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Chronology Of World Oil Market Events (1970–2005)
Basic overview The 1970s ''See: 1970–79 world oil market chronology'' 1970 *January 1: US Federal oil depletion allowance reduced from 27.5 to 22.0 percent. *May 3: Trans-Arabian Pipeline delivery from Saudi Arabia to the Mediterranean interrupted in Syria, driving oil tanker rates to all time highs from June to December. *September 4 – October 9 Libya raises posted prices and increases tax rate from 50 percent to 55 percent. Iran and Kuwait follow in November. *December 9: OPEC meeting in Caracas establishes 55 percent as minimum tax rate and demands that posted prices be changed to reflect changes in foreign exchange rates. 1971 *January 12: Negotiations over posted prices begin in Tehran between 6 OPEC Persian Gulf states and 22 oil companies. *February 3: OPEC mandates "total embargo" against any company that rejects 55 percent tax rate. *February 14: Tehran agreement signed. Companies accept 55 percent tax rate, immediate increase in posted prices, and further succe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1970–79 World Oil Market Chronology
Year 197 (Roman numerals, CXCVII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Magius and Rufinus (or, less frequently, year 950 ''Ab urbe condita''). The denomination 197 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * February 19 – Battle of Lugdunum: Emperor Septimius Severus defeats the self-proclaimed emperor Clodius Albinus at Lugdunum (modern Lyon). Albinus commits suicide; Roman legionary, legionaries sack the town. * Septimius Severus returns to Ancient Rome, Rome and has about 30 of Albinus's supporters in the Roman Senate, Senate executed. After his victory he declares himself the adopted son of the late Marcus Aurelius. * Septimius Severus forms new Roman navy, naval units, manning all the triremes in Italy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Venezuelan Oil Industry
Venezuela has the world's largest proven oil reserves at an estimated 304 billion barrels (18% of global reserves) as of 2020. The country was one of the world's largest exporters of oil, but the oil industry saw a significant decline since its peak in 2012. In 2008, crude oil production in Venezuela was the tenth-highest in the world at and the country was also the eighth-largest net oil exporter in the world. Venezuela is a founding member of the Organization of the Petroleum Exporting Countries (OPEC). Pre-discovery Indigenous usage The Indigenous peoples in Venezuela, like many ancient societies already utilized crude oils and asphalts from petroleum seeps, which ooze through the ground to the surface, in the years before the Spanish conquistadors. The thick black liquid, known to the locals as ''mene'', was primarily used for medical purposes, as an illumination source, and for the caulking of canoes. Spanish acquisition Upon arrival in the early 16th century, the Spa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anglo-Iranian Oil Company
The Anglo-Persian Oil Company (APOC) was a British company founded in 1909 following the discovery of a large oil field in Masjed Soleiman, Persia (Iran). The British government purchased 51% of the company in 1914, gaining a controlling number of shares, effectively nationalizing the company. It was the first company to extract petroleum from Iran. In 1935 APOC was renamed the "Anglo-Iranian Oil Company" (AIOC) when Reza Shah Pahlavi formally asked foreign countries to refer to Persia by its endonym ''Iran''. In 1954, it was renamed again to the "British Petroleum Company", one of the antecedents of the modern BP public limited company. The government of Mohammad Mosaddegh nationalized the company's local infrastructure assets and gave the new company the name National Iranian Oil Company. The D'Arcy oil concession Exploration and discovery In 1901, William Knox D'Arcy, a millionaire London socialite, negotiated an oil concession with Mozaffar al-Din Shah Qajar of Persi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohammad Reza Pahlavi
, title = Shahanshah Aryamehr Bozorg Arteshtaran , image = File:Shah_fullsize.jpg , caption = Shah in 1973 , succession = Shah of Iran , reign = 16 September 1941 – 11 February 1979 , coronation = 26 October 1967 , predecessor = Reza Shah , successor = ''Monarchy abolished''Ruhollah Khomeini as Supreme Leader , birth_date = , birth_place = Tehran, Sublime State of Persia , death_date = , death_place = Cairo, Egypt , burial_place = 29 July 1980Al-Rifa'i Mosque, Cairo, Egypt , spouse = , issue = , regnal name = Mohammad Reza Shah fa, محمدرضا شاه , native_lang1 = Alma mater , native_lang1_name1 = , house = Pahlavi , father = Reza Shah , mother = Tadj ol-Molouk , religion = Twelver Shi’ism , signature = , module = Mohammad Reza Pahlavi ( fa, محمدرضا پهلوی, ; 26 October 1919 – 27 July 1980), also known as Mohammad Reza Shah (), was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exxon
ExxonMobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999, by the merger of Exxon and Mobil, both of which are used as retail brands, alongside Esso, for fueling stations and downstream products today. The company is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is incorporated in New Jersey. ExxonMobil's earliest corporate ancestor was Vacuum Oil Company, though Standard Oil is its largest ancestor prior to its breakup. The entity today known as ExxonMobil grew out of the Standard Oil Company of New Jersey (or Jersey Standard for short), the corporate entity which effectively controlled all of Standard Oil prior to its breakup. Jersey Standard grew a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobil
Mobil is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil. The brand was formerly owned and operated by an oil and gas corporation of the same name, which itself merged with Exxon to form ExxonMobil in 1999. A direct descendant of Standard Oil, Mobil was originally known as the Standard Oil Company of New York (shortened to Socony) after Standard Oil was Standard Oil Co. of New Jersey v. United States, split into 34 different entities in a 1911 Supreme Court decision. Socony merged with Vacuum Oil Company, from which the Mobil name first originated, in 1931 and subsequently renamed itself to Socony-Vacuum Oil Company. Over time, Mobil became the company's primary identity, which incited another renaming in 1963, this time to Mobil Corporation. Mobil credits itself with being the first company to introduce Pay at the pump, paying at the pump at its gas stations, the first company to produce jet aviation fuel, as well as the first company to intr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compagnie Francaise Des Petroles
TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining, petroleum product marketing, and international crude oil and product trading. TotalEnergies is also a large-scale chemicals manufacturer. TotalEnergies has its head office in the Tour Total in La Défense district in Courbevoie, west of Paris. The company is a component of the Euro Stoxx 50 stock market index. In the 2020 Forbes Global 2000, it was ranked as the 29th-largest public company in the world, and additionally ranked as the 25th largest company of any type on the Fortune Global 500. History 1924–1985: Compagnie française des pétroles The company was founded after World War I, when petrol was seen as vital in case of a new war with Germany. The then French President R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
