oil.ExxonMobil has seen the rise in competition in the last years and has developed a strategy to continue success. They include:1.)Maximize profitability of existing oil and gas productions2.)Identify and pursue all attractive exploration opportunities3.)Invest in projects that deliver superior returns4.)Capitalize on growing natural gas markets.(ExxonMobil annual report, 1999)Chevron has been focusing on their recent merger with Texaco, which has still not been approved. Once the companies do merge they will establish a strategic plan. They continue to work through this business deal ready to challenge its competitors.BP has recently used a strong trading environment to gain a market advantage. They also have concentrated on their natural gas and chemical industries. To gain market share in the U.S though they are going to have to start investing more into the recently purchased Amoco. They have still not realized the full potential of the U.S market. BP clearly needs direction to over take ExxonMobil.VIII.Future AnalysisGrowthThere is little growth in the oil industry today. The oil industry has come down to four major companies competing against each other. Foreign markets determine today’s growths in the industry. Not only in finding new customers but also finding new suppliers. With oil production in the Middle East controlled by OPEC the oil industry is suffering from high oil prices, which is driving the economy down. The companies need to start to find a greater production out of none OPEC countries. (The Street.com)ExxonMobil has started using it strategic plan to go out and invest, secure, and explore new oil deposits. They have more interest today towards the natural gas solutions. They are going to start competing highly against BP. If BP is as easy as a push over in the gasoline industry ExxonMobil will have little trouble to become number one in natural gas. Chevron has made little effort to get into the natural gas...
