September 13, 2010
Exxon Mobil is reviewing its real estate holdings, which could include downsizing or closing its large campus in the Washington area.
The 118-acre Fairfax campus employs about 2,600 people near the Capital Beltway and Route 50. The site was owned by Mobil when it was acquired by Exxon in 1999. Now it houses Exxon Mobil's management for oil refinery, government relations and other operations.
But the Irving, Texas-based company says it's reviewing its real estate portfolio. It could keep its Fairfax operation or scale back.
Energy analyst Fadel Gheit with Oppenheimer says it makes more sense for Exxon Mobil employees to be in the Houston area.
Jim Dinegar of the Greater Washington Board of Trade calls Exxon a good corporate citizen that donates millions to local charities.