Oil Insurance Limited (OIL) is a
Bermuda
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, song = " Hail to Bermuda"
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–based
mutual insurance company
A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or re ...
. It was founded in 1972 by 16 oil companies.
Founding shareholders
The founding shareholders were:
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Amerada Hess Corporation
Hess Corporation (formerly Amerada Hess Corporation) is an American global independent energy company involved in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petrol ...
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Ashland Oil & Refining
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Atlantic Richfield Company
ARCO ( ) is a brand of gasoline stations currently owned by Marathon Petroleum after BP sold its rights. BP commercializes the brand in Northern California, Oregon and Washington, while Marathon has rights for the rest of the United States an ...
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Champlin Petroleum Company
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Cities Service Company
Citgo Petroleum Corporation (or Citgo, stylized as CITGO) is a United States–based refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. Headquartered in the Energy Corridor area o ...
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Forest Oil Company
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Gulf Oil Corporation
Gulf Oil was a major global oil company in operation from 1901 to 1985. The eighth-largest American manufacturing company in 1941 and the ninth-largest in 1979, Gulf Oil was one of the so-called Seven Sisters oil companies. Prior to its merger ...
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Marathon Oil Company
The marathon is a long-distance foot race with a distance of , usually run as a road running, road race, but the distance can be covered on trail routes. The marathon can be completed by running or with a run/walk strategy. There are also w ...
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Murphy Oil Corporation
Murphy Oil Corporation is a company engaged in hydrocarbon exploration headquartered in Houston, Texas.
The company is ranked 625th on the Fortune 500 and 1860th on the Forbes Global 2000.
As of December 31, 2020, the company had of estim ...
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Petrofina S.A.
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Phillips Petroleum Company
Phillips Petroleum Company was an American oil company incorporated in 1917 that expanded into petroleum refining, marketing and transportation, natural gas gathering and the chemicals sectors. It was Phillips Petroleum that first found oil in the ...
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Signal Oil and Gas Company
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Standard Oil Company of California
Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in S ...
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Tenneco Inc.
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The Standard Oil Company (Ohio)
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Union Oil Company of California
Union Oil Company of California, and its holding company Unocal Corporation, together known as Unocal was a major petroleum explorer and marketer in the late 19th century, through the 20th century, and into the early 21st century. It was headqu ...
See also
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Nuclear Electric Insurance Limited
Nuclear Electric Insurance Limited (NEIL) is a mutual insurance company which insures all nuclear power plants in the United States as well as some facilities internationally. The company is based in Wilmington, Delaware, and is registered in Berm ...
—mutual insurance company serving the nuclear power industry
References
External links
* {{official website, 1=http://www.oil.bm/
Insurance companies of Bermuda
Mutual insurance companies
Petroleum industry
Financial services companies established in 1972