The ratings on Exxon Mobil Corp. reflect the company's outstanding competitive position in all facets of the oil and gas industry and conservative financial policies. Irving, Texas-based Exxon Mobil conducts business in more than 200 countries and territories in the exploration and production (E&P), refining, marketing, chemicals, and power businesses, providing the company with substantial business and geographic diversification, which has substantial, positive benefits for the company's business risks and cash flow volatility. A disciplined management team and ingrained corporate culture have helped the company to achieve a return on capital employed (ROCE) that ranks consistently among the best of public companies and ensures consistent operational and financial philosophies. Exxon Mobil's proved reserves total 21.9 billion barrels of oil equivalent
