Mobil Oil Corporation, now known as ExxonMobil, is the world’s largest publicly traded international oil and gas company. The company explores for, produces, and sells crude oil, natural gas, and petroleum products. Mobil Oil merged with the Exxon Corporation in 1999. The company is a target for asbestos litigation because of the amount of asbestos once used in the drilling for and harvesting of oil.
Before the merger, Mobil Oil was an independent corporation that was created as a result of the U.S. Supreme Court’s anti-trust judgment of 1911. The court ruled that Standard Oil violated the country’s anti-trust regulations, and it ordered the company to be separated into 34 smaller companies.
In 1931, two of the newly formed companies, Vacuum Oil and Standard Oil of NY (Socony), merged to form Socony Vacuum. Vacuum was selling a product called Mobilgas and Standard had been using the Pegasus icon, which would later become Mobil Oil’s symbol.
In 1955, the name of the company was changed to Socony Mobil Oil, and in 1966, it was simplified to Mobil Oil. By this time, Mobil Oil also enjoyed a huge presence in Europe including the ownership of petrol stations, oil refineries, lubricant plants, and petrochemical installations.
In the 1980s, Mobil Europe entered a joint venture with British Petroleum (BP) to sell fuels and lubricants to companies, organizations and consumers. The joint venture would later be divided as a condition of the Mobil/Exxon merger, with Mobil retaining the lubrication business and BP holding onto all the remaining production and marketing activities that were involved in the joint venture.
Today, the ExxonMobil Company operates 38 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels, according to corporate records.
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Matt Mauney is an award-winning journalist with nearly a decade of professional writing experience. He joined Asbestos.com in 2016, and he spends much of his time reading, analyzing and reporting on mesothelioma research articles to ensure people in the mesothelioma community know the latest medical advancements. Prior to joining Asbestos.com, Matt was a reporter at the Orlando Sentinel. Matt also edits some of the pages on the website. He also holds a certificate in health writing from the Centers for Disease Control and Prevention. Read More