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Company > ExxonMobil: Business Model, SWOT Analysis, and Competitors 2023

ExxonMobil: Business Model, SWOT Analysis, and Competitors 2023

Published: Feb 24, 2023

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    ExxonMobil: Business Model, SWOT Analysis, and Competitors 2023

    In today's rapidly evolving energy landscape, ExxonMobil continues to be a key player, commanding a significant market share in the oil and gas industry. This blog article aims to provide a comprehensive overview of ExxonMobil's business model, analyzing its strengths, weaknesses, opportunities, and threats (SWOT). Furthermore, it will delve into the company's competitive landscape, exploring its main rivals and how they might impact ExxonMobil's future growth and sustainability. Join us as we dive into the intricacies of ExxonMobil's strategic positioning and examine what lies ahead for this industry giant in 2023.

    What You Will Learn:

    • Who owns ExxonMobil and the importance of understanding the ownership structure of a company.
    • The mission statement of ExxonMobil and how it guides the company's actions and decision-making.
    • How ExxonMobil makes money and the key revenue streams that contribute to its financial success.
    • An explanation of the ExxonMobil Business Model Canvas and how it helps in understanding the company's value proposition, key activities, resources, and partnerships.
    • Insight into the competitors of ExxonMobil and an understanding of the competitive landscape in which the company operates.
    • An overview of the ExxonMobil SWOT Analysis, which identifies the company's strengths, weaknesses, opportunities, and threats, providing a comprehensive understanding of its current position in the market.

    Who owns ExxonMobil?

    Shareholders and Ownership Structure

    ExxonMobil, one of the largest publicly traded multinational energy corporations, has a diverse ownership structure. As a publicly traded company, ownership of ExxonMobil is spread among numerous shareholders who own shares of the company's stock.

    Institutional Shareholders

    Institutional shareholders, such as pension funds, mutual funds, and other investment firms, play a significant role in ExxonMobil's ownership. These institutional investors often hold substantial amounts of the company's stock, influencing its decision-making process and overall direction. Some notable institutional shareholders of ExxonMobil include Vanguard Group, BlackRock, and State Street Corporation.

    Individual Shareholders

    Individual investors also make up a considerable portion of ExxonMobil's ownership. These shareholders can range from small retail investors to high-net-worth individuals. Owning stock in ExxonMobil allows them to participate in the company's financial performance and potentially benefit from dividend payments and capital appreciation.

    Founder's Family

    The founding family of ExxonMobil, the Rockefellers, still retains a significant ownership stake in the company. While their direct ownership has diminished over the years, their descendants and various trusts continue to hold a substantial number of shares. The family's historical ties to ExxonMobil contribute to its legacy and influence on the company's governance.

    Employee Ownership

    ExxonMobil also offers its employees the opportunity to become shareholders through various employee stock ownership plans (ESOPs) and stock purchase programs. This ownership structure aligns the interests of employees with those of the company, fostering a sense of ownership and commitment among its workforce.

    Foreign and Sovereign Wealth Funds

    Foreign investors and sovereign wealth funds also hold ownership stakes in ExxonMobil. These entities, often representing countries or government institutions, invest in the company as part of their diversified portfolios. Their ownership provides ExxonMobil with access to global markets and potentially opens doors to strategic partnerships and collaborations.


    The ownership of ExxonMobil is dispersed among a wide array of shareholders, including institutional investors, individual shareholders, the founding family, employees, and foreign entities. This diverse ownership structure reflects the company's global reach and the interests of various stakeholders. As ExxonMobil continues to navigate the ever-evolving energy landscape, its ownership composition will undoubtedly play a crucial role in shaping its future endeavors.

    What is the mission statement of ExxonMobil?

    The Mission Statement of ExxonMobil: Fostering Sustainable Growth through Innovation and Responsible Resource Management

    ExxonMobil, one of the world's largest publicly traded international oil and gas companies, operates with a clear mission statement that guides its actions and decisions. The company's mission is centered around fostering sustainable growth through innovation and responsible resource management.

