After the forced breakup of Standard Oil, an American oil behemoth, Exxon became one of the most successful divisions to be spun off the company.

Source: https://seekingalpha.com/article/4628198-exxonmobil-strong-sell-ahead-of-last-oil-age?source=feed_all_articles

It was Japan’s failure to accede to US demands to withdraw from China that led the US to cut Japan off from international financial as well as the oil production of Standard Oil of California, at that time the world’s biggest producer.

Source: https://www.spectator.com.au/2023/09/how-an-american-racing-driver-and-war-in-mongolia-helped-to-defeat-hitler/

Standard Oil New Jersey (Exxon) due (his reasoning) to undervalued valuations of stock.

Source: https://seekingalpha.com/article/4612199-charlie-munger-skeptical-of-ai-why-high-yield-may-pummel-tech?source=feed_all_articles

Standard Oil of California eventually became Chevron.

Source: https://247wallst.com/investing/2023/12/19/shell-vs-chevron-how-they-compare-company-history-more/