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Chronology Of World Oil Market Events
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 furth ... [...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] |
Royal Dutch Shell
Shell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. It is one of the oil and gas "supermajors" and by revenue and profits is consistently one of the largest companies in the world. Measured by both its own emissions, and the emissions of all the fossil fuels it sells, Shell was the ninth-largest corporate producer of greenhouse gas emissions in the period 1988–2015. Shell was formed in 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom. The combined company rapidly became the leading competitor of the American Standard Oil and by 1920 Shell was the largest producer of oil in the world. Shell first entered the chemicals industry in 1929. Shell was one of the " Seven Sisters" whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iraq Petroleum Company
The Iraq Petroleum Company (IPC), formerly known as the Turkish Petroleum Company (TPC), is an oil company that had a virtual monopoly on all oil exploration and production in Iraq between 1925 and 1961. It is jointly owned by some of the world's largest oil companies and headquartered in London, England, although today it is only a paper entity with historical rights and plays no part in the modern development of Middle Eastern oil. In June 1972, the Ba'athist government in Iraq nationalized the IPC and its operations were taken over by the Iraq National Oil Company. The company "Iraq Petroleum Company" still remains extant, however, only on paper and one associated company – the Abu Dhabi Petroleum Company (ADPC, formerly Petroleum Development (Trucial Coast) Ltd) – also continues with its original shareholding intact. The related Iraq Petroleum Group was an association of companies that played a major role in the discovery and development of oil resources in are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Western World
The Western world, also known as the West, primarily refers to the various nations and state (polity), states in the regions of Europe, North America, and Oceania.Western Civilization Our Tradition; James Kurth; accessed 30 August 2011 The Western world is also known as the Occident (from the Latin word ''occidēns'' "setting down, sunset, west") in contrast to the Eastern world known as the Orient (from the Latin word ''oriēns'' "origin, sunrise, east"). Following the Discovery of America in 1492, the West came to be known as the "world of business" and trade; and might also mean the Northern half of the North–South divide, the countries of the ''Global North'' (often equated with capitalist Developed country, developed countries). [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qatar
Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it shares its sole land border with Saudi Arabia to the south, with the rest of its territory surrounded by the Persian Gulf. The Gulf of Bahrain, an inlet of the Persian Gulf, separates Qatar from nearby Bahrain. The capital is Doha, home to over 80% of the country's inhabitants, and the land area is mostly made up of flat, low-lying desert. Qatar has been ruled as a hereditary monarchy by the House of Thani since Mohammed bin Thani signed a treaty with the British in 1868 that recognised its separate status. Following Ottoman rule, Qatar became a British protectorate in 1916, and gained independence in 1971. The current emir is Tamim bin Hamad Al Thani, who holds nearly all executive and legislative authority under the Constitution of Qat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abu Dhabi
Abu Dhabi (, ; ar, أَبُو ظَبْيٍ ' ) is the capital and second-most populous city (after Dubai) of the United Arab Emirates. It is also the capital of the Emirate of Abu Dhabi and the centre of the Abu Dhabi Metropolitan Area. The city of Abu Dhabi is located on an island in the Persian Gulf, off the Central West Coast. Most of the city and the Emirate reside on the mainland connected to the rest of the country. , Abu Dhabi's urban area had an estimated population of 1.5 million, out of 2.9 million in the emirate of Abu Dhabi, as of 2016. The Abu Dhabi Investment Authority is headquartered in the city, and was the world's 5th largest sovereign wealth fund in 2021. Abu Dhabi itself has over a trillion US dollars worth of assets under management in a combination of various sovereign wealth funds headquartered there. Abu Dhabi houses local and federal government offices and is the home of the United Arab Emirates Government and the Supreme Petroleum C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
