Presented by: Clayton Lassiter. COMPANY HISTORY Originally founded in 1870 as part of the Standard Oil Company In 1911 Standard Oil Company was broken.

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Presentation transcript:

Presented by: Clayton Lassiter

COMPANY HISTORY Originally founded in 1870 as part of the Standard Oil Company In 1911 Standard Oil Company was broken up due to trust laws Esso was created in 1926 as one of the 34 different companies that came out of Standard Oil In 1972 Esso changed its name to Exxon Corporation In 1980 due to huge increase in oil prices, Exxon’s revenues exceeded 100 billion In 1999 Exxon completed the 84 billion dollar buyout of Mobil which put ExxonMobil as the largest Oil company in the world

CURRENTLY Currently Exxon is the largest publicly traded oil and gas company in the world Headquarters are in Irving, Texas CEO is Rex Tillerson With 37 refineries in 21 countries they are able to refine over 6 million barrels of oil a day, the most out of any company Almost 84,000 employees worldwide

THE EVIL EMPIRE Exxon has struggled with its image in the eyes of the public Many people criticized the move with Mobil claiming the government was letting Standard Oil Company reform Gas prices at new heights and the company still making record profits Environmental issues still lingering

FINANCIAL IMAGE 383 billion dollar revenue (2010) 25% increase from billion dollar profit (2010) 58% increase from 2009 Stock Price at $76.37 (as of Thursday) With the national average for unleaded at $3.42 nationwide, people have a hard time supporting a company with these types of numbers

MORE FINANCIAL CONTROVERSY Lee Raymond, former CEO of Exxon Know as the “brains” behind Exxon Retired in 2005 as the company's CEO Exxon reportedly gave him a 400 million dollar retirement package which was the largest in U.S. history for a public company

ENVIRONMENTAL ISSUES Exxon has struggled with environmental issues throughout its history Always been targeted with global warming due to their high emissions rate (15.5 million pounds) Many scientists have claimed that Exxon has funded different organizations to prove that global warming is not caused by greenhouse gases. Having troubles with major oil spills

EXXON VALDEZ OIL SPILL Exxon Valdez oil spill occurred on March 24, 1989 in the Prince William Sound outside of Alaska The spill was reported to dump 260,000 to 750,000 barrels of oil into the sound The cause of the spill was the ship Valdez running onto a reef as they were trying to dodge ice Environmentalists still call the spill “the worst man made disaster in history” Exxon had to pay over 5.2 billion dollars in damages

RECOVERY/ GOING GREEN Exxon’s recovery from all of their problems and allegations has forced the company in a new direction Exxon realized the need for alternative fuels CEO Rex Tilerson predicted that by 2030 natural gas will surpass coal as the number 2 energy source Exxon has invested in everything from horizontal drilling, to hydraulic fracturing, to oil sand research, to seismic mapping, to even creating their own chemical company Exxon Chemical It will be a long process but Exxon is on the right track to change their image and the future of energy

QUESTIONS?