Sunday, February 15, 2009

History of Oil and Gas Industry

Standard Oil is big boy of oil and gas industry in 18th century who dominance of oil production, refinement and distribution.
In 1911, Standard Oil was Broken up into seven companies:
  1. Standard Oil of New Jersey (Esso), which merged with Mobil to form ExxonMobil.
  2. Royal Dutch Shell (Dutch 60% / British 40%)
  3. Anglo-Persian Oil Company (APOC) (British). This later became Anglo-Iranian Oil Company (AIOC), then British Petroleum, and then BP Amoco following a merger with Amoco (which in turn was formerly Standard Oil of Indiana). It is now known solely by the initials BP.
  4. Standard Oil Co. of New York ("Socony"). This later became Mobil, which merged with Exxon to form ExxonMobil.
  5. Standard Oil of California ("Socal"). This became Chevron, then, upon merging with Texaco, ChevronTexaco. It has since dropped the 'Texaco' suffix, returning to Chevron.
  6. Gulf Oil. In 1984, most of Gulf became part of Chevron, with smaller parts becoming part of BP and Cumberland Farms, in what was, at that time, the largest merger in world history. A network of stations in the northeastern United States still bears this name.
  7. Texaco. Merged with Chevron in 2001. The merged company was known for a time as ChevronTexaco, but in 2005, changed its name back to Chevron. Texaco remains a Chevron brand name.
This seven companies became know as Seven Sisters.
As of 2005, the surviving companies are ExxonMobil, Chevron, Royal Dutch Shell, and BP.
There is now global market in oil and gas involving more companies, Marathon, ConocoPhillips, Hess, Agip, Talisman, and Total.

=== Update ===
Infographic
Source: http://www.visualcapitalist.com/chart-evolution-standard-oil/


=== Update ===
History of Standard Oil

1900, Standard Oil controlled 90% of oil industry in United States. He controlled the oil production, sales, oil price. A big giant company monopoly the market. How it fell. A woman journalist, named Ida Tarbell, she brake the giant by her pen.

Ida Tarbell, her father was an small oil producer whose business had failed due to Rockefeller's business dealings. She muckraked and published in McClure's Magazine. (Full story)

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