Exxon Mobil

Energy
4900
NYSE:XOM
USA

"ExxonMobil did business with Iran, Syria and Sudan through a European subsidiary while President-elect Donald Trump’s nominee for secretary of State was a top executive of the oil giant and those countries were under U.S. sanctions as state sponsors of terrorism, Securities and Exchange Commission filings show. That business connection is likely to surface Wednesday at a confirmation hearing for ExxonMobil CEO Rex Tillerson before the Senate Foreign Relations Committee. The sales were conducted in 2003, 2004 and 2005 by Infineum, in which ExxonMobil owned a 50% share, according to SEC documents unearthed by American Bridge, a Democratic research group. ExxonMobil told USA TODAY the transactions were legal because Infineum, a joint venture with Shell Corporation, was based in Europe and the transactions did not involve any U.S. employees. The filings, from 2006, show that the company had $53.2 million in sales to Iran, $600,000 in sales to Sudan and $1.1 million in sales to Syria during those three years." (USA Today, "ExxonMobil and Iran did business under secretary of State nominee Tillerson," 1/9/2017).

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"Infineum U.K., a joint venture in which ExxonMobil has a 50 percent indirect ownership, sold gasoline additives to Iran, but stopped in 2006, according to Cynthia Bergman White, company spokeswoman. Exxon is a big supplier of fuel to the Department of Defense." From 2000-2009, the company has been the recipient of $4.9 billion in US federal funds.  They have withdrawn their investments from Iran. (The New York Times, "Profiting from Iran, and the US," 3/6/2010)

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"An AP review of corporate SEC filings found dozens of companies that have done business in Iran in recent years or said their products or services may have made it there through other channels. Some are household names: PepsiCo, Tyson Foods, Canon, BP Amoco, Exxon Mobil, GE Healthcare, the Wells Fargo financial services company, Visa, MasterCard and the Cadbury Schweppes candy and beverage maker." (Associated Press, "From bull semen to bras, Iran still buys American," 7/9/08)

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