Joint Ventures and Other Strategic Alliances
- Imperial Oil 70% Ownership in Imperial Oil
- Infineum is a joint venture between ExxonMobil and Royal Dutch Shell for manufacturing and marketing lubricant and fuel additives.
- Aera Energy LLC is an E&P joint venture with Shell Oil, operating in California.
- On August 30, 2011, ExxonMobil announced a $3.2 billion joint venture with Russian oil company Rosneft to develop two offshore oil fields in Russia, the East-Prinovozemelsky field in the Kara Sea and the Tuapse field in the Black Sea.
- ExxonMobil Yugen Kaisha holds a 50.02 percent stake in TonenGeneral Sekiyu K.K., but in January 2012 TonenGeneral Sekiyu KK agreed to acquire 99 percent of ExxonMobil Yugen Kaisha for 302 billion yen ($3.9 billion). It is the biggest divesture for Exxon since the 1999 deal with Mobil Corporation and Exxon stake in TonenGeneral decline to 22 percent from 50 percent, but the Japanese refiner will retain exclusive rights to use its brands.
Read more about this topic: Exxon Mobil
Famous quotes containing the words joint, ventures, strategic and/or alliances:
“There is no such thing as “the Queen’s English.” The property has gone into the hands of a joint stock company and we own the bulk of the shares!”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“Wine and cheese are ageless companions, like aspirin and aches, or June and moon, or good people and noble ventures ...”
—M.F.K. Fisher (1908–1992)
“If the technology cannot shoulder the entire burden of strategic change, it nevertheless can set into motion a series of dynamics that present an important challenge to imperative control and the industrial division of labor. The more blurred the distinction between what workers know and what managers know, the more fragile and pointless any traditional relationships of domination and subordination between them will become.”
—Shoshana Zuboff (b. 1951)
“’Tis our true policy to steer clear of permanent alliances with any portion of the foreign world.”
—George Washington (1732–1799)