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Thursday, January 3, 2019

Clinton Foundation

From Wikipedia, the free encyclopedia

Clinton Foundation
Clinton Foundation logo.png
Founded1997; 22 years ago
FounderBill Clinton
PurposeHumanitarian
Location
  • New York City
Area served
Worldwide
Key people
Bill Clinton (2001–present)
Hillary Clinton (2013–15)
Chelsea Clinton (2011–present)
Donna Shalala (president, 2015–2017)
Eric Braverman (president, 2013–2015)
Bruce Lindsey (president, 2004–2011)
Skip Rutherford (president, 1997–2004)
Ira Magaziner (head of Clinton Health Access Initiative)
Doug Band (originator of Clinton Global Initiative)
Revenue
$223 million (2015)
Employees
2,000 (2015)
Websitewww.clintonfoundation.org
Formerly called
William J. Clinton Foundation (1997)
Bill, Hillary & Chelsea Clinton Foundation (2013-2015)

The Clinton Foundation (founded in 1997 as the William J. Clinton Foundation and from 2013 to 2015 briefly renamed the Bill, Hillary & Chelsea Clinton Foundation) is a non-profit organization under section 501(c)(3) of the U.S. tax code. It was established by former President of the United States Bill Clinton with the stated mission to "strengthen the capacity of people in the United States and throughout the world to meet the challenges of global interdependence." Its offices are located in New York City and Little Rock, Arkansas.

Through 2016 the foundation had raised an estimated $2 billion from U.S. corporations, foreign governments and corporations, political donors, and various other groups and individuals. The acceptance of funds from wealthy donors has been a source of controversy. The foundation "has won accolades from philanthropy experts and has drawn bipartisan support". Charitable grants are not a major focus of the Clinton Foundation, which instead uses most of its money to carry out its own humanitarian programs.

This foundation is a public organization to which anyone may donate and is distinct from the Clinton Family Foundation, a private organization for personal Clinton family philanthropy.

According to the Clinton Foundation's website, neither Bill Clinton nor his daughter, Chelsea Clinton (both are members of the governing board), draws any salary or receives any income from the Foundation. When Hillary Clinton was a board member she reportedly also received no income from the Foundation.

History

The origins of the foundation go back to 1997, when then-president Bill Clinton was focused mostly on fundraising for the future Clinton Presidential Center in Little Rock, Arkansas. He founded the William J. Clinton Foundation in 2001 following the completion of his presidency. Longtime Clinton advisor Bruce Lindsey became the CEO in 2004. Later, Lindsey moved from being CEO to being chair, largely for health reasons. Other Clinton hands who played an important early role included Doug Band and Ira Magaziner. Additional Clinton associates who have had senior positions at the foundation include John Podesta and Laura Graham.

The foundation's success is spurred by Bill Clinton's worldwide fame and his ability to bring together corporate executives, celebrities, and government officials. Similarly, the foundation areas of involvement have often corresponded to whatever Bill suddenly felt an interest in.

Preceding Barack Obama's 2009 nomination of Hillary Clinton as United States Secretary of State, Bill Clinton agreed to accept a number of conditions and restrictions regarding his ongoing activities and fundraising efforts for the Clinton Presidential Center and the Clinton Global Initiative. Accordingly, a list of donors was released in December 2008.

By 2011, Chelsea Clinton was taking a dominant role in the foundation and had a seat on its board. To raise money for the Foundation, she gave paid speeches, such as her $65,000 2014 address at the University of Missouri in Kansas City for the opening of the Starr Women's Hall of Fame.

In 2013, Hillary Clinton joined the foundation following her tenure as Secretary of State. She planned to focus her work on issues regarding women and children, as well as economic development. Accordingly, at that point, it was renamed the "Bill, Hillary & Chelsea Clinton Foundation". Extra attention was paid to the foundation due to the 2016 United States presidential election.

In July 2013, Eric Braverman was named CEO of the foundation. He is a friend and former colleague of Chelsea Clinton from McKinsey & Company. At the same time, Chelsea Clinton was named vice chair of the foundation's board. The foundation was also in the midst of a move to two floors of the Time-Life Building in Midtown Manhattan.

Chelsea Clinton moved the organization to an outside review, conducted by the firm of Simpson Thacher & Bartlett. Its conclusions were made public in mid-2013. The main focus was to determine how the foundation could achieve firm financial footing that was not dependent upon the former president's fundraising abilities, how it could operate more like a permanent entity rather than a start-up organization, and thus how it could survive and prosper beyond Bill Clinton's lifetime. Dennis Cheng, a former Hillary Clinton campaign official and State Department deputy chief, was named to oversee a $250 million endowment drive. The review also found the management and structure of the foundation needed improvements, including an increase in the size of its board of directors that would have a more direct involvement in planning and budget activities. Additionally, the review said that all employees needed to understand the foundation's conflict of interest policies and that expense reports needed a more formal review process.

In January 2015, Braverman announced his resignation. Politico attributed the move to being "partly from a power struggle inside the foundation between and among the coterie of Clinton loyalists who have surrounded the former president for decades and who helped start and run the foundation." He was succeeded at first in an acting capacity by former deputy assistant secretary, Maura Pally.

On February 18, 2015, The Washington Post reported that, "the foundation has won accolades from philanthropy experts and has drawn bipartisan support, with members of the George W. Bush administration often participating in its programs." In March 2015, former Secretary of Health and Human Services in the Clinton administration, Donna Shalala, was selected to run the Clinton Foundation. She left in April 2017.

In August 2016 The Boston Globe's editorial board suggested that the Clinton Foundation cease accepting donations. The Globe's editorial board offered praise for the foundation's work but added that "as long as either of the Clintons are in public office, or actively seeking it, they should not operate a charity, too" because it represents a conflict of interest and a political distraction.

In 2016, Reuters reported that the Clinton Foundation suspected that it had been the target of a cyber security breach. As a consequence of the suspected cyber security breach, Clinton Foundation officials retained a security firm, FireEye, to evaluate its data systems. The cyber security breach has been described as sharing similarities with cyberattacks that targeted other institutions, such as the Democratic National Committee.

In October 2016, The Wall Street Journal reported that four FBI field offices—in New York, Los Angeles, Washington and Little Rock—had been collecting information about the Clinton Foundation to determine whether "there was evidence of financial crimes or influence-peddling". In a reported separate investigation, the Washington field office was investigating Terry McAuliffe before he became a board member of the Clinton Foundation.

CNN reported in January 2018 that the FBI is investigating allegations of corruption at the Clinton Foundation in Arkansas. Sources said that federal prosecutors are checking to see if foundation donors were improperly promised policy favors or special access to Hillary Clinton during her tenure as secretary of state in return for donations, and whether tax-exempt funds were misused by the foundation's leadership.

