Exxonmobil To Move Legal Headquarters To Texas Where A Recent Law Makes It Harder To Sue Company Officials

The Texas Tribune reports:

ExxonMobil is poised to move its legal headquarters from New Jersey to Texas in search of a more friendly business environment, the company announced Tuesday morning. The board of directors for the largest U.S.-based oil producing company, which already runs its operations from the Houston suburb of Spring, unanimously recommended to its shareholders that they vote to redomicile the company in Texas.

Shareholders will vote on the change at the company’s annual meeting on May 27. If successful, it will move Exxon’s legal home for the first time since it registered in New Jersey in 1882 as Standard Oil Company — the company later changed its name to Exxon, then merged with Mobil Oil Corp.

In 2023, the Legislature passed and Gov. Greg Abbott signed a law that created the Texas Business Court and the 15th Court of Appeals, specialized legal venues designed to handle business and commercial disputes. Those courts began operating in 2024. Last year, the Legislature also approved a law that made it more difficult to sue board members of companies incorporated in Texas.

Read the full article.

As was reported here at the time, critics said that the new court was explicitly created to benefit Elon Musk, Tesla, X, and SpaceX. And now it will protect ExxonMobil.

CEO Darren Woods last appeared here in January when Trump said he would bar ExxonMobil from new projects in Venezuela because Woods had “gotten cute” with him at a White House meeting.

ExxonMobil is poised to move its legal headquarters from New Jersey to Texas in search of a more friendly business environment, the company announced Tuesday morning. https://www.kwtx.com/2026/03/11/exxonmobil-set-to-move-its-legal-home-texas-citing-business-friendly-environment/

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— KWTX News 10 (@kwtx.com) March 10, 2026 at 10:25 PM

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