INTRODUCTIONExxonMobil Corporation is the second largest integrated oil company in the world. In 2011 it ranked 3rd in the world's largest companies with a revenue of $354,674 million and total profit of $30460 million.ExxonMobil has evolved from a regional marketer of kerosene in the U.S. to the largest trader of petroleum and petrochemical enterprise in the world. They are best known by their familiar brand names: Exxon, Esso and Mobil and they supply to more than 40,000 service stations under this name. They make products that drive modern transportation, power cities, lubricate industry and provide petrochemical building blocks that lead to thousands of consumer goods. The company has ...view middle of the document...
The company produced synthetic lube base stocks and lube additives, propylene packaging films and catalysts. Manufacturing facilities were located in 10 countries.In 1972 Jersey Standard changed its name to Exxon Corporation as a trademark throughout the United States. Esso trademark was continued to be used in other countries. In 1970 Exxon, Mobil had developed in the Middle East, Africa, Asia, Gulf of Mexico.Exxon Chemical Company was a major producer and marketer of olefins, aromatics, polyethylene and polypropylene along with products such as elastomers, plasticizers, solvents, process fluids, oxo alcohols and adhesive resins. The company was an industry leader in metallocene catalyst technology to make unique polymers with improved performance. Manufacturing facilities were located in 24 countries.In 1999, Exxon and Mobil merged together and formed a new company called ExxonMobil Corporation. This was the largest merger in the history. This proved to be a great advantage for them and they became more competitive in the volatile world. The existing Mobil shareholders own about 30 per cent of the new company, while existing Exxon shareholders own about 70 per cent.This company has a comparative advantage over its competitors due to economies of scale that help in reducing the production costs and also technological advantage that helps in reducing these costs through optimal drilling and pipelines used in transporting their products.The long established brand name of ExxonMobil gives customers a sense of security while dealing with the company. The company spends a lot on research and development to come up with efficient ways to manage the energy resources and reduce the negative impact on the environment. They are very committed in taking action to reduce greenhouse gas emissions. This includes investing in energy efficiency in their facilities, working with auto and engine makers on programs that could significantly reduce vehicle emissions. The biggest opportunity of this company is the increasing demand of energy by leading economies in the South Asian and South East Asian regions like Vietnam, Malaysia, Korea and Indonesia.The factors which have lead to the success of ExxonMobil are:Commitment to technology leadershipGlobal distribution and strong brand imageLarge refinery capacity and financial strengthVertical integration of businessCost efficiency and increased profitsCompetitive advantageCRITICAL SUCCESS FACTORS OF EXXONMOBIL:COMMITMENT TO TECHNOLOGY LEADERSHIPTechnology leadership is another critical factor contributes to the success of Exxon Mobil in the oil and gas industry. Obviously, in this area, the technology leadership is mainly used for exploring, discovering, refining, storing, and transportation oil products. Hence, the ability to find new energy sources in shortest period of time in any condition has been seen as an essential element of any oil companies want to be the market leader. It determines the efficien...