Board of directors

As of January 2018, the board members are:

Programs and initiatives

Clinton Health Access Initiative (CHAI)

As of January 1, 2010, the Clinton HIV/AIDS Initiative, an initiative of the Clinton Foundation, became a separate nonprofit organization called the Clinton Health Access Initiative (CHAI). Organizations such as the Clinton Foundation continue to supply anti-malarial drugs to Africa and other affected areas; according to director Inder Singh, in 2011 more than 12 million individuals will be supplied with subsidized anti-malarial drugs.

In May 2007, CHAI and UNITAID announced agreements that help middle-income and low-income countries save money on second-line drugs. The partnership also reduced the price of a once-daily first-line treatment to less than $1 per day.

CHAI was spun off into a separate organization in 2010; Ira Magaziner became its CEO (he had been a key figure in the Clinton health care plan of 1993). Chelsea Clinton joined its board in 2011, as did Tachi Yamada, former President of the Global Health Program at the Bill & Melinda Gates Foundation.

Clinton Global Initiative (CGI) and CGI U

President of Brazil Dilma Rousseff opens Clinton Global Initiative Latin America in Rio de Janeiro, 2013
 
The Clinton Global Initiative (CGI) was founded in 2005 by Bill Clinton. Doug Band, counselor to Bill, was heavily involved in the formation. Clinton has credited Band with being the originator of CGI and has noted that "Doug had the idea to do this." Band left his paid position at CGI in 2010, preferring to emphasize his Teneo business and family pursuits, but remains on the CGI advisory board. The overlap between CGI and Teneo, of which Bill was a paid advisor, drew criticism. Disgraced financier Jeffrey Epstein is also said, according to his lawyers, to have taken part in the conception of CGI.

Bill Clinton with Alonzo Mourning during CGI University Day of Service in Miami, Florida
 
In 2007, Bill started CGI U, which expanded the model of CGI to students, universities, and national youth organizations. CGI U has been held at Tulane University, the University of Texas at Austin, the University of Miami, the University of California, San Diego, The George Washington University, Washington University in St. Louis, Arizona State University, and University of California, Berkeley. Panelists and speakers have included Jon Stewart, Madeleine Albright, Vandana Shiva, Bill and Chelsea Clinton, Stephen Colbert, Jack Dorsey, Greg Stanton, U.S. Rep. Gabrielle Giffords, Shane Battier, Salman Khan (founder of Khan Academy), and U.S. Rep. John Lewis.

In September 2016, it was announced that the Initiative would be winding down to be discontinued and that 74 employees would be let go at the end of the year. In January 2017, it was announced that another 22 employees would be let go by April 15, 2017, and that CGI University would be continued.

Clinton Global Citizen Awards

The Clinton Global Citizen Awards are a set of awards which have been given by the Clinton Global Initiative every year since 2007. The awards are given to individuals who, in the opinion of the Clinton Foundation, are "outstanding individuals who exemplify global citizenship through their vision and leadership". Past recipients of the award include Mexican businessman and philanthropist Carlos Slim, Irish billionaire Denis O'Brien, Moroccan entrepreneur Mohammad Abbad Andaloussi, Rwandan President Paul Kagame, Afghan women's rights activist Suraya Pakzad, Dominican Republic President Leonel Fernández, and Pakistani labor rights activist Syeda Ghulam Fatima.

Clinton Climate Initiative (CCI)

In August 2006, Bill Clinton started a program to fight climate change, the Clinton Foundation's Climate Initiative (CCI) . The CCI directly runs various programs to prevent deforestation and to rehabilitate forests and other landscapes worldwide, develop clean energy, and help island nations threatened by rising ocean levels.

On August 1, 2006, the Foundation entered into a partnership with the Large Cities Climate Leadership Group, agreeing to provide resources to allow the participating cities to enter into an energy-saving product purchasing consortium and to provide technical and communications support.

In May 2007, CCI announced its first project which will help some large cities cut greenhouse gas emissions by facilitating retrofitting of existing buildings. Five large banks committed $1 billion each to help cities and building owners make energy-saving improvements aimed at lowering energy use and energy costs. At the 2007 Clinton Global Initiative, Bill Clinton announced the 1Sky campaign to accelerate bold federal policy on global warming. The 1Sky campaign supports at least an 80% reduction in climate pollution levels by 2050. 

On May 19, 2009, CCI announced the global Climate Positive Development Program where it will work with the U.S. Green Building Council to promote "climate positive" city growth.

Norway and Germany are among the countries co-financing projects with the CCI in numerous developing and third-world countries.

Clinton Development Initiative (CDI)

The Clinton Development Initiative, originally the Clinton Hunter Development Initiative, was formed in 2006 as a partnership with Scottish philanthropist Sir Tom Hunter's Hunter Foundation to target the root causes of poverty in Africa and promote sustainable economic growth.

The Alliance for a Healthier Generation

The Alliance for a Healthier Generation is a partnership between the Clinton Foundation and the American Heart Association that was working to end the childhood obesity epidemic in the United States by 2010. 

The Robert Wood Johnson Foundation, which provided an initial $8 million to start the Healthy Schools Program, awarded a $20 million grant to expand the program to over 8,000 schools in states with the highest obesity rates.

At the industry level, the Alliance struck agreements with major food and beverage manufacturers to provide kids with nutritional options, and established nutrition guidelines for school vending machines, stores and cafeterias to promote healthy eating. Some of the companies involved in these efforts are Coca-Cola, Cadbury plc, Campbell Soup Company, Groupe Danone, Kraft Foods, Mars and PepsiCo.

Clinton Giustra Sustainable Growth Initiative

Established in 2007 with Canadian mining executive Frank Giustra — founder of the petroleum company Pacific Rubiales (renamed Pacific Exploration & Production in 2015) — CGSGI describes itself as "pioneering an innovative approach to poverty alleviation." Giustra's involvement with the Clinton Foundation has been criticized by the International Business Times, the Washington Post, and the American Media Institute because it was accompanied by a sudden reversal in Hillary Clinton's position while Secretary of State concerning the United States–Colombia Free Trade Agreement, an agreement which she had previously opposed "as bad for labor rights."

Clinton Health Matters Initiative (CHMI)

In November 2012, Bill Clinton announced the launch of the Clinton Health Matters Initiative (CHMI). CHMI is a national initiative, building on the Clinton Foundation's work on global health and childhood obesity, that works to improve the health and well-being of people across the United States by activating individuals, communities, and organizations to make meaningful contributions to the health of others. CHMI holds an annual Health Matters conference every January in the Coachella Valley.

Disaster relief

The Foundation has funded extensive disaster relief programs following the 2004 Indian Ocean earthquake and Hurricane Katrina in 2005. Shortly after Hurricane Katrina hit, President George W. Bush asked former Presidents George H. W. Bush and Bill Clinton to raise funds to help rebuild the Gulf Coast region. The two Presidents, having worked together to assist victims of the Indian Ocean tsunami, established the Bush-Clinton Katrina Fund to identify and meet the unmet needs in the region, foster economic opportunity, and to improve the quality of life of those affected. In the first month after the hurricane, the Fund collected over 42,000 online donations alone; approximately $128.4 million has been received to date from all 50 states and $30.9 million from foreign countries. 

