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ExxonMobil has grown tremendously in the last 125 years to become the largest publicly traded petroleum and petrochemical company in the world. The company had small beginnings as a regional marketer of kerosene, but has since undergone tremendous expansion over the years, along with strategic acquisitions to bring it to the forefront of the oil and gas industry. The company is known by its familiar brand names of Exxon, Esso, and Mobil.
HISTORY AND CORPORATE STRUCTURE
In 1859, the first successful oil well was drilled in Pennsylvania, ushering in a new industry. Ten years later, John Rockefeller formed Standard Oil. In 1911, the Supreme Court decision resulted in the breakup of Standard Oil into 34 unrelated companies, including Jersey Standard. Only 8 years later, Jersey Standard acquired a 50 percent interest in Humble Oil & Refining Company. Jersey Standard shortly thereafter developed a new brand for a blend of fuel, Esso, which employed the “S” and “O” of Standard Oil.
In 1927, Humble geophysicists discovered an oil field in Sugarland, Texas, leading to an increased oil presence within the Houston area. Jersey Standard and Socony-Vacuum continued to develop their business operations, producing butyl, developing commercial units in cat-cracking refineries, and developing the world’s first commercial production of alkylate throughout the 1930s. In 1963, Humble invented 3-D seismic technology which drastically improved the way the oil and gas industry searched for resources.
Jersey Standard officially changed its name to Exxon in 1972. Around the same time, Mobil invented a process for converting methanol into high-octane gasoline. In 1989, the tanker Exxon Valdez ran aground in Prince William Sound in Alaska, leading to focused attention on the safety measures put in place to protect the environment. In 1999, Exxon and Mobil merged together to form ExxonMobil Corporation. Since this time, the company has remained a key industry player in the oil and gas world and continues to develop and explore new wells throughout the world. In 2011, ExxonMobil announced two major oil discoveries in the Gulf of Mexico deepwater.
THE MALLEY LAW FIRM | HOUSTON MARITIME LAWYER
If you or a loved one have been injured in an offshore accident, do not hesitate to contact the Malley Law Firm. Tony Malley has years of experience in assisting clients with their maritime injury claims and will work tirelessly to ensure you receive the compensation you deserve for your injuries. As a victim of an offshore accident, you should not be held responsible to cover your own medical expenses and lost wages. Contact our Texas offices today for your initial free consultation.