SWOT Analysis of ExxonMobil

ExxonMobil is an oil and gas American multinational company. Lee Raymond and Lucio Noto founded the oil and gas company in 1882. Today, we’ll discuss the SWOT analysis of ExxonMobil; it outlines strengths and weaknesses; opportunities and threats that the company has to face; as a business strategy analysis example company.

Products and services portfolio of ExxonMobil

• Power generation
• Petrochemicals
• Natural gas
• Oil products
• Crude oil

Brands of ExxonMobil

• Speedpass
• On the Run
• Mobil
• Esso
• Coolanol
• XTO Energy
• SeaRiver Maritime
• Imperial Oil

Statistical facts and figures of ExxonMobil

• Annual revenue: 344.6 billion USD (2023)
• Net income: 36.01billion USD (2023)
• Employees: 61500
• Asset net worth: 376.3 billion USD (2023)

Competitors of ExxonMobil

• BP
• Valero Energy Corp
• Chevron
• ConocoPhillips
• Royal Dutch Shell
• Total Energies
• Saudi Aramco

The SWOT analysis of ExxonMobil would analyze the internal strengths and weaknesses of the company; and external opportunities and threats that the brand has to face. Here’s ExxonMobil SWOT analysis as a business strategy analysis example company as follows;

Strengths of ExxonMobil

Some of the main internal strengths in the ExxonMobil SWOT analysis example company as business strategy analysis are as follows;

Large Network

ExxonMobil has established a very large market network. According to an estimate, the oil and gas company is operating its business in roundabout 200 countries across the globe. The brand has 37 oil refineries in over 21 countries across the globe. The large and global market network helps the company to increase its influence and sales.

Diversified Portfolio

ExxonMobil has developed a large and diversified portfolio. It comprises a wide range of products and services like natural gas, crude oil, oil products, and others. The large portfolio helps the brand to target various segments of the customer market with diverse needs and requirements.  

Natural Reserves

ExxonMobil has access to the large and proven natural oil and gas reserves. It helps the company to ensure the smooth availability of hydrocarbons for a very long time and ensures the brand’s competitive strength in the oil and gas industry.

R&D

ExxonMobil invests a significant amount of capital resources in research and technological development. It allows the oil and gas brand to employ the latest tools and equipment for the exploration, extraction, drilling, and refining of oil and gas. However, the latest and most advanced tools and equipment help the company to achieve efficiency and reduce the waste of time and resources.

Recognized Brand

ExxonMobil is a well-recognized brand in the oil and gas industry. The company has been operating its business in the industry for the past 141 years. Long legacy and experience brand status helped the company to earn the trust and confidence of the customer market.

Solid Finances

ExxonMobil has a strong financial position comprising of annual revenue of over 345 billion USD in 2023. The solid financial position helps the company to strengthen its brand position and take on various new projects.

Weaknesses of ExxonMobil

Some of the main internal weaknesses in the ExxonMobil SWOT analysis example company as business strategy analysis are as follows;

Over-Reliance on Oil & Gas

There is no doubt ExxonMobil has a large portfolio, but the company is heavily relying on oil and gas as its main sources of revenue and sales. On the other hand, the consumer market is shifting away from carbon emission energy; Heavy reliance on a few products is not a good business and marketing strategy.

Controversies

ExxonMobil has been engaging in various types of controversies ranging from human rights violations, poor track record of environmental pollution, and oil spills into the sea. Keeping in mind the environmental sustainability trends, such controversies are negatively impacting the brand reputation and image of the company.

Opportunities for ExxonMobil

Some of the main available opportunities in the ExxonMobil SWOT analysis example company as business strategy analysis are as follows;

Market Expansion

ExxonMobil should expand its oil and gas business into new markets regions and countries across the globe. The global market holds great growth potential for the energy business; market expansion would help the company increase its sales, network, and profitability.

Renewable Energy

ExxonMobil should consider investing in the development of renewable sources of energy. It allows the company to shift away from environmentally unsustainable energy to clean energy. As a result, it helps the company to restore its brand reputation in the market with the clean initiative.

Strategic Alliance

ExxonMobil should develop strategic alliances and partnerships with other energy companies. The joint venture and collaboration of resources help the company to launch new products and enter new markets.

Threats to ExxonMobil

Some of the main potential threats in the ExxonMobil SWOT analysis example company as business strategy analysis are as follows;

Competition

ExxonMobil is facing tough competition from other oil and gas brands like BP, Shell, ConocoPhillips, and Chevron. They all have established a strong market share and a very loyal database of customers in the energy industry. Their market presence is negatively impacting the sales and revenue of the brand.

Regulations

ExxonMobil should comply with the environmental regulations and industry standards. The government regulations are very strict for the oil and gas and energy companies.

Conclusion: ExxonMobil SWOT Analysis Example Company |SWOT Analysis of ExxonMobil |Business Strategy Analysis

After an in-depth study of the swot analysis of ExxonMobil; we have realized that ExxonMobil is the world’s leading energy and oil and gas brand. If you are learning about ExxonMobil SWOT analysis example company; then you should keep in mind the abovementioned internal strengths and weaknesses; external opportunities and threats as brand strategy analysis.

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