Both the foundation and the Clintons personally have been involved in Haiti before and after the 2010 Haiti earthquake. Bill Clinton was named the head of the Interim Haiti Recovery Commission (IHRC) in 2010 after serving as UN special envoy to Haiti in the immediate aftermath of the disaster. The Clinton Foundation itself raised $30m and played an important part in the creation of the Caracol Industrial Park. The IHRC mandate was removed by the Haitian legislature in 2011. 

No Ceilings project

In 2013, Hillary Clinton established a partnership between the foundation and the Bill and Melinda Gates Foundation to gather and study data on the progress of women and girls around the world since the United Nations Fourth World Conference On Women in Beijing in 1995. This is called "No Ceilings: The Full Participation Project." The project released a report in March 2015.

Charity review sources

In March, 2015, the charity watchdog group Charity Navigator added the Clinton Foundation to a watch list (a designation meant to warn donors that questions have been raised about an entity's practices), after several news organizations raised questions over donations from corporations and foreign governments. It removed the foundation from its watch list in late December of that year. In September 2016, it gave it its highest possible rating, four out of four stars, after its customary review of the Foundation's financial records and tax statements. A different charity monitor, CharityWatch, said that 88% of the foundation's money goes toward its charitable mission and gave the foundation an A rating for 2016. In 2015, based on revenue of $223 million and an expense ratio of 12% the foundation spent in excess of $26 million to complete its mission.

Private philanthropy

The Clinton Foundation is a public organization to which anyone may donate. Due to their similar names, the public foundation has sometimes been confused with the Clinton Family Foundation, which is reserved for the Clintons' private philanthropy. The two foundations have sometimes been conflated by news sources. The significantly smaller Clinton Family Foundation is a traditional private foundation that serves as the vehicle for their personal charitable giving. Headquartered in Chappaqua, New York, it received nearly all of the approximately $14 million the Clintons gave to charity from 2007–13.

Controversies

Transparency

Around 2007, the Clinton Foundation was criticized for a lack of transparency. Although U.S. law did not require charities, including presidential foundations, to disclose the identities of their contributors, critics said that the names of donors should be disclosed because Hillary Clinton was running to be the Democratic nominee for President of the United States. Commentator Matthew Yglesias opined in a Los Angeles Times op-ed that the Clintons should make public the names of foundation donors to avoid any appearance of impropriety.

Secretary of State Clinton meets with Qatari Emir Hamad bin Khalifa Al Thani, 21 September 2010
 
A lengthy donors list was then released by the Foundation in December 2008, which included several politically sensitive donors, such as the Kingdom of Saudi Arabia and Blackwater Worldwide. The Foundation stated that the disclosures would ensure that "not even the appearance of a conflict of interest" would exist once Hillary Clinton was Secretary of State.

The foundation has been criticized for receiving donations from Middle-Eastern countries which are seen to oppress women (stoning for adultery, not being able to drive, requiring a male guardian, etc.). These countries include Saudi Arabia ($10–25 million), UAE, and Qatar. The foundation accepted these donations even though Hillary Clinton's 2016 Presidential campaign platform guaranteed to break down barriers that held women back.

In November 2016, Reuters reported that "The Clinton Foundation has confirmed it accepted a $1 million gift from Qatar while Hillary Clinton was U.S. Secretary of State without informing the State Department, even though she had promised to let the agency review new or significantly increased support from foreign governments." Conservative columnist Jennifer Rubin opined that the Qatari gift "raised ethical questions" because of the nation's support for Hamas.

The ethics agreement between the State Department and the Clinton Foundation that had been put into force at the beginning of Hillary Clinton's tenure as Secretary of State in 2009 came under scrutiny from the news media during February 2015 as polls showed her the likely 2016 Democratic nominee for president. The Wall Street Journal reported that the Clinton Foundation had resumed accepting donations from foreign governments once Secretary Clinton's tenure had ended. Contributions from foreign donors, which are prohibited by law from contributing to political candidates in the U.S., constitute a major portion of the foundation's income. A Washington Post investigation in 2014 showed that there was "substantial overlap between the Clinton political machinery and the foundation". The investigation revealed that almost half of the major donors who had backed Ready for Hillary, a group which supported her 2016 presidency bid, had given at least $10,000 to the foundation, either personally or through foundations or companies they run. The Clinton Foundation's chief communications officer Craig Minassian explained that it is a "false choice to suggest that people who may be interested in supporting political causes wouldn’t also support philanthropic work."

A subsequent Washington Post inquiry into donations by foreign governments to the Clinton Foundation during the Secretary's tenure found, in addition to six cases where such governments continued making donations at the same level they had before Clinton became Secretary as envisioned under the agreement, one instance of a new donation, $500,000 from Algeria for earthquake relief in Haiti, that was outside the bounds of the continuation provision and should have received a special ethics review, but did not. Foundation officials said that if the former Secretary decided to run for president in 2016, they would again consider what steps to take in reference to foreign donations. But in general, they stressed that, "As with other global charities, we rely on the support of individuals, organizations, corporations and governments who have the shared goal of addressing critical global challenges in a meaningful way. When anyone contributes to the Clinton Foundation, it goes towards foundation programs that help save lives." State Department spokesperson Jen Psaki attested that the foundation's commitment to the ethics agreement in question "has been over and above the letter of the law". In August 2016, after Clinton's securing the Democratic nomination, the Clinton Foundation announced that it will stop accepting foreign donations if she were elected.

In March 2015, Reuters reported that the Clinton Health Access Initiative had failed to publish all of its donors, and to let the State Department review all of its donations from foreign governments after it was spun off from the Clinton Foundation in 2010. In April 2015, the New York Times reported that when Hillary Clinton was Secretary of State, the State Department had approved transactions that allowed Russian state-owned corporation Rosatom to take a majority stake in Uranium One, whose chairman had donated to the Clinton Foundation. The State Department "was one of nine government agencies, not to mention independent federal and state nuclear regulators, that had to sign off on the deal." FactCheck.org decided there is "no evidence" that the donations influenced Clinton’s official actions or that she was involved in the State Department's decision to approve the deal, and PolitiFact concluded that any "suggestion of a quid pro quo is unsubstantiated".

2015 State Department subpoena

In February 2016, The Washington Post reported that the United States Department of State issued a subpoena to the foundation in the fall of 2015. According to the report, the subpoena focused on "documents about the charity's projects that may have required approval from federal government during Hillary Clinton's term as secretary of state" and "also asked for records related to Huma Abedin, longtime Clinton aide who for six months in 2012 was employed simultaneously by the State Department, the foundation, Clinton's personal office, and a private consulting firm with ties to the Clintons."

