the company s subsidiaries see exxon and mobil . this article includes inline citations but they are not properly formatted . please improve this article by correcting them . january 2016 learn how and when to remove this template message exxon mobil corp. type public traded as nyse xom dow jones industrial average component s & p 500 component industry oil and gas predecessor exxon mobil founded november 30 1999 ; 16 years ago 1999 11 30 headquarters irving texas u.s. key people rex w. tillerson chairman and ceo 1 products crude oil oil products natural gas petrochemicals revenue us 268.88 billion 2 2015 operating income us 21.96 billion 2 2015 net income us 21.96 billion 2 2015 total assets us 349.49 billion 2 2015 total equity us 170.81 billion 2 2015 number of employees 75 300 2015 subsidiaries aera energy esso esso australia exxon exxon neftegas imperial oil 69.6 % syncrude 25 % mobil mobil producing nigeria seariver maritime superior oil co. vacuum oil co. xto energy website www.exxonmobil.com exxon mobil corp. exxonmobil is an american multinational oil and gas corporation headquartered in irving texas . it is the largest direct descendant of john d. rockefeller s standard oil company 3 and was formed on november 30 1999 by the merger of exxon formerly standard oil company of new jersey and mobil formerly the standard oil company of new york . the world s 8th largest company by revenue exxonmobil is also the fifth largest publicly traded company by market capitalization . 4 5 the company was ranked no. 6 globally in forbes global 2000 list in 2014 . 6 exxonmobil was the second most profitable company in the fortune 500 in 2014 . 7 exxonmobil is the largest of the world s supermajors 8 with daily production of 3.921 million boe . in 2008 this was approximately 3 percent of world production which is less than several of the largest state owned petroleum companies . 9 when ranked by oil and gas reserves it is 14th in the world with less than 1 percent of the total . 10 11 exxonmobil s reserves were 25.2 billion boe barrels of oil equivalent at the end of 2013 and the 2007 rates of production were expected to last more than 14 years . 12 with 37 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels 1 000 000 m3 exxonmobil is the largest refiner in the world 13 14 15 a title that was also associated with standard oil since its incorporation in 1870 . 3 exxonmobil has been criticized for its slow response to cleanup efforts after the 1989 exxon valdez oil spill in alaska widely considered to be one of the world s worst oil spills in terms of damage to the environment . exxonmobil has a history of lobbying for climate change denial and against the idea that global warming is caused by the burning of fossil fuels . the company has also been the target of accusations of improperly dealing with human rights issues influence on american foreign policy and its impact on the future of nations . 16 contents 1 history 1.1 1870 to 1911 1.2 1911 to 1950 1.3 1950 to 1972 1.4 1972 to 1998 1.5 1998 to 2000 1.6 2000 to present 2 operations 2.1 upstream 2.2 downstream 2.3 chemicals 3 corporate affairs 3.1 financial data 3.2 headquarters 3.3 management 4 environmental record 4.1 climate change 4.2 sakhalin i in the russian far east 5 human rights 6 geopolitical influence 7 accidents 7.1 exxon valdez oil spill 7.2 exxon s brooklyn oil spill 7.3 baton rouge refinery pipeline oil spill 7.4 baton rouge refinery benzene leak 7.5 yellowstone river oil spill 7.6 mayflower oil spill 8 see also 9 notes 10 references 10.1 bibliography 11 further reading 12 external links history edit chart of the major energy companies dubbed big oil sorted by latest published revenue exxonmobil was formed in 1999 by the merger of two major oil companies exxon and mobil . 1870 to 1911 edit main article standard oil both exxon and mobil were descendants of standard oil established by john d. rockefeller and partners in 1870 as the standard oil company of ohio . in 1882 it together with its affiliated companies was incorporated as the standard oil trust with standard oil company of new jersey and standard oil company of new york as its largest companies . 17 the anglo american oil company was established in the united kingdom in 1888 . 18 in 1890 standard oil together with local ship merchants in bremen established deutsch amerikanische petroleum gesellschaft later esso a.g. . 19 20 in 1891 a sale branch for the netherlands and belgium american petroleum company was established in rotterdam . 21 at the same year a sale branch for italy societ italo americana pel petrolio was established in venice . 22 the standard oil trust was dissolved under the sherman antitrust act in 1892 ; however it reemerged as the standard oil interests . 17 in 1893 the chinese and the whole asian kerosene market was assigned to standard oil company of new york in order to improve trade with the asian counterparts . 23 in 1898 standard oil of new jersey acquired controlling stake in imperial oil of canada . 19 in 1899 standard oil company of new jersey became the holding company for the standard oil interests . 17 the anti monopoly proceedings against the standard oil were launched in 1898 . 17 the reputation of standard oil in the public eye suffered badly after publication of ida m. tarbell s classic expos the history of the standard oil co. in 1904 leading to a growing outcry for the government to take action against the company . by 1911 with public outcry at a climax the supreme court of the united states ruled that standard oil must be dissolved and split into 34 companies . two of these companies were jersey standard standard oil co. of new jersey which eventually became exxon and socony standard oil co. of new york which eventually became mobil . 