ExxonMobil Net Worth 2023 (Latest Study!)

ExxonMobil Corporation, commonly known as Exxon, is an American multinational oil and gas corporation that holds the distinction of being the largest direct descendant of John D. Rockefeller’s Standard Oil. The company was formed in 1999 through the merger of Exxon and Mobil and operates as a vertically integrated entity spanning the entire oil and gas industry. Moreover, ExxonMobil boasts a chemicals division that manufactures plastic, synthetic rubber, and various chemical products. While the company is headquartered in the Houston suburb of Spring, it is officially incorporated in New Jersey.

ExxonMobil stands as one of the world’s most prominent and influential corporations. Over the years, its ranking in terms of revenue has fluctuated between the first and tenth largest publicly traded company. Moreover, it commands one of the largest market capitalizations among all companies globally. In the latest Fortune 500 rankings released in 2022, ExxonMobil secured the sixth position. On the Fortune Global 500 list, it held the twelfth spot.

ExxonMobil occupies several significant positions in the oil industry. It is the largest investor-owned oil company worldwide, the largest oil company with headquarters in the Western world, and the largest among the Big Oil companies in terms of both production and market value.

As of May 26, 2023, ExxonMobil’s net worth stands at an impressive $424.39 billion, solidifying its financial strength and market presence.

Here’s the breakdown of ExxonMobil net worth (for the quarter ended March 31, 2023):


Exxon Mobil Corp (XOM)

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Record Earnings and Structural Improvements

ExxonMobil Corporation has reported impressive financial results for the first quarter of 2023. The company achieved record earnings of $11.4 billion, demonstrating its commitment to structural improvements through the growth of advantaged assets, mix improvements, and cost and execution efficiencies.

Despite facing unfavorable identified items related to additional European taxes on the energy sector, ExxonMobil’s diligent execution of strategic priorities led to a successful first quarter following a record year.

Production Growth and Refinery Expansion

ExxonMobil witnessed a significant increase in oil and gas net production in Q1 2023, excluding divestments, entitlements, and Sakhalin-1 expropriation. The production grew by nearly 300,000 oil-equivalent barrels per day compared to the same quarter in 2022. This expansion in production highlights ExxonMobil’s commitment to meeting global demand by leveraging its advantaged assets.

Furthermore, the company successfully started up the Beaumont Refinery expansion, reaching its full capacity of 250,000 barrels of production per day. This expansion positions ExxonMobil to effectively contribute to meeting global demand for refined petroleum products.

Strategic Investments and Low Carbon Solutions Expansion

ExxonMobil made significant strategic moves in Q1 2023. The company announced the final investment decision for the Uaru offshore development and two new discoveries in Guyana, emphasizing its focus on offshore exploration and production growth.

Additionally, ExxonMobil expanded its Low Carbon Solutions business by executing a new long-term customer contract for carbon capture, transportation, and storage. This expansion reflects the company’s commitment to providing industrial customers with large-scale emission reduction solutions, thereby contributing to sustainable practices.

Financial Highlights and Shareholder Distributions

ExxonMobil’s financial performance in Q1 2023 showcased both achievements and challenges. Excluding the identified item associated with additional European taxes on the energy sector, the company reported earnings of $11.6 billion.

This represented a decrease from the previous quarter, primarily due to lower liquids and natural gas realizations, absence of favorable mark-to-market impacts on unsettled derivatives, fewer days in the quarter, and higher scheduled maintenance.

However, higher volumes, mix improvements, strong operating execution, and disciplined cost management partially offset these factors.

Furthermore, ExxonMobil distributed $8.1 billion to shareholders in Q1 2023, including $4.3 billion in share repurchases. This underlines the company’s commitment to delivering value to its shareholders and aligns with its plan to repurchase up to $17.5 billion during the year. Besides, ExxonMobil declared a second-quarter dividend of $0.91 per share.


In conclusion, ExxonMobil’s Q1 2023 financial performance demonstrates its focus on growth, cost management, emission reduction, and creating value for shareholders. The company’s strategic investments, expansion of low carbon solutions, and successful refinery expansion position it well for future opportunities and challenges in the energy sector.

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