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Tengizchevroil
Tengizchevroil is a joint venture between Chevron (50% share in the consortium), ExxonMobil (25% share), KazMunayGas (20% share) and LukArco (5% share). The joint venture was formed in April 1993, when the government of Kazakhstan granted exclusive 40-year rights to Tengizchevroil LLP (TCO) to develop the Tengiz and Korolevskoye oil fields located in the north-eastern reaches of the Caspian Sea in Kazakhstan. History and operations From a two-company joint venture in 1993 (between the Kazakhstani state oil company KazakhOil, now KazMunayGas, and the American oil giant Chevron) Tengizchevroil expanded in 1996–1997 into a four-company consortium: ExxonMobil Kazakhstan Ventures, an ExxonMobil subsidiary, and LukArco, a joint venture between Lukoil and Atlantic Richfield 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 ri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tengiz Field
Tengiz field ( kk, Теңіз мұнай кен орны, ''Teñız mūnai ken orny''; Tengiz is Turkic for "sea") is an oil field located in northwestern Kazakhstan's low-lying wetlands along the northeast shores of the Caspian Sea. It covers a project license area which also includes a smaller Korolev field as well as several exploratory prospects. Sizewise, Tengiz reservoir is wide and long. Discovered in 1979, Tengiz oil field is one of the largest discoveries in recent history. The city of Atyrau, north of Tengiz, is the main transport hub of Tengiz oil. Many nations are involved in a large geopolitical competition to secure access to this source of oil. The Tengiz oil fields entered a new phase of production with the construction of its Second Generation Project (SGP) and the introduction of sour gas injection (SGI). This onshore development, which has been in the planning and approval stage since 2002, began in 2004 and required a total investment of $7.4bn. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chevron Corporation
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 San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil and natural gas industries, including hydrocarbon exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. Chevron traces its history back to the 1870s. The company grew quickly after the breakup of Standard Oil by acquiring companies and partnering with others, especially Texaco. Socal was one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s. In 1985, Socal merged with the Pittsburgh-based Gulf Oil and rebranded as Chevron; the newly-merged company later merged with Texaco in 2001. Today, Chevron manufactures and sel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atlantic Richfield
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 and in Mexico. ARCO had been established in 1966 as the "Atlantic Richfield Company", an independent oil and gas company formed after the merger of Atlantic Petroleum and the Richfield Oil Corporation. History From 1966 to 2000, the 'Atlantic Richfield Company', doing business as ARCO, was an independent American oil company with operations in the United States, Indonesia, the North Sea, the South China Sea, and Mexico. After its acquisition of Anaconda Copper Mining Company in 1977, ARCO had owned hard rock mines in several western states, which has created environmental clean-up liabilities to the company to this day even after the mines were closed in the early 1980s. In 2000, BP acquired ARCO for $26.8 billion. ARCO's retail and mark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Established In 1993
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Ventures
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlled affiliates ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil And Gas Companies Of Kazakhstan
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated lipids that are liquid at room temperature. The general definition of oil includes classes of chemical compounds that may be otherwise unrelated in structure, properties, and uses. Oils may be animal, vegetable, or petrochemical in origin, and may be volatile or non-volatile. They are used for food (e.g., olive oil), fuel (e.g., heating oil), medical purposes (e.g., mineral oil), lubrication (e.g. motor oil), and the manufacture of many types of paints, plastics, and other materials. Specially prepared oils are used in some religious ceremonies and rituals as purifying agents. Etymology First attested in English 1176, the word ''oil'' comes from Old French ''oile'', from Latin ''oleum'', which in turn comes from the Greek (''elaion''), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by the German-born Paul Reuter. It was acquired by the Thomson Corporation of Canada in 2008 and now makes up the media division of Thomson Reuters. History 19th century Paul Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions in 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aachen's Reuters House. Reuter moved to London in 1851 and established a news wire agency at the London Royal Exchange. Headquartered in London, R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kazakhstan
Kazakhstan, officially the Republic of Kazakhstan, is a transcontinental country located mainly in Central Asia and partly in Eastern Europe. It borders Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eigh ... to Kazakhstan–Russia border, the north and west, China to China–Kazakhstan border, the east, Kyrgyzstan to Kazakhstan–Kyrgyzstan border, the southeast, Uzbekistan to Kazakhstan–Uzbekistan border, the south, and Turkmenistan to Kazakhstan–Turkmenistan border, the southwest, with a coastline along the Caspian Sea. Its capital is Astana, known as Nur-Sultan from 2019 to 2022. Almaty, Kazakhstan's largest city, was the country's capital until 1997. Kazakhstan is the world's largest landlocked country, the largest and northernmost Muslim world, Muslim-majority cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lukoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, petroleum products, and electricity. It was formed in 1991 when three state-run, western Siberian companies named after the respective town in Khanty–Mansi Autonomous Okrug that each was based in, Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz, merged. Its name is the combination of the acronym LUK (initials of the oil-producing cities of Langepas, Uray, Kogalym) and the English word "oil". Lukoil is the second largest company in Russia after Gazprom, and the country's largest non-state enterprise in terms of revenue, with ₽4,744 billion in 2018. In the 2020 Forbes Global 2000, Lukoil was ranked as the 99th-largest public company in the world. Internationally, it is one of the largest global producers of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ExxonMobil
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 gr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
