Exxon and Mobil expanded their oil exploration operations
Posted: Thu Feb 20, 2025 4:05 am
In 1879, the Vacuum Oil Company was acquired by John Rockefeller's Standard Oil. In 1911, due to antitrust laws, Standard Oil was forced to break up into 34 companies, and the two spin-offs, Jersey Standard and Mobil Oil Corporation, continued their operations separately. In 1972, Jersey Standard was renamed Exxon Corporation. In 1999, Exxon Corporation and Mobil Oil Corporation merged again, forming the company ExxonMobil today.
Since the 1920s, oil consumption has been growing rapidly, and malaysia mobile database so have the revenues of oil companies. Jersey Standard has been distinguished by introducing various new petroleum products to the market. In 1930, Jersey Standard acquired the large company Humble Oil and became one of the largest suppliers in the world. In 1948, Jersey Standard began oil production in Saudi Arabia, and in 1959 in Libya.
In the 1960s, the company also entered the nuclear energy sector. In 1969, it established a subsidiary, Jersey Nuclear Company. At the same time, Mobil Oil Corporation was growing rapidly. In 1974, it launched Mobil 1, a lubricant that is still very popular today. In 1973, when the United States and European countries were under an oil embargo imposed by Arab countries, in the North Sea, the Gulf of Mexico, Asia, and Africa.
Since the 1920s, oil consumption has been growing rapidly, and malaysia mobile database so have the revenues of oil companies. Jersey Standard has been distinguished by introducing various new petroleum products to the market. In 1930, Jersey Standard acquired the large company Humble Oil and became one of the largest suppliers in the world. In 1948, Jersey Standard began oil production in Saudi Arabia, and in 1959 in Libya.
In the 1960s, the company also entered the nuclear energy sector. In 1969, it established a subsidiary, Jersey Nuclear Company. At the same time, Mobil Oil Corporation was growing rapidly. In 1974, it launched Mobil 1, a lubricant that is still very popular today. In 1973, when the United States and European countries were under an oil embargo imposed by Arab countries, in the North Sea, the Gulf of Mexico, Asia, and Africa.