    ExxonMobil's mission statement encompasses several key principles that define its approach to business. First and foremost, the company is committed to delivering energy to meet the growing global demand while maintaining a strong focus on safety, environmental stewardship, and ethical conduct.

    Innovation plays a crucial role in ExxonMobil's mission. The company recognizes the importance of constantly seeking new, more efficient ways to develop and deliver energy resources. By investing in research and development, ExxonMobil aims to discover breakthrough technologies and practices that can enhance energy production, reduce environmental impact, and address the challenges of a changing energy landscape.

    Responsible resource management is another vital aspect of ExxonMobil's mission. The company understands the significance of managing resources in a manner that ensures long-term sustainability. ExxonMobil strives to minimize its environmental footprint, conserve resources, and mitigate the impacts of its operations through careful planning and the implementation of robust environmental management systems.

    Furthermore, ExxonMobil's mission statement emphasizes the importance of operating with the highest standards of integrity and ethical behavior. The company is committed to conducting business with honesty, transparency, and fairness, while also fostering strong relationships with its stakeholders, including employees, customers, suppliers, and the communities in which it operates.

    In summary, ExxonMobil's mission statement reflects its dedication to fostering sustainable growth through innovation and responsible resource management. By prioritizing safety, environmental stewardship, ethical conduct, and continuous innovation, the company aims to contribute to a reliable and sustainable energy future while creating value for its stakeholders.

    How does ExxonMobil make money?

    Exploration and Production

    One of the primary ways ExxonMobil generates revenue is through exploration and production activities. The company invests heavily in locating and extracting oil and gas reserves around the world. ExxonMobil is involved in various exploration projects, including offshore drilling, onshore operations, and unconventional resources like shale gas. These activities require significant capital investments, advanced technologies, and expertise to identify viable reserves and extract them efficiently.

    Once ExxonMobil discovers an oil or gas field, it begins the production phase. This involves drilling wells, building infrastructure, and implementing extraction techniques to extract the hydrocarbons from the reservoir. The extracted oil and gas are then processed, refined, and sold to various customers, including wholesalers, retailers, and petrochemical companies.

    Refining and Marketing

    ExxonMobil also generates revenue through its refining and marketing operations. After the extraction process, crude oil is sent to refineries where it undergoes complex processes to convert it into various refined products, such as gasoline, diesel, jet fuel, and lubricants. These refined products are then distributed and sold to consumers through ExxonMobil's extensive network of branded service stations, as well as through third-party retailers.

    ExxonMobil's refining and marketing operations involve managing a vast supply chain, including transportation, storage, and distribution infrastructure. The company ensures the timely delivery of its products to meet market demand. Additionally, ExxonMobil has strategic partnerships with other energy companies and joint ventures to optimize its refining and marketing operations globally.


    In addition to its oil and gas operations, ExxonMobil generates revenue through its chemical business. The company is one of the largest petrochemical manufacturers globally and produces a wide range of products, including plastics, synthetic rubber, solvents, and specialty chemicals. ExxonMobil's chemical products are used in various industries, including automotive, packaging, construction, and healthcare.

    ExxonMobil's chemical business benefits from its integrated operations, leveraging feedstocks from its refining and natural gas processing activities. This integration allows the company to maximize efficiency and profitability throughout the value chain. Additionally, ExxonMobil invests in research and development to develop innovative and sustainable chemical solutions, catering to evolving market demands.

    Investments and Other Ventures

    ExxonMobil also generates income through its investments and other ventures. The company strategically invests in energy-related projects, both directly and indirectly, to diversify its revenue streams. These investments include partnerships and joint ventures in exploration and production, refining and marketing, and renewable energy projects.

    Furthermore, ExxonMobil actively explores opportunities in emerging energy sectors such as renewable energy, carbon capture and storage, and advanced technologies. By investing in these areas, the company aims to adapt to the changing global energy landscape and ensure long-term profitability.

    In summary, ExxonMobil generates revenue through its exploration and production activities, refining and marketing operations, chemical business, and investments in various energy-related projects. These diverse revenue streams allow the company to maintain its position as one of the world's largest and most profitable energy companies.

