market but they do have a competitive advantage in marine technology. They may in the future concentrate on that to gain advantages.SustainabilityThese companies will all sustain in the markets of the future. There will always be competition in the oil industry. ExxonMobil has shown that they will continue to be number one through their strategic plan of technology. They plan to beat the other companies to next newest thing. With the merger of Chevron and Texaco, Chevron has pushed itself to the elite. Now they must put together a strategic plan to overtake the giant ExxonMobil. BP is slowly organizing itself for a major push to be number one. The future of the oil industry is clearly wide open. With all the new mergers all one company has to do is develop their strategic plan and use competitive advantages over their competitors. ExxonMobil has shown to have down that are showing the results with the largest profits ever recorded this year with 17.72 billion. (ExxonMobil annual report, 1999)Looking aheadExxon has decided to look ahead into long-term benefits associated with improved capital efficiency. They will be the best business with the best opportunities around the globe. They believe they have the right explorations under way and the best portfolio in the industry. Exxon also has the most profitable petrochemical business in the world now with the merger. Chevron will now be looking for a new identity. They will have to make wise decisions in where they want to go. Do they want to compete head on with the giant ExxonMobil? Or are they content on being stuck in the middle. They have to develop a new strategic plan and differentiate themselves from other oil companies.BP has been able to gain solid ground on ExxonMobil in the last few years due to international markets. To stay competitive they must continue exploration around the world for new suppliers. However, their main concern should be identifying their U.S. strategy. They...
