Exxon Mobil Corporation
XOM
Energy
4
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
ExxonMobil Corp — integrated oil major with global refining, chemicals (ExxonMobil Chemical), and retail fuel brands (Exxon, Mobil, Esso). Downstream represents a large share of revenue.
ExxonMobil Corp — integrated oil major with natural gas pipeline and LNG infrastructure. XTO Energy (subsidiary) operates significant midstream assets.
ExxonMobil has supplied fuel to the Israeli military under U.S. Department of Defense contracts since at least 2003, according to the AFSC Investigate database. The contracts, executed through the Foreign Military Sales program, have included JP-8 aviation fuel designated for Israel's AH-64 Apache attack helicopters and F-15 and F-16 fighter-bombers, as well as EN590 diesel fuel for Merkava tanks, armored vehicles, and military transport. Additional aviation fuel contracts were awarded in 2005, 2010, and 2011. Human Rights Watch, Amnesty International, and United Nations investigators have documented the use of Apache helicopters and F-15/F-16 aircraft in operations that resulted in civilian casualties and alleged war crimes in Lebanon, the West Bank, and Gaza.
The fuel supply relationship is not incidental. It is a recurring, contract-based commercial relationship through which ExxonMobil provides material support to military operations conducted in and over occupied Palestinian territories. AFSC lists ExxonMobil among companies profiting from the occupation on the basis of these defense contracts.
Exxon Mobil Corporation is an integrated oil and gas major whose primary business activity is the exploration, extraction, and production of fossil fuels. The company operates one of the world's largest upstream portfolios, with significant conventional and unconventional oil and gas assets. In December 2025, ExxonMobil announced an acceleration of its growth plans in the Permian Basin, aiming to increase production to 2.3 million barrels of oil equivalent per day by 2030. In January 2025, the company announced a major new natural gas discovery in the Mediterranean Sea off Egypt's coastline, underscoring its continued focus on expanding fossil fuel reserves.
The company's public climate positioning, as analyzed in peer-reviewed literature, has historically emphasized energy demand while framing climate policy around emissions from end-use consumers rather than the upstream supply of fossil fuels. ExxonMobil's Global Outlook to 2050 presents the company's internal projections, which anticipate continued significant reliance on oil and gas through mid-century. There is no company-wide commitment to align capital expenditures with the International Energy Agency's Net Zero Emissions scenario, which requires no new investment in fossil fuel supply.
Research Sources
2 organizations
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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