    ExxonMobil Business Model Canvas Explained

    What is the Business Model Canvas?

    The Business Model Canvas is a strategic management tool that helps organizations analyze and describe their business model in a concise and visual manner. It provides a framework for understanding the key components and relationships that drive a company's success.

    Introduction to ExxonMobil's Business Model

    ExxonMobil is one of the world's largest publicly traded international oil and gas companies. With a presence in almost every aspect of the energy industry, ExxonMobil's business model is complex and multifaceted. Let's explore the various elements of ExxonMobil's business model using the Business Model Canvas.

    Key Partnerships

    ExxonMobil's success heavily relies on strategic partnerships with various stakeholders. These partnerships include joint ventures with other oil and gas companies, government agencies, and suppliers. Collaborations allow ExxonMobil to access new resources, share risks, and leverage expertise in specific areas of the energy sector. For example, ExxonMobil has formed partnerships with leading technology companies to develop innovative solutions for energy exploration and production.

    Key Activities

    ExxonMobil engages in a range of key activities to support its operations. These activities include exploration, drilling, refining, and marketing of oil and gas products. The company invests heavily in research and development to advance technologies for efficient and environmentally responsible energy production. Additionally, ExxonMobil actively manages its supply chain, ensuring reliable access to raw materials and optimizing distribution networks to reach customers worldwide.

    Value Proposition

    ExxonMobil's value proposition is centered around providing reliable, affordable, and sustainable energy solutions to meet the world's growing demand. The company focuses on delivering high-quality products and services that meet customer needs while minimizing environmental impact. ExxonMobil's commitment to safety, operational excellence, and technological innovation sets it apart from competitors and strengthens its value proposition.

    Customer Segments

    ExxonMobil serves a diverse range of customer segments across different industries and geographies. Its customers include individual consumers, commercial businesses, governments, and other energy companies. The company tailors its products and services to meet the specific requirements of each segment, whether it's supplying gasoline to retail customers or providing lubricants for industrial machinery.


    ExxonMobil utilizes various distribution channels to reach its customers effectively. These channels include retail stations, direct sales to businesses, wholesale distributors, and online platforms. The company also leverages partnerships with other retailers and service providers to expand its market reach and enhance customer convenience.

    Cost Structure

    ExxonMobil's cost structure is influenced by the nature of its operations. The company incurs significant expenses related to exploration, drilling, refining, and marketing activities. It also invests heavily in research and development, regulatory compliance, and maintaining a global operational infrastructure. Additionally, fluctuations in oil prices and geopolitical factors can impact the company's cost structure.

    Revenue Streams

    The primary revenue stream for ExxonMobil comes from the sale of oil, natural gas, and petroleum products. The company generates revenue through various channels, including retail sales, wholesale transactions, and long-term supply agreements. Additionally, ExxonMobil earns income from licensing its technology and intellectual property to other companies in the energy sector.


    ExxonMobil's business model is built upon strategic partnerships, diverse customer segments, and a commitment to delivering value through reliable and sustainable energy solutions. The Business Model Canvas provides a comprehensive framework to understand the key components that drive ExxonMobil's success in the competitive global energy industry.

    Which companies are the competitors of ExxonMobil?

    Major Competitors

    ExxonMobil, one of the largest publicly traded oil and gas companies in the world, operates in a highly competitive industry. Here are some major competitors that ExxonMobil faces:

    1. Chevron Corporation: Chevron is a multinational energy corporation and one of the leading competitors of ExxonMobil. With a strong presence in exploration, production, refining, and marketing of oil and gas, Chevron competes with ExxonMobil in various segments of the industry. Both companies consistently vie for the top spot in terms of market capitalization and revenue.

    2. Royal Dutch Shell: Another major competitor of ExxonMobil is Royal Dutch Shell. With operations in over 70 countries, Shell is one of the largest integrated energy companies globally. Like ExxonMobil, Shell is involved in various aspects of the oil and gas industry, including exploration, production, refining, and marketing. The competition between ExxonMobil and Shell is intense, particularly in terms of market share and technological advancements.