24 1911 to 1950 edit over the next few decades jersey standard and socony grew significantly . john duston archbold was the first president of jersey standard . archbold was followed by walter c. teagle in 1917 who made it the largest oil company in the world . 24 in 1919 jersey standard acquired a 50 % share in humble oil & refining co. a texas oil producer . 17 in 1920 it was listed on the new york stock exchange . 24 in the following years it acquired or established tropical oil company of colombia 1920 standard oil company of venezuela 1921 and creole petroleum company of venezuela 1928 . 19 henry clay folger was head of socony until 1923 when he was succeeded by herbert l. pratt . the growing automotive market inspired the product trademark mobiloil registered by socony in 1920 . citation needed after dissolution of standard oil socony had refining and marketing assets but no production activities . for this reason socony purchased a 45 % interest in magnolia petroleum co. a major refiner marketer and pipeline transporter in 1918 . in 1925 magnolia became wholly owned by socony . in 1926 socony purchased general petroleum corporation of california . 17 24 in 1928 socony joined the turkish petroleum company iraq petroleum company . 24 in 1931 socony merged with vacuum oil company an industry pioneer dating back to 1866 to form socony vacuum . 17 24 25 in the asia pacific region jersey standard has established through its dutch subsidiary an exploration and production company nederlandsche koloniale petroleum maatschappij in 1912 . in 1922 it found oil in indonesia and in 1927 it built a refinery in sumatra . 26 it had oil production and refineries but no marketing network . socony vacuum had asian marketing outlets supplied remotely from california . in 1933 jersey standard and socony vacuum merged their interests in the asia pacific region into a 50 50 joint venture . standard vacuum oil company or stanvac operated in 50 countries from east africa to new zealand before it was dissolved in 1962 . 17 in 1924 jersey standard and general motors pooled its tetraethyllead related patents and established the ethyl gasoline corporation . 27 in 1927 jersey standard signed a 25 years cooperation agreement with ig farben for the coal hydrogenation research in the united states . jersey standard assumed this cooperation to be beneficial as it believed the united states oil reserves to be exhausted in the near future and that the coal hydrogenation would give an access for producing synthetic fuels . it erected synthetic fuel plants in bayway baton rouge and baytown unfinished . the interest in hydrogenation evaporated after discovery of the east texas oil field . 28 as a part of the cooperation between jersey standard and ig farben a joint company standard i.g. company was established with jesey standard having a stake of 80 % . ig farben transferred rights to the hydrogenation process outside of germany to the joint venture in exchange of 35 million stake of jersey standard shares . 29 in 1930 the joint company established hydro patents company to license the hydrogenation process in the united states . 30 the agreement with ig farben gave to jersey standard access to patents related to polyisobutylene which assist jersey standard to advance in isobutolene polymerization and to produce the first butyl rubber in 1937 . 24 31 32 as the agreement with ig farben gave to the german company a veto right of licensing chemical industry patents in the united states including patent for butyl rubber jersey standard was accused of treason by senator harry s. truman . 33 in 1941 it opened the first commercial synthetic toluene plant . 24 in 1932 jersey standard acquired foreign assets of the pan american petroleum and transport company . in 1937 its assets in bolivia were nationalized followed by nationalization of its assets in mexico in 1938 . 24 in 1935 socony vacuum oil opened the huge mammoth oil port on staten island which had a capacity of handling a quarter of a billion gallons of petroleum products a year and could transship oil from ocean going tankers and river barges . 34 in 1940 socony vacuum purchased the gilmore oil company of california which 1946 was merged with its another subsidiary general petroleum corporation . 35 in 1947 jersey standard and royal dutch shell formed a joint venture nederlandse aardolie maatschappij bv for oil and gas exploration and production in the netherlands . 36 in 1948 jersey standard and socony vacuum acquired interests in the arab american oil company aramco . 17 37 1950 to 1972 edit in 1955 socony vacuum became socony mobil oil company . in 1959 magnolia petroleum company general petroleum corporation and mobil producing company were merged to form the mobil oil company a wholly owned subsidiary of socony mobil . in 1966 socony mobil oil company became the mobil oil corporation . 17 humble oil became a wholly owned subsidiary of jersey standard and was reorganized into the united states marketing division of jersey standard in 1959 . in 1967 humble oil purchased all remaining signal stations from standard oil company of california chevron in 1969 humble oil opened a new refinery in benicia california . citation needed in libya jersey standard made its first major oil discovery in 1959 . 17 mobil chemical company was established in 1960 and exxon chemical company first named enjay chemicals in 1965 . 17 in 1965 jersey standard started to acquire coal assets through its affiliate carter oil later renamed exxon coal u.s.a. . for managing the midwest and eastern coal assets in the united states the monterey coal company was established in 1969 . 38 carter oil focused on the developing synthetic