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These statistics highlight the Exxon Mobil’s Revenue by Segment, split across Chemical, Downstream and Upstream segments.
Exxon Mobil is engaged in the production and transportation of crude oil, natural gas, petrochemical, and petroleum products, and its reportable segments are:
From a revenue perspective, Exxon Mobil generates most of its revenue from its downstream segment. The following table sheds more light on each of the segments and their contribution to the company’s overall top line.
|Segment||Revenue in Q1 of 2020||Revenue in Q2 of 2020||Revenue in Q3 of 2020||Revenue Share in Q3|
|Corporate and financing||$0.006||$0.009||$0.013||0.02%|
( Figures in billion, except percentages)
These segments are classified on the nature of their operations.
Chemical segment – Exxon Mobil is one of the world’s largest petrochemical producers with 25 million tonnes of sales per annum. The company generated 12.50% of its entire revenue in Q3 of 2020 which is amounting to $5.85 billion. This segment contains the manufacture and selling of petrochemical products. This is the only segment that made a profit in 2020.
Corporate and financing segment – This is a non-core business segment. Essentially, Exxon Mobile earns interest on cash deposits and marketable securities in this segment. Revenue generated from this segment is $13 million which is 0.02% of total revenue in Q3 of 2020.
Downstream segment – The downstream segment involves refining petroleum crude oil and processing and purifying raw natural gas. This segment also includes the marketing and distribution of products derived from crude oil and natural gas. Exxon Mobil Corporation is one of the largest manufacturers and marketers of petroleum products like fuel and lubricants and sells about 4 million barrels per day. The downstream segment generated $36.13 billion which is approximately 80% of Exxon Mobil’s total revenue in Q3 of 2020. Some of the company’s products are marketed internationally under well-known brands such as Exxon, Mobil, and Esso. Mobil 1 synthetic motor oil is the best selling in the United States.
Upstream segment -The upstream segment includes searching for potential underground and underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating wells that bring crude oil and raw natural gas to the surface. Exxon Mobil’s upstream business is organized into five businesses conventional, unconventional, deepwater, liquefied natural gas(CNG), and heavy oil. Sales and other operating revenue of this segment contributing only 7.56% of the total revenue in Q3 of 2020 amounting to $3.44 billion. There is a recovery of production due to improved market conditions in the third quarter of 2020.
Corporate and financing is the only segment that shows consistency in increasing the revenue share of the company. The rest of the segments are gradually increasing in every quarter before the covid-19 pandemic. The same thing happens with the company’s total revenue, but after the covid-19 pandemic, the revenue is declining in every quarter till date.
Interestingly, Exxon Mobil Corporation has a stake in 22 upstream and 4 downstream companies. It’s one of the world’s largest oil companies and it produced 3% of the world’s total oil and 2% of the world’s energy in 2019.
Long-Term Business Plan
There is an impact of the covid-19 pandemic on economic growth, energy demand, and energy supply. The company is planning long-term business after the recovery pathways. The pathway expects that the energy demand will grow in the future.
The company expects that the worldwide economic growth is about 2.5% per year and by 2040 the world population is projected around 9.1 billion people. As the economy and population grow, the living standard will also grow. Therefore energy demand is also about to rise. They expect that the global energy demand will grow by 10% from 2018 to 2040. So their timely investment will provide a reliable and affordable energy supply
Exxon Mobil Corporation is a collaboration between two standard oil companies. One is Exxon of New Jersey which was founded in 1973 and another is Mobil of New York which was founded in 1911. The merger happened on the 30th of November 1999. The headquarters is in Irving, Texas. In 2018 Exxon Mobil is the second-ranked company in the fortune 500 for total revenue. The corporation is committed to being the world’s premier petroleum and chemical manufacturing company.
To strengthening the portfolio Exxon Mobil Corporation announced that they have funded the third major project in the Stabroek block will have the capacity to produce up to 2,20,000 barrels per day. This project will start by 2024.
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* Billed annually, local taxes extra.
* Local taxes extra.