ExxonMobil

ExxonMobil

ExxonMobil

ExxonMobil refers to an American multinational oil and gas company whose headquarters are in Irving, Texas. It originated from John D Rockefellers’s standard oil company. The corporation was formed in 1999 when Exxon merged with Mobil. Additionally, the company has an affiliation with Imperial Oil whose operations are in Canada. Hence, it ranks fifth in the world in terms of revenue. This company is also the second largest publicly traded company measured by market capitalization. Then, by the end of 2013, ExxonMobil had reserved approximately twenty-five billion barrels of oil. Its rates of production were predicted to last for more than fourteen years (Crow, 1999). In addition, the company has over thirty-seven refineries in twenty-one countries around the world. Thus, with a combined refinery capacity is six million three thousand barrels, it is the world’s largest refiner.

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In conclusion, ExxonMobil, like other oil and gas companies has interest in safeguarding its operations and avoiding extra costs resulting from formulation of unfavorable energy policies (Timney , 2004). Therefore, it contributes to political parties and uses its right of representation in the energy policy formulation committee to block or dilute the formulated policy.

References
Chicago, N. L. (2013, July 7). Blowing hot and cold. Retrieved from The Economist: http://www.economist.com/blogs/democracyinamerica/2013/06/energy-policy
Crow, P. (1999). Exxon-Mobil merger wins approval in EU. Oil & Gas Journal, 97 (43): 24.
Geri , L. R., & McNabb, D. F. (2011). “International Cooperation on Energy Policy.” Energy US. New York: CRC

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