ExxonMobil

From Wikipedia, the free encyclopedia

Public
Traded as
ISINUS30231G1022
IndustryEnergy: Oil and gas
Predecessor
FoundedNovember 30, 1999; 19 years ago
Headquarters ,
Area served
Worldwide
Key people
Darren Woods (chairman & CEO)
Products
RevenueIncrease US$237.1 billion (2017)
Increase US$12.07 billion (2017)
Increase US$19.71 billion (2017)
Total assetsIncrease US$348.7 billion (2017)
Total equityIncrease US$187.7 billion (2017)
Number of employees
69,600 (2017)
Subsidiaries
Websitecorporate.exxonmobil.com

Exxon Mobil Corporation, doing business as 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, and was formed on November 30, 1999 by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York).

The world's 9th largest company by revenue, ExxonMobil from 1996 to 2017 varied from the first to sixth largest publicly traded company by market capitalization. The company was ranked ninth globally in the Forbes Global 2000 list in 2016. ExxonMobil was the second most profitable company in the Fortune 500 in 2014. As of 2018, the company ranked second in the Fortune 500 rankings of the largest United States corporations by total revenue.

ExxonMobil is one of the largest of the world's Big Oil companies. As of 2007, it had daily production of 3.921 million BOE (barrels of oil equivalent); but significantly smaller than a number of national companies. In 2008, this was approximately 3 percent of world production, which is less than several of the largest state-owned petroleum companies. When ranked by oil and gas reserves, it is 14th in the world—with less than 1 percent of the total. ExxonMobil's reserves were 20 billion BOE at the end of 2016 and the 2007 rates of production were expected to last more than 14 years. 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, a title that was also associated with Standard Oil since its incorporation in 1870.

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 scientific consensus 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.

History

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

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. The Anglo-American Oil Company was established in the United Kingdom in 1888. In 1890, Standard Oil, together with local ship merchants in Bremen established Deutsch-Amerikanische Petroleum Gesellschaft (later: Esso A.G.). In 1891, a sale branch for the Netherlands and Belgium, American Petroleum Company, was established in Rotterdam. At the same year, a sale branch for Italy, Società Italo Americana pel Petrolio, was established in Venice.

The Standard Oil Trust was dissolved under the Sherman Antitrust Act in 1892; however, it reemerged as the Standard Oil Interests. 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. In 1898, Standard Oil of New Jersey acquired controlling stake in Imperial Oil of Canada. In 1899, Standard Oil Company of New Jersey became the holding company for the Standard Oil Interests. The anti-monopoly proceedings against the Standard Oil were launched in 1898. The reputation of Standard Oil in the public eye suffered badly after publication of Ida M. Tarbell's classic exposé 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.

1911 to 1950

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. In 1919, Jersey Standard acquired a 50% share in Humble Oil & Refining Co., a Texas oil producer. In 1920, it was listed on the New York Stock Exchange. 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).

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. 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. In 1928, Socony joined the Turkish Petroleum Company (Iraq Petroleum Company). In 1931, Socony merged with Vacuum Oil Company, an industry pioneer dating back to 1866, to form Socony-Vacuum.
 
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. 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.

In 1924, Jersey Standard and General Motors pooled its tetraethyllead-related patents and established the Ethyl Gasoline Corporation. 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. As a part of the cooperation between Jersey Standard and IG Farben, a joint company, Standard I.G. Company, was established with Jersey 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. In 1930, the joint company established Hydro Patents Company to license the hydrogenation process in the United States. 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. 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. In 1941, it opened the first commercial synthetic toluene plant.

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.

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. In 1940, Socony-Vacuum purchased the Gilmore Oil Company of California, which in 1945 was merged with another subsidiary, General Petroleum Corporation. In 1947, Jersey Standard and Royal Dutch Shell formed the joint venture Nederlandse Aardolie Maatschappij BV for oil and gas exploration and production in the Netherlands. In 1948, Jersey Standard and Socony-Vacuum acquired interests in the Arab-American Oil Company (Aramco).

1950 to 1972

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.

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.

In Libya, Jersey Standard made its first major oil discovery in 1959.

Mobil Chemical Company was established in 1960 and Exxon Chemical Company (first named Enjay Chemicals) in 1965.

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. Carter Oil focused on the developing synthetic fuels from coal. In 1966, it started to develop the coal liquefaction process called the Exxon Donor Solvent Process. In April 1980, Exxon opened a 250-ton-per-day pilot plant in Baytown, Texas. The plant was closed and dismantled in 1982.

In 1967, Mobil acquired a 28% strategic stake in the German fuel chain Aral.

In late 1960s Jersey Standard task force was looking for projects 30 years in the future. In April 1973, Exxon founded Solar Power Corporation, a wholly owned subsidiary for manufacturing of terrestrial photovoltaic cells. After 1980s oil glut Exxon's internal report projected that solar would not become viable until 2012 or 2013. Consequently, Exxon sold Solar Power Corporation in 1984. In 1974–1994, also Mobil developed solar energy through Mobil Tyco Solar Energy Corporation, its joint venture with Tyco Laboratories.

In late 1960s, Jersey Standard entered into the nuclear industry. In 1969, it created a subsidiary, Jersey Nuclear Company (later: Exxon Nuclear Company), for manufacturing and marketing of uranium fuel, which was to be fabricated from uranium concentrates mined by the mineral department of Humble Oil (later: Exxon Minerals Company). In 1970, Jersey Nuclear opened a nuclear fuel manufacturing facility, now owned by Areva, in Richland, Washington. In 1986, Exxon Nuclear was sold to Kraftwerk Union, a nuclear arm of Siemens. The company started surface mining of uranium ore in Converse County, Wyoming, in 1970, solution mining in 1972, and underground mining in 1977. Uranium ore processing started in 1972. The facility was closed in 1984. In 1973, Exxon acquired the Ray Point uranium ore processing facility which was shortly afterwards decommissioned.

1972 to 1998

In 1972, Exxon was unveiled as the new, unified brand name for all former Enco and Esso outlets. At the same time, the company changed its corporate name from Standard Oil of New Jersey to Exxon Corporation, and Humble Oil became Exxon Company, U.S.A. The rebranding came after successful test-marketing of the Exxon name, under two experimental logos, in the fall and winter of 1971-72. Along with the new name, Exxon settled on a rectangular logo using red lettering and blue trim on a white background, similar to the familiar color scheme on the old Enco and Esso logos. Exxon replaced the Esso, Enco, and Humble brands in the United States on January 1, 1973.

Due to the oil embargo of 1973, Exxon and Mobil began to expand their exploration and production into the North Sea, the Gulf of Mexico, Africa and Asia. Mobil diversified its activities into retail sale by acquiring the parent company of Montgomery Ward and Container Corporation.