    3. BP Plc: British Petroleum, commonly known as BP, is a global energy company that competes directly with ExxonMobil. BP operates in all segments of the oil and gas industry, including exploration, production, refining, and distribution. The two companies often compete for major projects and contracts worldwide, making BP a significant rival to ExxonMobil.

    Other Competitors

    In addition to the major competitors mentioned above, ExxonMobil faces competition from several other companies within the oil and gas industry. These include:

    1. TotalEnergies: TotalEnergies, formerly known as Total S.A., is a French multinational integrated oil and gas company. It is involved in various activities such as exploration, production, refining, distribution, and marketing. TotalEnergies competes with ExxonMobil on a global scale, particularly in terms of market share and technological innovation.

    2. ConocoPhillips: ConocoPhillips is an American multinational energy corporation engaged in exploration, production, refining, and marketing of oil and gas. It competes with ExxonMobil in many areas, including upstream operations, downstream activities, and global market presence.

    3. Eni: Eni is an Italian multinational oil and gas company that operates in more than 70 countries. It competes with ExxonMobil in various segments, including exploration, production, refining, and distribution. Eni's strong presence in Europe and Africa adds to its competitiveness against ExxonMobil.

    4. Equinor: Equinor, formerly known as Statoil, is a Norwegian multinational energy company primarily involved in oil and gas exploration and production. It competes with ExxonMobil, particularly in the North Sea region and other areas where both companies have significant operations.

    These are just a few examples of the many companies that compete with ExxonMobil in the oil and gas industry. The competition among these companies drives innovation, efficiency, and advancements in the industry as they strive to gain market share and meet the energy demands of the world.

    ExxonMobil SWOT Analysis


    ExxonMobil possesses several key strengths that have contributed to its success and dominance in the global energy industry:

    1. Diverse and Integrated Operations: One of ExxonMobil's greatest strengths is its diverse and integrated operations. The company operates in all sectors of the oil and gas industry, including exploration, production, refining, and distribution. This integration allows ExxonMobil to control the entire value chain and optimize its operations for maximum efficiency and profitability.

    2. Global Presence: With operations in over 70 countries, ExxonMobil has established a strong global presence. This global reach provides the company with access to diverse markets and resources, mitigating risks associated with geopolitical events and economic fluctuations in specific regions.

    3. Technological Expertise: ExxonMobil has a long history of investing in research and development, resulting in a strong technological expertise in the energy sector. This expertise enables the company to develop innovative solutions, improve operational efficiency, and extract oil and gas reserves from challenging environments.

    4. Financial Strength: ExxonMobil's financial strength is another significant advantage. The company consistently generates substantial revenue and profits, allowing it to invest in new projects, research, and development, and withstand economic downturns. Its strong balance sheet and creditworthiness also provide access to capital at favorable rates.


    Despite its many strengths, ExxonMobil also faces several weaknesses that could potentially hinder its performance and competitive position:

    1. Dependency on Fossil Fuels: ExxonMobil's core business revolves around fossil fuels, primarily oil and natural gas. As the world transitions towards cleaner and more sustainable energy sources, the company faces the risk of declining demand for its products. This heavy reliance on fossil fuels could pose a long-term challenge for ExxonMobil's growth and profitability.

    2. Environmental and Climate Change Concerns: ExxonMobil has faced criticism for its perceived lack of action on climate change and environmental issues. The company's association with carbon-intensive activities has drawn scrutiny from various stakeholders, including governments, environmental organizations, and socially responsible investors. This negative perception could impact ExxonMobil's reputation and create regulatory and social pressure.

    3. Volatile Oil Prices: ExxonMobil's financial performance is heavily influenced by oil prices, which are notoriously volatile. Fluctuations in oil prices can significantly impact the company's revenue and profitability, making it vulnerable to market uncertainties and geopolitical events.


