Introduction
ExxonMobil searches for, develops, and produces natural gas, crude oil, petrochemicals, and other goods. It runs an upstream, downstream, and chemicals business for the oil and gas industry. Although the Upstream division makes the most profit, the Downstream segment earns the most revenue. ExxonMobil works in the fiercely competitive petrochemical and energy sectors. Private and state-owned businesses from throughout the world compete with it.
The Business Segments of ExxonMobil
ExxonMobil runs its business through three main divisions:
- Upstream
- Downstream
- Chemical
Each of these segments gives a breakdown of sales, other operating income, and earnings. Additionally, the company reports results for its corporate and financing sector, which supports the operational divisions and the company's carbon-free solutions sector by performing general administrative support tasks, financing, and insurance activities. This business unit lost $2.6 billion while generating no revenue. The preceding pie charts do not include the business and financing sector or any negative values in the segment breakdowns.
Upstream
ExxonMobil has operations worldwide and generates millions of gallons of net oil plus natural gas daily. The company's upstream activities are exploration, production, extraction, and marketing. Five distinct value chains make up its organisation:
- Deepwater
- Unconventional
- LNG
- crude oil
- Conventional
Downstream
ExxonMobil supplies millions of barrels of petroleum products daily and is a top producer of fuels and lubricants. A range of well-known trademarks and premium goods, like its Mobil 1 artificial lubricant, make up its downstream business area.
Chemical
One of the biggest chemical producers in the world, ExxonMobil sells millions of tonnes of chemicals annually. Olefins, polyolefins, aromatic hydrocarbons, and a wide range of other petrochemicals are all part of the Chemical segment's diverse product line. The section works closely with the upstream and downstream operations of the corporation.
Benefits For Their Staff
A career at ExxonMobil is built to last. Their perks complement every stage of life and help their employees thrive personally and professionally. To meet the most challenging energy issues, ExxonMobil works to build the most capable staff. For the duration of their careers, they are dedicated to their team. This entails top-notch pay and benefits, encouraging and motivating coworkers, and the freedom to explore different challenges and responsibilities.
They are aware that life does happen. ExxonMobil provides plans and perks to address any circumstance. Their important sectors of health, protection, finance, and living form the foundation of their varied products across their international offices. This is but a sample of the numerous advantages they provide to their employees.
Work-Life Harmony
Flexibility is essential to how we conduct business. Working remotely, paid overtime, and leaves of absence give employees the freedom to change their working conditions and schedule.
Wellness and Good Health
Their health benefits cover various requirements, from full coverage to preventative care and exercise programmes. Employees worldwide are supported by their specialised health management solutions and professional counsellors.
Enduring Safety
They offer you and your household financial security. Offerings like disability leave and life insurance guarantee economic security during trying times.
Financial Preparation
Some of the world's top savings plans are available from them. With the help of their team of specialists, they create and maintain financial stability.
Extra Life Advantages
Beyond their primary services, their employees can access various additional perks, such as financial aid, employee recognition, education reimbursement, and assistance with dependent care.
Recent ExxonMobil Developments
ExxonMobil declared on March 1, 2022, that in retaliation to Russia's incursion of Ukraine, it would start ceasing activities at the Sakhalin-1 development in Russia. The business declared that it would not be making any further investments in Russia and that it was also preparing to end the project. In its results press statement for the 4th quarter and FY 2021 on February 1, 2022, the firm stated that it has started repurchasing shares in the 1st quarter of FY 2022 in accordance with its previously disclosed buyback programme of approximately $10 billion throughout one to two years.
Conclusion
How ExxonMobil makes money? The ExxonMobil business model includes the manufacturing, processing, and marketing of hydrocarbons and products derived from them to customers, businesses, and refineries. The primary components of ExxonMobil's income and expense structure are outlined above. ExxonMobil records the sales proceeds from the selling of tangible goods.
