ExxonMobil Market Industry

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The merger of Exxon and Mobile happened in the year 1999 and ever since the two have gone on strong as it has become the largest corporation of the world in terms of market capitalization, figures standing at $517.92 billion in the year 2007. Also, ExxonMobil is one of the largest oil supermajors in the world, which stands at six currently. ExxonMobil’s daily production of 6.5 BOE (barrels of oil equivalent) is a true measure of its economic prosperity and it is because of such figures that ExxonMobil is regarded as first globally when the talk goes out loud concerning the oil and gas reserves among the corporate oil producers. A negative aspect of ExxonMobil is the fact that much criticism has been raised in the relevant quarters owing to its business practices and tarnished environmental record.The competition that ExxonMobil has to face on a consistent basis is manifold. It has to compete in a head-on manner with the petroleum companies of the world as well as the governments of powerful nations since it is on the latter’s approval that ExxonMobil could gain its share of voice within the industry. For that ExxonMobil does all it could in the name of building its image and such measures directly come under the public relations cadre. The different operating divisions of ExxonMobil are thus competing in an aggressive fashion with the varied units and divisions of the oil and gas companies globally. The different global operating divisions thus compete not only in terms of attaining strategic business for their segregated units but also the much-needed revenue which keeps ExxonMobil in business at the end of the day. The upstream operating divisions of ExxonMobil include its exploration company, the development company, the production unit, the gas and power marketing company and lastly the ExxonMobil Upstream research company. On the other hand, the downstream operating divisions comprise of the ExxonMobil refining and supply company.