In 1976, Exxon, through its subsidiary Intercor, entered into partnership with Colombian state owned company Carbocol to start coal mining in Cerrejón. In 1980, Exxon merged its assets in the mineral industry into newly established Exxon Minerals (later ExxonMobil Coal and Minerals). At the same year, Exxon entered into the oil shale industry by buying a 60% stake in the Colony Shale Oil Project in Colorado, United States, and 50% stake in the Rundle oil shale deposit in Queensland, Australia. On May 2, 1982, Exxon announced the termination of the Colony Shale Oil Project because of low oil-prices and increased expenses.

Mobil moved its headquarters from New York to Fairfax County, Virginia, in 1987. Exxon sold the Exxon Building (1251 Avenue of the Americas), its former headquarters in Rockefeller Center, to a unit of Mitsui Real Estate Development Co. Ltd. in 1986 for $610 million, and in 1989, moved its headquarters from Manhattan, New York City to the Las Colinas area of Irving, Texas. John Walsh, president of Exxon subsidiary Friendswood Development Company, stated that Exxon left New York because the costs were too high.

On March 24, 1989, the Exxon Valdez oil tanker struck Bligh Reef in Prince William Sound, Alaska and spilled more than 11 million US gallons (42,000 m3) of crude oil. The Exxon Valdez oil spill was the second largest in U.S. history, and in the aftermath of the Exxon Valdez incident, the U.S. Congress passed the Oil Pollution Act of 1990. An initial award of $5 billion USD punitive was reduced to $507.5 million by the US Supreme Court in June 2008, and distributions of this award have commenced.

In 1994, Mobil established a subsidiary MEGAS (Mobil European Gas) which became responsible for its Mobil's natural gas operations in Europe. In 1996, Mobil and British Petroleum merged their European refining and marketing of fuels and lubricants businesses. Mobil had 30% stake in fuels and 51% stake in lubricants businesses.

In 1996, Exxon entered into the Russian market by signing a production sharing agreement on the Sakhalin-I project.

1998 to 2000

In 1998, Exxon and Mobil signed a US$73.7 billion merger agreement forming a new company called Exxon Mobil Corp. (ExxonMobil), the largest oil company and the third largest company in the world. This was the largest corporate merger at that time. At the time of the merge, Exxon was the world's largest energy company while Mobil was the second largest oil and gas company in the United States. The merger announcement followed shortly after the merge of British Petroleum and Amoco, which was the largest industrial merger at the time. Formally, Mobil was bought by Exxon. Mobil's shareholders received 1.32 Exxon's share for each Mobil's share. As a result, the former Mobil's shareholders receives about 30% in the merged company while the stake of former Exxon's shareholders was about 70%. The head of Exxon Lee Raymond remained the chairman and chief executive of the new company and Mobil chief executive Lucio Noto became vice-chairman. The merger of Exxon and Mobil was unique in American history because it reunited the two largest companies of Standard Oil trust.

The merger was approved by the European Commission on September 29, 1999, and by the United States Federal Trade Commission on November 30, 1999. As a condition for the Exxon and Mobil merger, the European Commission ordered to dissolve the Mobil's partnership with BP, as also to sell its stake in Aral. As a result, BP acquired all fuels assets, two base oil plants, and a substantial part of the joint venture's finished lubricants business, while ExxonMobil acquired other base oil plants and a part of the finished lubricants business. The stake in Aral was sold to Vega Oel, later acquired by BP. The European Commission also demanded divesting of Mobil's MEGAS and Exxon's 25% stake in the German gas transmission company Thyssengas. MEGAS was acquired by Duke Energy and the stake in Thyssengas was acquired by RWE. The company also divested Exxon's aviation fuel business to BP and Mobil's certain pipeline capacity servicing Gatwick Airport. The Federal Trade Commission required to sell 2,431 gas stations in the Northeast and Mid-Atlantic (1,740), California (360), Texas (319), and Guam (12). In addition, ExxonMobil should sell its Benicia Refinery in California, terminal operations in Boston, the Washington, D.C. area and Guam, interest in the Colonial pipeline, Mobil's interest in the Trans-Alaska Pipeline System, Exxon's jet turbine oil business, and give-up the option to buy Tosco Corporation gas stations. The Benicia Refinery and 340 Exxon-branded stations in California were bought by Valero Energy Corporation in 2000.

2000 to present

ExxonMobil Chairman Rex Tillerson with Vice President Dick Cheney, 2007
 
In 2002, the company sold its stake in the Cerrejón coal mine in Colombia, and copper-mining business in Chile. At the same time, it renewed its interest in oil shale by developing the ExxonMobil Electrofrac in-situ extraction process. In 2014, the Bureau of Land Management approved their research and development project in Rio Blanco County, Colorado. However, in November 2015 the company relinquished its federal research, development and demonstration lease. In 2009, ExxonMobil phased-out coal mining by selling its last operational coal mine in the United States.

In 2008, ExxonMobil started to phase-out from the United States direct-served retail market by selling its service stations. The usage of Exxon and Mobil brands was franchised to the new owners.

In 2010, ExxonMobil bought XTO Energy, the company focused on development and production of unconventional resources.

In 2011, ExxonMobil started a strategic cooperation with Russian oil company Rosneft to develop the East-Prinovozemelsky field in the Kara Sea and the Tuapse field in the Black Sea. In 2012, ExxonMobil concluded an agreement with Rosneft to assess possibilities to produce tight oil from Bazhenov and Achimov formations in Western Siberia. In 2018, due to international sanctions imposed against Russia and Rosneft, ExxonMobil announces that it will end ethese joint ventures with Rosneft, but will continue the Sakhalin-I project. The company estimates it would cost about $200 million after tax.

In 2012, ExxonMobil started a coalbed methane development in Australia, but withdrew from the project in 2014.

In 2012, ExxonMobil confirmed a deal for production and exploration activities in the Kurdistan region of Iraq.

In November 2013, ExxonMobil agreed to sell its majority stakes in a Hong Kong-based utility and power storage firm, Castle Peak Co Ltd, for a total of $3.4 billion, to CLP Holdings.

In 2014, ExxonMobil had two "non-monetary" asset swap deals with LINN Energy LLC. In these transactions, ExxonMobil gave to LINN interests in the South Belridge and Hugoton gas fields in the exchange of assets in the Permian Basin in Texas and the Delaware Basin in New Mexico.

On October 9, 2014, the International Centre for Settlement of Investment Disputes awarded ExxonMobil $1.6 billion in the case the company had brought against the Venezuelan government. ExxonMobil alleged that the Venezuelan government illegally expropriated its Venezuelan assets in 2007 and paid unfair compensation.

In September 2016, the Securities and Exchange Commission contacted ExxonMobil, questioning why (unlike some other companies) they had not yet started writing down the value of their oil reserves, given that much may have to remain in the ground to comply with future climate change legislation. Mark Carney has expressed concerns about the industry's "stranded assets". In October 2016, ExxonMobil conceded it may need to declare a lower value for its in-ground oil, and that it might write down about one-fifth of its reserves.

