Jan 10, 1870 CE
Standard Oil Founded
John D. Rockefeller and partners founded Standard Oil Company in Ohio, which grew to control 90% of US oil refining by the 1880s. #business #history
Chronological Storyline (37 Milestones)
Jan 1, 1882 CE
Standard Oil Trust Established
The Standard Oil Trust was formed as one of the first major corporate trusts, centralizing control of numerous oil companies. #business #antitrust
Jul 2, 1890 CE
Sherman Antitrust Act Passed
The US Congress passed the Sherman Antitrust Act, which would later be used to break up Standard Oil. #law #history
By U.S. Government - Extracted from PDF version of Our Flag, available here (direct PDF URL here.), Public domain, https://commons.wikimedia.org/w/index.php?curid=41373752
May 15, 1911 CE
Standard Oil Broken Up
The US Supreme Court ordered the breakup of Standard Oil into 34 independent companies, including Standard Oil of New Jersey (later Exxon) and Standard Oil of New York (later Mobil). #antitrust #history
Aug 1, 1911 CE
Standard Oil of New Jersey Incorporated
Standard Oil of New Jersey (Jersey Standard) was reincorporated as a holding company, eventually becoming Exxon Corporation. #business
By Lanzao0o1 - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=91789703
Aug 1, 1911 CE
Standard Oil of New York Established
Standard Oil of New York (Socony) became a separate entity, later merging with Vacuum Oil to form Socony-Vacuum, predecessor of Mobil. #business
By Community Archives - 2017-85-13, CC0, https://commons.wikimedia.org/w/index.php?curid=68587680
Jul 31, 1928 CE
Red Line Agreement Signed
Jersey Standard and other Western oil companies signed the Red Line Agreement, carving up former Ottoman Empire oil reserves. #oil #history
By MyName (Wikiigb (talk)) - Own work, CC0, https://commons.wikimedia.org/w/index.php?curid=34921376
Apr 1, 1931 CE
Socony and Vacuum Oil Merge
Standard Oil of New York merged with Vacuum Oil to form Socony-Vacuum Corporation, a major integrated oil company. #merger #business
1948 CE
Jersey Standard Enters Saudi Arabia
Jersey Standard acquired a 30% stake in Aramco, gaining access to vast Saudi oil reserves. #oil #global
May 1, 1955 CE
Socony Mobil Oil Company Formed
Socony-Vacuum renamed to Socony Mobil Oil Company, reflecting the Mobil brand. #rebrand #business
1966 CE
Mobil Oil Corporation Named
Socony Mobil simplified its name to Mobil Oil Corporation. #rebrand #business
Nov 1, 1972 CE
Jersey Standard Renamed Exxon
Standard Oil of New Jersey changed its name to Exxon Corporation, adopting the Exxon brand nationwide. #rebrand #business
Oct 1, 1973 CE
1973 Oil Crisis Impacts Exxon and Mobil
The Arab oil embargo caused crude prices to quadruple, boosting profits but also straining relations with producing countries. #oilcrisis #economy
By Isochrone - Own work using: Spot Crude Oil Price: West Texas Intermediate (WTI), Dollars per Barrel, Monthly, Not Seasonally Adjusted WTI Spot Crude Oil Price, via the Federal Reserve Bank of St. Louis Inflation adjusted using: CPI Average, via the Federal Reserve Bank of St. Louis, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=156152880
1981 CE
Exxon Acquires Reliance Electric
Exxon purchased Reliance Electric for $1.6 billion to enter the electrical equipment business, later divested. #acquisition #diversification
Mar 24, 1989 CE
Exxon Valdez Oil Spill
The Exxon Valdez tanker ran aground in Prince William Sound, Alaska, spilling 11 million gallons of crude oil—one of the worst environmental disasters. #environment #disaster
By Exxon Valdez Oil Spill Trustee Council - https://evostc.state.ak.us/oil-spill-facts/photo-gallery/, Public domain, https://commons.wikimedia.org/w/index.php?curid=186351424
1993 CE
Exxon Acquires Canadian Oil Sands
Exxon increased its stake in the Syncrude oil sands project, expanding heavy oil operations in Canada. #oil #expansion
Dec 1, 1998 CE
Exxon and Mobil Announce Merger
Exxon and Mobil agreed to merge in a $73.7 billion deal, creating the world's largest publicly traded oil company. #merger #oil
Nov 30, 1999 CE
ExxonMobil Merger Completed
The merger officially closed, forming ExxonMobil Corporation with combined revenues over $200 billion. #merger #business
Oct 1, 2000 CE
ExxonMobil Becomes World's Largest Oil Company
