Mobil
Aerial view of the Mobil Chemical plant in Ontario, 1989 | |
| Formerly |
|
|---|---|
| Company type | Division |
| NYSE: MOB [1] S&P 500 component (until 1999) | |
| Predecessor | Standard Oil |
| Founded | 1867 (as Astral Oil Works) |
| Founder | Charles Pratt |
| Defunct | November 30, 1999 (as a company) |
| Fate | Merged with Exxon, remaining as a brand |
| Successor | ExxonMobil |
| Headquarters | Socony–Mobil Building, New York City, New York, U.S. |
Area served | Worldwide |
| Products | Gasoline, convenience store Some locations: Car wash, repair shop |
| Brands |
|
| Parent | ExxonMobil Corporation |
| Subsidiaries |
|
| Website | mobil.com |
Mobil Oil Corporation, or just Mobil, is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil, formerly known as Exxon, which took its name after it and Mobil merged in 1999.
A direct descendant of Standard Oil, Mobil was originally known as the Standard Oil Company of New York (shortened to Socony) after Standard Oil was split into 43 different entities in a 1911 Supreme Court decision. Socony merged with Vacuum Oil Company, from which the Mobil name first originated, in 1931 and subsequently renamed itself to "Socony-Vacuum Oil Company".[2] Over time, Mobil became the company's primary identity, which prompted a renaming in 1955 to the "Socony Mobil Oil Company", and then in 1966 to the "Mobil Oil Corporation". Mobil credits itself as the first company to introduce paying at the pump at its gas stations, the first company to produce aviation fuel, as well as the first company to introduce a mobile payment device, called Speedpass.[3][1]
In 1998, Mobil announced it was merging with Exxon to form ExxonMobil, reuniting the two largest descendants of Standard Oil. The technicalities of the merger, which was completed on November 30, 1999, showed that Exxon bought Mobil, and Mobil shareholders received a payment of stock in Exxon.[4][5] Mobil continues as a brand name within the combined company, as well as still being a gas station sometimes paired with its own store or On the Run. Mobil's brand name is primarily used to market motor oils, such as Mobil 1. The former Mobil headquarters in Fairfax County, Virginia, was used as ExxonMobil's downstream headquarters[6] until 2015 when ExxonMobil consolidated employees into a new corporate campus in Spring, Texas.[7]
- ^ a b "Exxon, Mobil to sell European assets". Dallas Business Journal. Retrieved September 17, 2022.
- ^ Webb, Jeffrey B.; Fee, Christopher R. (2024). Energy in American History: A Political, Social, and Environmental Encyclopedia [2 volumes]. New York: Bloomsbury Publishing USA. ISBN 979-8-216-17134-8.
- ^ "Our History | Exxon and Mobil". www.exxon.com. Archived from the original on December 7, 2021. Retrieved December 7, 2021.
- ^ Myerson, Allen R. (December 4, 1998). "The Lion and the Moose - How 2 Executives Pulled off the Biggest Merger Ever". The New York Times. Archived from the original on March 28, 2014. Retrieved July 24, 2010.
- ^ Kumar, B. Rajesh (2019), Kumar, B. Rajesh (ed.), "ExxonMobil Merger", Wealth Creation in the World’s Largest Mergers and Acquisitions: Integrated Case Studies, Management for Professionals, Cham: Springer International Publishing, pp. 101–109, doi:10.1007/978-3-030-02363-8_9, ISBN 978-3-030-02363-8, S2CID 239577792, retrieved September 15, 2022
- ^ "Mobil Corporation". Americancompanies.com. Archived from the original on September 15, 2010. Retrieved July 25, 2010.
- ^ "Our Houston campus". Exxonmobil.com. Archived from the original on October 3, 2015. Retrieved October 1, 2015.