Also in September 2016, ExxonMobil successfully asked a U.S. federal court to lift the trademark injunction that banned it from using the Esso brand in various U.S. states. By this time, as a result of numerous mergers and rebranding, the remaining Standard Oil companies that previously objected to the Esso name had been acquired by BP. ExxonMobil cited trademark surveys in which there was no longer possible confusion with the Esso name as it was more than seven decades before. BP also had no objection to lifting the ban. ExxonMobil did not specify whether they would now open new stations in the U.S. under the Esso name; they were primarily concerned about the additional expenses of having separate marketing, letterheads, packaging, and other materials that omit "Esso".

On December 13, 2016, the CEO of ExxonMobil, Rex Tillerson, was nominated as Secretary of State by President-elect Donald Trump.

In January 2017, Federal climate investigations of ExxonMobil were considered less likely under the new Trump administration.

On January 9, 2017, it was revealed that Infineum, a joint venture of ExxonMobil and Royal Dutch Shell headquartered in England, conducted business with Iran, Syria, and Sudan while those states were under US sanctions. ExxonMobil representatives said that because Infineum was based in Europe and the transactions did not involve any U.S. employees, this did not violate the sanctions.

In April 2017, Donald Trump's administration denied a request from ExxonMobil to allow it to resume oil drilling in Russia. Representative Adam Schiff (D-California) said that the "Treasury Department should reject any waiver from sanctions which would allow Exxon Mobile or any other company to resume business with prohibited Russian entities."

In July 2017, ExxonMobil filed a lawsuit against the Trump administration challenging the finding that the company violated sanctions imposed on Russia. William Holbrook, a company spokesman, said that the ExxonMobil had followed "clear guidance from the White House and Treasury Department when its representatives signed [in May 2014] documents involving ongoing oil and gas activities in Russia with Rosneft".

Operations

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.

ExxonMobil is organized functionally into a number of global operating divisions. These divisions are grouped into three categories for reference purposes, though the company also has several ancillary divisions, such as Coal & Minerals, which are stand alone. It also owns hundreds of smaller subsidiaries such as Imperial Oil Limited (69.6% ownership) in Canada, and SeaRiver Maritime, a petroleum shipping company.
  • Upstream (oil exploration, extraction, shipping, and wholesale operations) based in Houston, Texas
  • Downstream (marketing, refining, and retail operations) based in Houston
  • Chemical division based in Houston, Texas

Upstream

The upstream division makes up the majority of ExxonMobil's revenue, accounting for approximately 70% of the total. In 2014, the company had 25.3 billion barrels (4.02×109 m3) of oil-equivalent reserves. In 2013, its reserves replacement ratio was 103%.

In the United States, ExxonMobil's petroleum exploration and production activities are concentrated in the Permian Basin, Bakken Formation, Woodford Shale, Caney Shale, and the Gulf of Mexico. In addition, ExxonMobil has several gas developments in the regions of Marcellus Shale, Utica Shale, Haynesville Shale, Barnett Shale, and Fayetteville Shale. All natural gas activities are conducted by its subsidiary, XTO Energy. As of December 31, 2014, ExxonMobil owned 14.6 million acres (59,000 km2) in the United States, of which 1.7 million acres (6,900 km2) were offshore, 1.5 million acres (6,100 km2) of which were in the Gulf of Mexico. In California, it has a joint venture called Aera Energy LLC with Shell Oil. In Canada, the company holds 5.4 million acres (22,000 km2), including 1 million acres (4,000 km2) offshore and 0.7 million acres (2,800 km2) of the Kearl Oil Sands Project.

In Argentina, ExxonMobil holds 0.9 million acres (3,600 km2), Germany 4.9 million acres (20,000 km2), in the Netherlands ExxonMobil owns 1.5 million acres (6,100 km2), in Norway it owns 0.4 million acres (1,600 km2) offshore, and the United Kingdom 0.6 million acres (2,400 km2) offshore. In Africa, upstream operations are concentrated in Angola where it owns 0.4 million acres (1,600 km2) offshore, Chad where it owns 46,000 acres (19,000 ha), Equatorial Guinea where it owns 0.1 million acres (400 km2) offshore, and Nigeria where it owns 0.8 million acres (3,200 km2) offshore. In addition, Exxon Mobil plans to start exploration activities off the coast of Liberia and the Ivory Coast. In the past, ExxonMobil had exploration activities in Madagascar, however these operations were ended due to unsatisfactory results.

In Asia, it holds 9,000 acres (3,600 ha) in Azerbaijan, 1.7 million acres (6,900 km2) in Indonesia, of which 1.3 million acres (5,300 km2) are offshore, 0.7 million acres (2,800 km2) in Iraq, 0.3 million acres (1,200 km2) in Kazakhstan, 0.2 million acres (810 km2) in Malaysia, 65,000 acres (26,000 ha) in Qatar, 10,000 acres (4,000 ha) in Yemen, 21,000 acres (8,500 ha) in Thailand, and 81,000 acres (33,000 ha) in the United Arab Emirates.

In Russia, ExxonMobil holds 85,000 acres (34,000 ha) in the Sakhalin-I project. Together with Rosneft, it has developed 63.6 million acres (257,000 km2) in Russia, including the East-Prinovozemelsky field. In Australia, ExxonMobil held 1.7 million acres (6,900 km2), including 1.6 million acres (6,500 km2) offshore. It also operates the Longford Gas Conditioning Plant, and participates in the development of Gorgon LNG project. In Papua New Guinea, it holds 1.1 million acres (4,500 km2), including the PNG Gas project.

Downstream

ExxonMobil markets products around the world under the brands of Exxon, Mobil, and Esso. Mobil is ExxonMobil's primary retail gasoline brand in California, Florida, New York, New England, the Great Lakes and the Midwest. Exxon is the primary brand in the rest of the United States, with the highest concentration of retail outlets located in New Jersey, Pennsylvania, Texas and in the Mid-Atlantic and Southeastern states. Esso is ExxonMobil's primary gasoline brand worldwide except in Australia and New Zealand, where the Mobil brand is used exclusively. In Colombia, both the Esso and Mobil brands are used.

In Japan, ExxonMobil has a 22% stake in TonenGeneral Sekiyu K.K., a refining company.

Chemicals

ExxonMobil Chemical is a petrochemical company which was created by merging Exxon's and Mobil's chemical industries. Its principal products includes basic olefins and aromatics, ethylene glycol, polyethylene, and polypropylene along with speciality lines such as elastomers, plasticizers, solvents, process fluids, oxo alcohols and adhesive resins. The company also produces synthetic lubricant base stocks as well as lubricant additives, propylene packaging films and catalysts. The company was an industry leader in metallocene catalyst technology to make unique polymers with improved performance. ExxonMobil is the largest producer of butyl rubber.