    ExxonMobil has identified several opportunities that could potentially drive its future growth and success:

    1. Investment in Renewable Energy: As the world shifts towards cleaner energy sources, ExxonMobil has the opportunity to invest in renewable energy technologies and diversify its energy portfolio. By leveraging its financial resources and technological expertise, the company can position itself as a leader in the transition to a low-carbon economy.

    2. Expansion in Emerging Markets: Emerging economies, such as India and China, present significant growth opportunities for ExxonMobil. As these countries experience rapid industrialization and urbanization, the demand for energy is expected to rise. By expanding its presence in these markets, ExxonMobil can tap into new customer bases and increase its market share.

    3. Carbon Capture and Storage (CCS): ExxonMobil has the potential to capitalize on the growing interest in carbon capture and storage technologies. By developing and implementing effective CCS solutions, the company can reduce its environmental footprint and potentially generate additional revenue streams through carbon credits and offsets.


    ExxonMobil faces several threats that could impact its competitiveness and performance:

    1. Increased Competition: The global energy industry is highly competitive, with numerous companies vying for market share. ExxonMobil faces competition from both traditional oil and gas companies as well as emerging players in the renewable energy sector. This intense competition could erode ExxonMobil's market position and put pressure on its profitability.

    2. Regulatory and Political Risks: The energy industry is subject to extensive regulations and policies, which can vary significantly across countries. Changes in regulations, such as stricter emissions standards or carbon pricing mechanisms, could impact ExxonMobil's operations and profitability. Additionally, geopolitical tensions and political instability in key regions can create uncertainties and disrupt the company's global operations.

    3. Shift in Consumer Preferences: As consumers become more environmentally conscious, there is a growing preference for cleaner and more sustainable energy options. This shift in consumer preferences could result in reduced demand for ExxonMobil's products, particularly if the company fails to adapt and offer viable alternatives.

    In conclusion, while ExxonMobil possesses several strengths that have contributed to its success, it also faces weaknesses and threats that necessitate strategic adaptation. By capitalizing on opportunities such as renewable energy and emerging markets, while addressing weaknesses like fossil fuel dependency and environmental concerns, ExxonMobil can navigate the challenges and maintain its competitive position in the evolving energy landscape.

    Key Takeaways

    • ExxonMobil is owned by a combination of individual and institutional shareholders, with no single entity owning a controlling stake.

    • The mission statement of ExxonMobil is to provide energy that helps drive economic growth, improve living standards, and sustain the environment.

    • ExxonMobil primarily makes money through its exploration, production, refining, and marketing of oil and gas products.

    • The ExxonMobil Business Model Canvas highlights key aspects such as key activities, resources, partnerships, and customer segments that contribute to the company's success.

    • Major competitors of ExxonMobil include Chevron, BP, Royal Dutch Shell, and Total.

    • In a SWOT analysis, ExxonMobil's strengths include its global presence, extensive reserves, and strong financial position. Weaknesses may include its reliance on fossil fuels and vulnerability to environmental regulations. Opportunities lie in renewable energy investments and expanding markets, while threats include price volatility and competition from alternative energy sources.


    In conclusion, ExxonMobil is a multinational corporation that operates in the oil and gas industry. With regards to ownership, ExxonMobil is a publicly traded company, meaning it is owned by a wide range of shareholders.

    The mission statement of ExxonMobil is to provide energy in a responsible manner, aiming to meet the world's growing demand while simultaneously addressing environmental concerns.

    ExxonMobil generates its revenue primarily through the exploration, production, refining, and marketing of oil and gas products. It has a diverse range of operations across the globe, allowing it to capitalize on different markets and opportunities.

    The Business Model Canvas provides a comprehensive analysis of ExxonMobil's key activities, resources, and partnerships. It highlights the company's focus on operational efficiency, technological innovation, and strategic alliances to ensure its success in a competitive market.

    Speaking of competition, ExxonMobil faces rivals such as Chevron, BP, and Royal Dutch Shell, among others. These companies operate in the same industry and constantly vie for market share, making the sector highly competitive.

