ExxonMobil

Company:
With its headquarters in Irving, Texas, United States, ExxonMobil is a renowned publicly-
traded international oil and gas company which is located on six continents and also functions
in a number of countries. In addition to this, the company ranks as one of the largest refiners
and marketers of petroleum products.
What ExxonMobil does:
Being one of the largest chemical companies in the world, the said company seeks to develop
the world’s economic growth in the coming decades via making products like rubber,
alcohols, and solvents and also create thousands of employments. By initiating a liquefaction
project, the company would be able to produce around sixteen million tons of liquefied
natural gases per year.
The performance of ExxonMobil:
In my country, Guyana, ExxonMobil has mad eighteen oil discoveries since 2015. In 2019,
the Liza phase 1 development (vessel) started its production on the offshores of the
aforementioned country. It is estimated that more than two thousand Guyanese are now
supporting the project activities initiated by ExxonMobil, and statistics substantiates that by
showing a fifty percent increase since the first year of production (2019).
From the income of the oil findings on the offshores of Guyana, ExxonMobil Foundation
contributed US $10M in aid of a new collaboration with the Conservation International and
the University of Guyana to train Guyanese for the job offered at its company.
ExxonMobil has invested into more than two thousand Guyanese-based companies to aid
their development and competitiveness in the international arena. Also, the company, in the
year 2024 plans to produce over two hundred and twenty thousand (220,000) barrels per day
using the prosperity floating production, storage, and offshore vessel. For the year after that,
2025, it projects to produce seven hundred and fifty thousand (750,000) barrels per day.
Challenges and successes of ExxonMobil:
In the year 2015, ExxonMobil’s share price ecounter a fall of 5.1%, which was second to one
encountered in 2011. This was a result of the release of the company’s 2017 fourth quarter
earnings. In the said year, the company’s production in the US sustained a loss of two
hundred and fourty four thousand (244,000) barrels a day. Despite generating some of the
best returns on capital and assets in the energy sector, the company became embroiled in
several issues since the early 2010s. While its stocks were not generating good returns for
investors, its output was also declining.
References:

1. ExxonMobil - Challenges and Opportunities. (2019). Retrieved October 27, 2020,

from
https://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/ExxonMobil-
Excerpts.htm#CHALLENGES%20FOR%20EXXONMOBIL
2. Leggate, J. (2019). 5 things to know about Exxon Mobil, the world's largest public oil
company. Retrieved October 27, 2020, from
https://www.foxbusiness.com/money/exxon-mobil-worlds-largest-public-oil-
company-5-things-to-know
3. N. (Ed.). (2018). ExxonMobil Foundation invests US$10 Million in Guyana for
research, sustainable employment and conservation. Retrieved October 27, 2020.
4. N. (Ed.). (2020). ExxonMobil to proceed with Payara development offshore Guyana.
Retrieved October 27, 2020
https://corporate.exxonmobil.com/News/Newsroom/News-
releases/2020/0930_ExxonMobil-to-proceed-with-Payara-development-offshore-
Guyana