ntinue to market new products and extend into high growth areas. Today the oil industry has changed rapidly to only a few companies. To compete in the markets Exxon and Mobil decided to merge with each other and become the number one oil company in 1998. Both companies’ had massive supplies of oil interests around the world along with its hundreds of markets across the world. They became the number one low cost producers in the world today. ExxonMobil accomplished this by having the most suppliers, the ability to save cost by merging their similar departments together, faster delivery time, and the focus on providing the customer with quality, efficient, low price products. Overall ExxonMobil has shown to have powerful strategies and commands the lead in market share in the oil industry. With the new merger ExxonMobil revenue is over 35 billion dollars more then its closest competitor. ExxonMobil has a net income of almost 8 billion dollars in 1999. Though they have had a decrease from a year ago in income they have determined it has come from the rise in crude oil prices. This has little affect on the future, as more then likely crude oil will eventually fall. (ExxonMobil Official Website)III.ChevronThe Chevron Co. also is a company broken off of the Standard Oil Company. Chevron started out as the Standard Oil Company of California or Socal. Socal was the first oil refining company to have a gas station. They made it so customers no longer had to service their car with buckets of gasoline from a dry goods store. Socal developed large tanks of gas with a garden hose to fill your tank. They were also the first to use a rain-blocking canopy, which was the first example of customer amenity. (Chevron Official Website) With increased business, profits took off. More stations where built across the U.S. Today there stands over 200,000 stations in the U.S. alone. In 1926 Socal merged with Pacific Oil Company to increase market growth. W...