With a market capitalization exceeding $300 billion, ExxonMobil surpassed General Electric as the most valuable company. #finance #oil
2001 CE
Lee Raymond Named CEO
Lee Raymond became chairman and CEO, leading ExxonMobil through a period of record profits and aggressive growth. #leadership #ceo
By Union20 - Own work, Public domain, https://commons.wikimedia.org/w/index.php?curid=90399929
Jan 1, 2005 CE
ExxonMobil Posts Record Profit
ExxonMobil reported net income of $25.3 billion for 2004, the largest annual profit in corporate history at the time. #finance #record
Jan 1, 2006 CE
Rex Tillerson Succeeds Lee Raymond
Rex Tillerson became CEO, focusing on natural gas and international expansion. #leadership #ceo
By United States Department of State - Secretary Rex Tillerson, Public domain, https://commons.wikimedia.org/w/index.php?curid=57976073
Dec 14, 2009 CE
ExxonMobil Acquires XTO Energy
ExxonMobil bought XTO Energy for $41 billion, significantly expanding its natural gas portfolio and unconventional resource holdings. #acquisition #naturalgas
By Unknown author - XTO-PDF, Public domain, https://commons.wikimedia.org/w/index.php?curid=46216122
Jun 1, 2010 CE
ExxonMobil Invests in Arctic Drilling
ExxonMobil signed a $3.2 billion deal with Rosneft to explore Arctic offshore oil, later halted by sanctions. #arctic #oil
Sep 1, 2014 CE
ExxonMobil Sanctions Arctic Exploration
ExxonMobil began drilling in the Kara Sea with Rosneft, but operations were suspended after US sanctions over Ukraine. #geopolitics #sanctions
Jan 1, 2017 CE
Darren Woods Becomes CEO
After Rex Tillerson's nomination as US Secretary of State, Darren Woods took over as chairman and CEO. #leadership #ceo
By World Economic Forum - YouTube: People, Policy, Finance: Realizing an Equitable Energy Transition – View/save archived versions on archive.org, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=148307851
2018 CE
ExxonMobil Announces $50B Gulf Coast Expansion
The company launched a massive petrochemical and refining expansion along the US Gulf Coast, emphasizing increased production. #investment #expansion
Aug 1, 2020 CE
ExxonMobil Removed from Dow Jones Industrial Average
ExxonMobil was replaced by Salesforce in the DJIA, reflecting the shift away from oil and gas in the index. #finance #index
By Lalala666 at English Wikipedia - Transferred from en.wikipedia to Commons., Public domain, https://commons.wikimedia.org/w/index.php?curid=2949742
Dec 1, 2020 CE
ExxonMobil Writes Down $20 Billion in Assets
Facing low oil prices, ExxonMobil took a massive impairment charge, its largest ever, on natural gas properties. #finance #impairment
May 26, 2021 CE
Activist Shareholders Win Board Seats
Engine No. 1, a small hedge fund, succeeded in electing three directors to ExxonMobil's board, pushing for climate action. #activism #climate
Feb 1, 2022 CE
ExxonMobil Exits Russia After Ukraine Invasion
ExxonMobil announced it would discontinue operations in Russia and exit the Sakhalin-1 project due to sanctions. #geopolitics #russia
Apr 1, 2022 CE
Record Profit of $55.7 Billion for 2022
ExxonMobil reported a record $55.7 billion profit in 2022, driven by high energy prices after the Ukraine war. #finance #record
Oct 11, 2023 CE
ExxonMobil Acquires Pioneer Natural Resources
ExxonMobil announced the acquisition of Pioneer Natural Resources for $59.5 billion, consolidating Permian Basin assets. #acquisition #oil
Dec 1, 2023 CE
ExxonMobil Targets Net-Zero by 2050
ExxonMobil updated its climate strategy, setting a goal of net-zero greenhouse gas emissions from operations by 2050. #climate #sustainability
Jan 1, 2024 CE
ExxonMobil Completes Pioneer Acquisition
The acquisition of Pioneer Natural Resources closed, making ExxonMobil the largest producer in the Permian Basin. #acquisition #oil
May 1, 2024 CE
ExxonMobil Launches Low-Carbon Hydrogen Project
ExxonMobil announced a $7 billion hydrogen plant in Baytown, Texas, aiming to produce low-carbon hydrogen for industrial use. #energy #hydrogen
Mar 1, 2025 CE
ExxonMobil Faces Shareholder Lawsuit Over Climate Risks
A shareholder lawsuit alleged ExxonMobil misled investors about the financial risks of climate change, reflecting ongoing legal challenges. #legal #climate