The Mobil Oil Corporation, now known as ExxonMobil and headquartered in Irving, Texas, was founded as part of the breakup of the Standard Oil Company. Due to the nature of its industry, the company made extensive use of products that contained asbestos. As a result, many former employees have developed health issues arising out of their exposure to asbestos fibers.
History of the Company
Mobil Oil began as a result of the order for Standard Oil to break apart into smaller companies after the U.S. Supreme Court found that the company violated federal antitrust laws. In 1931, two of the companies that were spawned out of the breakup, Vacuum Oil and Standard Oil of NY (Socony), merged into Socony Vacuum and sold a product called Mobilgas. In 1955, the company changed its name to Socony Mobil Oil, before becoming Mobil Oil in 1966.
Mobil merged with the Exxon Corporation in 1999, becoming ExxonMobil. Today, it is the largest publicly traded international oil and gas company in the world. ExxonMobil operates 38 oil refineries in 21 countries, capable of a combined daily refining capacity of 6.3 million barrels. The company produces and sells crude oil, petroleum products, and natural gas.