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1976 Exxon Corporation

 

 

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Stock Code VM-EXC01

  Certificate for 100 shares of capital stock in the name of Adrienne Fuller Freeman.

Certificate size is 20 cm high x 30.5 cm wide (8" x 12").

Company History

Framed Certificate Price : 95.00

Certificate Only Price : 55.00

 

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Company History

Both Exxon and Mobil trace their roots to the late 19th century, when American industry was booming in numerous sectors - steel, railroads and banking, to name a few. The nation's young petroleum industry picked up the pace, too, to meet the growth in demand for kerosene, lubricants and greases.

John D. Rockefeller acquired a diversity of petroleum interests during that period and, in 1882, organized them under the Standard Oil Trust. That same year marked the incorporation of two refining and marketing organizations -- Standard Oil Co. of New Jersey and Standard Oil Co. of New York. "Jersey Standard" and "Socony," as they were commonly known, were the chief predecessor companies of Exxon and Mobil, respectively.

For both companies, the remainder of the century was a time of expansion beyond America's shores. Large "kerosene clippers" enabled overseas shipments of products in bulk quantities. Affiliates and sales offices of the two companies spread across Europe and Asia. Standard Oil's MEI FOO kerosene lamps introduced illumination across China and opened a vast new market.

In 1911, the U.S. Supreme Court ordered the dissolution of the Standard Oil Trust, resulting in the spin-off of 34 companies, including Jersey Standard and Socony. In the same year, the nation's kerosene output was eclipsed for the first time by a formerly discarded byproduct - gasoline. The growing automotive market ultimately inspired the product trademark Mobiloil, registered by Socony in 1920.

After the Standard Oil breakup, Jersey Standard and Socony separately faced rising competition with fewer resources at their disposal. Neither company was fully integrated. Over the next two decades, each company vigorously built up every segment of its businesses, from production and pipelines to refining and research. They also expanded across the U.S. and abroad.  

Big acquisitions and mergers helped: Jersey Standard acquired a 50 percent interest in Humble Oil & Refining Co., a Texas oil producer. Socony purchased a 45 percent interest in Magnolia Petroleum Co., a major refiner, marketer and pipeline transporter. In 1931, Socony merged with Vacuum Oil Co., an industry pioneer dating back to 1866 and a growing Standard Oil spin-off in its own right.

Distribution remained an issue for both companies. In the Asia-Pacific region, Jersey Standard had oil production and refineries in Indonesia but no marketing network. Socony-Vacuum had Asian marketing outlets supplied remotely from California. In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard-Vacuum Oil Co., or "Stanvac,"operated in 50 countries, from East Africa to New Zealand, before it was dissolved in 1962.

The spirit of expansion was temporarily interrupted by World War II. Each company beefed up refining output to supply the Allied war effort. Also aiding the cause were new technologies, such as Jersey Standard's groundbreaking process for boosting fuel octane and Socony-Vacuum's synthetic lubricants. Both companies suffered wartime casualties. Tankers and their crews were lost on the high seas. Refineries and other facilities in Europe and Asia were destroyed.

In the post-war years, renewed prosperity in the U.S. and rebuilding in Europe helped put Jersey Standard and Socony-Vacuum firmly back on their global growth tracks. New technologies and growing markets also spurred the development of petrochemicals and an array of derivative products.

Over the next years, ExxonMobil's predecessor companies learned to transform refinery by-products into many basic petrochemicals and numerous derivatives. Since the end of World War II, the two companies have each advanced technologies, expanded business lines and established markets in more than 100 countries.

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.

Source: www.exxon.com

 

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