 1 position holder in the FORTUNE 500. It is part of the six oil supermajors which also includes ROYAL DUTCH SHELL, CHEVRON, CONOCO PHILLIPS, BRITISH PETROLEUM and a French company TOTAL SA

It is formed by the merging of two companies- EXXON and MOBIL corporations. The amazing thing about these two companies are that these two companies took birth from the breakdown of the same company i.e THE STANDARD OIL COMPANY.

Now let’s me share some facts about THE STANDARD OIL COMPANY. It was an oil and gas founded by JOHN D. ROCKEFELLER, the wealthiest man ever. It achieved supernormal profits as it grew to demonic proportions. It got a near monopoly situation in the market of oil and gas when the US FEDERAL COURT and the government decided to break the company down to smaller units. Thus, major companies like CHEVRON, EXXON, MOBIL came into existence. Incredibly, these companies also made it to TOP 10 companies of FORTUNE 500.

Shifting our focus again to EXXON MOBIL, in 2008, it’s total assets stand at a whooping 228 billion USD. It has a reserve of 72 billion barrels which would last for 14 years.

I hope the readers have a good idea about a corporation, not well known in INDIA but is THE WORLD’S NO.1 in terms of market capitalization. So, next time when you are asked about No.1 company in FORTUNE 500, don’t tell it’s COCA COLA or SAMSUNG. We must not forget the fact that OIL is the most essential mineral we need.