Infineum, a joint venture with Royal Dutch Shell, is manufacturing and marketing crankcase lubricant additives, fuel additives, and specialty lubricant additives, as well as automatic transmission fluids, gear oils, and industrial oils.

Clean technology research

ExxonMobil conducts research on clean energy technologies, including algae biofuels, biodiesel made from agricultural waste, carbonate fuel cells, and refining crude oil into plastic by using a membrane and osmosis instead of heat. However, it is unlikely the company will commercialize these projects before 2030.

Corporate affairs

Financial data

According to Fortune Global 500, ExxonMobil was the ninth largest company, sixth largest publicly held corporation, and third largest oil company by 2017 revenue. For the fiscal year 2017, ExxonMobil reported earnings of US$19.7 billion, with an annual revenue of US$244.363 billion, an increase of 17.4% over the previous fiscal cycle. 

Year Revenue
(mln. US$)
Net income
(mln. US$)
Total assets
(mln. US$)
Price per share
(US$)
Employees
2008 477,359 45,220 228,052 61.22 79,900
2009 310,586 19,280 233,323 53.68 80,700
2010 383,221 30,460 302,510 50.44 83,600
2011 486,429 41,060 331,052 63.40 82,100
2012 480,681 44,880 333,795 70.56 76,900
2013 438,255 32,580 346,808 75.78 75,000
2014 411,939 32,520 349,493 83.70 75,300
2015 249,248 16,150 336,758 73.45 73,500
2016 208,114 7,840 330,314 79.27 71,100
2017 244,363 19,710 348,691 77.98 69,600

Headquarters

ExxonMobil Building. Former ExxonMobil offices in Downtown Houston were vacated in early 2015.

ExxonMobil's headquarters are located in Irving, Texas. As of May 2015, the company was nearing completion of its new campus located in a northern Houston suburb of Spring, at the intersection of Interstate 45, the Hardy Toll Road, and the Grand Parkway northern extension. It is an elaborate corporate campus, including twenty office buildings totaling 3,000,000 square feet (280,000 m2), a wellness center, laboratory, and three parking garages. It is designed to house nearly 10,000 employees with an additional 1,500 employees located in a satellite campus in Hughes Landing in The Woodlands, Texas. In October 2010, the company stated that it would not move its headquarters to Greater Houston.

Management

The current chairman of the board and CEO of Exxon Mobil Corp. is Darren W. Woods. Woods was elected chairman of the board and CEO effective January 1, 2017 after the retirement of former chairman and CEO Rex Tillerson. Before his election as chairman and CEO, Woods was elected president of ExxonMobil and a member of the board of directors in 2016.

As of January 11, 2017, the current ExxonMobil board members are:

Environmental record

ExxonMobil's environmental record has faced much criticism for its stance and impact on global warming. In 2018, the Political Economy Research Institute ranks ExxonMobil tenth among American corporations emitting airborne pollutants, thirteenth by emitting greenhouse gases, and sixteenth by emitting water pollutants. As of 2005, ExxonMobil had committed less than 1% of their profits towards researching alternative energy, wich is according to the advocacy organization Ceres is less than other leading oil companies.

Climate change

From the late 1970s through the 1980s, Exxon funded research broadly in line with the developing public scientific approach. After the 1980s, Exxon curtailed its own climate research and was a leader in climate change denial. In 2014, ExxonMobil publicly acknowledged climate change risk. It nominally supports a carbon tax, though that support is weak.

ExxonMobil funded organizations opposed to the Kyoto Protocol and seeking to influence public opinion about the scientific consensus that global warming is caused by the burning of fossil fuels. ExxonMobil helped to found and lead the Global Climate Coalition, which opposed greenhouse gas emission regulation. In 2007 the Union of Concerned Scientists said that ExxonMobil granted $16 million, between 1998 and 2005, towards 43 advocacy organizations which dispute the impact of global warming, and that ExxonMobil used disinformation tactics similar to those used by the tobacco industry in its denials of the link between lung cancer and smoking, saying that the company used many of the same organizations and personnel to cloud the scientific understanding of climate change and delay action on the issue.

In 2015, the New York Attorney General launched an investigation whether ExxonMobil's statements to investors were consistent with the company's decades of extensive scientific research. In October 2018, based on this investigation, ExxonMobil was sued by the State of New York, which claimed the company defrauded shareholders by downplaying the risks of climate change for its businesses. On March 29, 2016, the attorneys general of Massachusetts and the United States Virgin Islands announced investigations. Seventeen attorneys general were cooperating on investigations. In June, the attorneys general of the United States Virgin Islands withdraw the subpoena.

Sakhalin-I

Scientists and environmental groups have voiced concern that the Sakhalin-I oil and gas project in the Russian Far East, operated by an ExxonMobil subsidiary Exxon Neftegas, threatens the critically endangered western gray whale population. Particular concerns were caused by the decision to construct a pier and to start shipping in Piltun Lagoon. ExxonMobil has responded that since 1997 the company has invested over $40 million to the western whale monitoring program.

New Jersey settlement

In 2004, the New Jersey Department of Environmental Protection sued ExxonMobil for $8.9 billion for lost wetland resources at Constable Hook in Bayonne and Bayway Refinery in Linden. Although a New Jersey Superior Court justice was believed to be close to a ruling, the Christie Administration repeatedly asked the judge to wait, since they were reaching a settlement with ExxonMobil's attorneys. On Friday, February 19th, 2015, lawyers for the Christie administration informed the judge that a deal had been reached. Details of the $225 million settlement - roughly 3% of what the state originally sought - were not immediately released. Christopher Porrino served as Chief Counsel to the Christie administration from January 2014 through July 2015 and handled negotiations in the case.

Human rights

ExxonMobil is the target of human rights activists for actions taken by the corporation in the Indonesian territory of Aceh. In June 2001, a lawsuit against ExxonMobil was filed in the Federal District Court of the District of Columbia under the Alien Tort Claims Act. The suit alleges that the ExxonMobil knowingly assisted human rights violations, including torture, murder and rape, by employing and providing material support to Indonesian military forces, who committed the alleged offenses during civil unrest in Aceh. Human rights complaints involving Exxon's (Exxon and Mobil had not yet merged) relationship with the Indonesian military first arose in 1992; the company denies these accusations and filed a motion to dismiss the suit, which was denied in 2008 by a federal judge. But another federal judge dismissed the lawsuit in August 2009. The plaintiffs are currently appealing the dismissal. ExxonMobil was ranked as the 12th best of 92 oil, gas, and mining companies on indigenous rights in its Arctic operations.

Geopolitical influence

A July 2012 Daily Telegraph review of Steve Coll's book, Private Empire: ExxonMobil and American Power, says that he thinks that ExxonMobil is "able to determine American foreign policy and the fate of entire nations". ExxonMobil increasingly drills in terrains leased to them by dictatorships, such as those in Chad and Equatorial Guinea. Steve Coll describes Lee Raymond, the corporation's chief executive until 2005, as "notoriously skeptical about climate change and disliked government interference at any level".