    Lastly, conducting a SWOT analysis of ExxonMobil reveals its strengths in terms of global presence and technological expertise. However, it also highlights weaknesses such as reliance on fossil fuels and potential threats arising from climate change concerns. The analysis also identifies opportunities in emerging markets and the potential for diversification into renewable energy sources.

    Overall, ExxonMobil is a major player in the oil and gas industry, with a mission to provide energy responsibly and sustainably. Constantly adapting to market dynamics and addressing environmental challenges will be key to its long-term success.


    What is a weakness of ExxonMobil?

    One weakness of ExxonMobil is its heavy reliance on fossil fuels. As a major player in the oil and gas industry, ExxonMobil's business model is centered around the extraction, refining, and distribution of petroleum products. This dependence on fossil fuels exposes the company to risks associated with climate change, increasing regulations on carbon emissions, and the shift towards renewable energy sources. As the world transitions towards a low-carbon future, ExxonMobil may face challenges in adapting its business model and diversifying its energy portfolio, potentially impacting its long-term sustainability and profitability.

    What is the 4 SWOT analysis?

    The 4 SWOT analysis refers to the four elements that are typically considered while conducting a SWOT analysis, which stands for Strengths, Weaknesses, Opportunities, and Threats. These four elements help to assess and evaluate the internal and external factors that can impact a business, organization, or individual.

    How can I find a SWOT analysis on a company?

    There are several ways to find a SWOT analysis on a company:

    1. Company website: Start by visiting the official website of the company you are interested in. Many companies provide a SWOT analysis in their annual reports, investor presentations, or corporate governance sections. Look for sections such as "About Us," "Investor Relations," or "Corporate Information."

    2. Stock market websites: Financial websites like Yahoo Finance, Bloomberg, or Reuters often provide comprehensive information on companies, including SWOT analysis. Search for the company's ticker symbol or name, and navigate to their profile or analysis section.

    3. Business news websites: Business news sites such as Forbes, Fortune, or CNBC occasionally publish SWOT analysis articles on various companies. Use their search function or browse their archives to find relevant articles.

    4. Business databases: Academic or business databases like ProQuest, EBSCOhost, or Business Source Complete may contain SWOT analysis reports. Access these databases through your university, library, or other subscription services you have access to.

    5. Consulting firms and market research companies: Some consulting firms or market research companies offer SWOT analysis reports on specific companies or industries. Examples include Deloitte, McKinsey, or IBISWorld. These reports are often available for purchase, but you may also find free summaries or excerpts.

    6. Online forums and communities: Participating in online forums or communities related to the industry or company you are interested in may provide insights from industry experts or individuals who have conducted SWOT analyses. Websites like Quora, Reddit, or LinkedIn groups can be helpful in finding relevant information.

    Remember, SWOT analysis is subjective and can vary depending on the source. It is essential to consider multiple perspectives and verify the credibility of the information before making any conclusions.

    What is strength weakness opportunity and threat analysis?

    Strengths, weaknesses, opportunities, and threats (SWOT) analysis is a strategic planning tool used to evaluate the internal and external factors that can impact the success of an organization, project, or individual. It involves identifying and assessing the following:

    1. Strengths: Internal factors that give the entity an advantage over others. These can include skills, resources, expertise, market position, brand reputation, patents, technology, etc.

    2. Weaknesses: Internal factors that put the entity at a disadvantage compared to others. These can include lack of resources, limited expertise, poor reputation, outdated technology, inefficient processes, etc.

    3. Opportunities: External factors or circumstances that can be advantageous for the entity. These can include emerging markets, new technologies, changing consumer trends, partnerships, collaborations, favorable regulations, etc.

    4. Threats: External factors or circumstances that can potentially harm the entity. These can include competition, economic downturns, changing consumer preferences, new regulations, disruptive technologies, geopolitical issues, etc.

    By conducting a SWOT analysis, organizations or individuals can gain a comprehensive understanding of their current situation and make informed decisions about how to maximize their strengths, minimize their weaknesses, take advantage of opportunities, and mitigate threats. This analysis serves as a foundation for strategic planning and can be used to develop action plans and set goals and objectives.

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