About Exxon Mobil

Mobil Chemical Company was established in 1960. As of 1999, principal products included basic olefins and aromatics, ethylene glycol and polyethylene. The company produced synthetic lube base stocks as well as lube additives, propylene packaging films and catalysts. Manufacturing facilities were located in 10 countries.

Exxon Chemical Company became a worldwide organization in 1965 and in 1999 was a major producer and marketer of olefins, aromatics, polyethylene and polypropylene along with speciality lines 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.

The two chemical companies combined their operations within ExxonMobil Chemical.

In 1955, Socony-Vacuum became Socony Mobil Oil Co. and, in 1966, simply Mobil Oil Corp. . A decade later, a newly incorporated Mobil Corporation embraced Mobil Oil as a wholly owned subsidiary. Jersey Standard changed its name to Exxon Corporation in 1972 and established Exxon as an uncontested trademark throughout the United States. In other parts of the world, Exxon and its affiliated companies continued to use its long-time Esso trademark and affiliate name.

In the 1970s, the oil industry and the world were rocked by an Arab oil embargo and by revolution in Iran. Both events triggered disruptions in oil supplies, extreme price hikes, conservation efforts and the development of alternative energy sources. Exxon, Mobil and other companies escalated exploration and development outside the Middle East - in the North Sea, the Gulf of Mexico, Africa and Asia. By the early 1980s, oil was in surplus, and prices fell.

For the remainder of the 20th century, Exxon and Mobil continued to operate in a relatively low-price, low-margin environment. Markets in the United States and Europe matured. Regulations became more stringent. Competitiveness tightened worldwide. Each company continued to advance new technologies, introduce marketing innovations and extend its reach into emerging, high-growth markets. The two companies became more efficient, reduced costs and increased shareholder value.

In 1998, Exxon and Mobil signed a definitive agreement to merge and form a new company called Exxon Mobil Corporation. "This merger will enhance our ability to be an effective global competitor in a volatile world economy and in an industry that is more and more competitive," said Lee Raymond and Lou Noto, chairmen and chief executive officers of Exxon and Mobil, respectively. After shareholder and regulatory approvals, the merger was completed November 30, 1999.