The book was also reviewed in The Economist, according to which "ExxonMobil is easy to caricature, and many critics have done so.... It is to Steve Coll's credit that Private Empire, his new book about ExxonMobil, refuses to subscribe to such a simplistic view." The review describes the company's power in dealing with the countries in which it drills as "constrained". It notes that the company shut down its operations in Indonesia to distance itself from the abuses committed against the population by that country's army, and that it decided to drill in Chad only after the World Bank agreed to ensure that the oil royalties were used for the population's benefit. The review closes by noting that "A world addicted to ExxonMobil's product needs to look in the mirror before being too critical of how relentlessly the company supplies it."

Accidents

Exxon Valdez oil spill

The March 24, 1989, Exxon Valdez oil spill resulted in the discharge of approximately 11 million US gallons (42,000 m3) of oil into Prince William Sound, oiling 1,300 miles (2,100 km) of the remote Alaskan coastline. The Valdez spill is 36th worst oil spill in history in terms of sheer volume.

The State of Alaska's Exxon Valdez Oil Spill Trustee Council stated that the spill "is widely considered the number one spill worldwide in terms of damage to the environment". Carcasses were found of over 35,000 birds and 1,000 sea otters. Because carcasses typically sink to the seafloor, it is estimated the death toll may be 250,000 seabirds, 2,800 sea otters, 300 harbor seals, 250 bald eagles, and up to 22 killer whales. Billions of salmon and herring eggs were also killed.

As of 2001, oil remained on or under more than half the sound's beaches, according to a 2001 federal survey. The government-created Exxon Valdez Oil Spill Trustee Council concluded that the oil disappears at less than 4 percent per year, adding that the oil will "take decades and possibly centuries to disappear entirely". Of the 27 species monitored by the council, 17 have not recovered. While the salmon population has rebounded, and the orca whales are recovering, the herring population and fishing industry have not.

Exxon was widely criticized for its slow response to cleaning up the disaster. John Devens, the Mayor of Valdez, has said his community felt betrayed by Exxon's inadequate response to the crisis. Exxon later removed the name "Exxon" from its tanker shipping subsidiary, which it renamed "SeaRiver Maritime". The renamed subsidiary, though wholly Exxon-controlled, has a separate corporate charter and board of directors, and the former Exxon Valdez is now the SeaRiver Mediterranean. The renamed tanker is legally owned by a small, stand-alone company, which would have minimal ability to pay out on claims in the event of a further accident.

After a trial, a jury ordered Exxon to pay $5 billion in punitive damages, though an appeals court reduced that amount by half. Exxon appealed further, and on June 25, 2008, the United States Supreme Court lowered the amount to $500 million.

In 2009, Exxon still uses more single-hull tankers than the rest of the largest ten oil companies combined, including the Valdez's sister ship, the SeaRiver Long Beach.

Exxon's Brooklyn oil spill

New York Attorney General Andrew Cuomo announced on July 17, 2007 that he had filed suit against the Exxon Mobil Corp. and ExxonMobil Refining and Supply Co. to force cleanup of the oil spill at Greenpoint, Brooklyn, and to restore Newtown Creek.

A study of the spill released by the US Environmental Protection Agency in September 2007 reported that the spill consists of 17 to 30 million US gallons (64,000 to 114,000 m3) of petroleum products from the mid-19th century to the mid-20th century. The largest portion of these operations were by ExxonMobil or its predecessors. By comparison, the Exxon Valdez oil spill was approximately 11 million US gallons (42,000 m3). The study reported that in the early 20th century Standard Oil of New York operated a major refinery in the area where the spill is located. The refinery produced fuel oils, gasoline, kerosene and solvents. Naptha and gas oil, secondary products, were also stored in the refinery area. Standard Oil of New York later became Mobil, a predecessor to Exxon/Mobil.

Baton Rouge Refinery pipeline oil spill

In April 2012, a crude oil pipeline, from the Exxon Corp Baton Rouge Refinery, burst and spilled at least 1,900 barrels of oil (80,000 gallons) in the rivers of Point Coupee Parish, Louisiana, shutting down the Exxon Corp Baton Refinery for a few days. Regulators opened an investigation in response to the pipeline oil spill.

Baton Rouge Refinery benzene leak

On June 14, 2012, a bleeder plug on a tank in the Baton Rouge Refinery failed and began leaking naphtha, a substance that is composed of many chemicals including benzene. ExxonMobil originally reported to the Louisiana Department of Environmental Quality (LDEQ) that 1,364 pounds of material had been leaked.

On June 18, Baton Rouge refinery representatives told the LDEQ that ExxonMobil's chemical team determined that the June 14 spill was actually a level 2 incident classification which means that a significant response to the leak was required. On the day of the spill the refinery did not report that their estimate of spilled materials was significantly different from what was originally reported to the department. Because the spill estimate and the actual amount of chemicals spilled varied drastically, the LDEQ launched an in-depth investigation on June 16 to determine the actual amounts of chemicals spilled as well as to find out what information the refinery knew and when they knew it. On June 20, ExxonMobil sent an official notification to the LDEQ saying that the leak had actually released 28,688 pounds of benzene, 10,882 pounds of toluene, 1,100 pounds of cyclohexane, 1,564 pounds of hexane and 12,605 pounds of additional volatile organic compound. After the spill, people living in neighboring communities reported adverse health impacts such as severe headaches and respiratory difficulties.

ExxonMobil refinery in Baton Rouge

Yellowstone River oil spill

Map of the Yellowstone River watershed

The July 2011 Yellowstone River oil spill was an oil spill from an ExxonMobil pipeline running from Silver Tip to Billings, Montana, which ruptured about 10 miles west of Billings on July 1, 2011, at about 11:30 pm. The resulting spill leaked an estimated 1,500 barrels of oil into the Yellowstone River for about 30 minutes before it was shut down, resulting in about $135 million in damages. As a precaution against a possible explosion, officials in Laurel, Montana evacuated about 140 people on Saturday (July 2) just after midnight, then allowed them to return at 4 am.

A spokesman for ExxonMobil said that the oil is within 10 miles of the spill site. However, Montana Governor Brian Schweitzer disputed the accuracy of that figure. The governor pledged that "The parties responsible will restore the Yellowstone River."

Mayflower oil spill

On March 29, 2013, the Pegasus Pipeline, owned by ExxonMobil and carrying Canadian Wabasca heavy crude, ruptured in Mayflower, Arkansas, releasing about 3,190 barrels (507 m3) of oil and forcing the evacuation of 22 homes. The Environmental Protection Agency has classified the leak as a major spill. In 2015, ExxonMobil settled charges that it violated the federal Clean Water Act and state environmental laws, for $5.07 million, including $4.19 million in civil penalties. It did not admit liability.

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