Hi Boo, I'd like You to have Basic Knowledge to know About Who's Who in the International Market (those of them not doing only Oil Biz but kinds of Commodities but no Need to Focus As we doing Petroleum products mainly). For Oil trading. , there were only 7 companies in the Past so Called "Seven Sisters", You Can Find More details from internet and search. Recently, there're Lots of trading houses like Glencore, Vitol, Mercuria, Noble, Phillip66 etc. Meanwhile Major Oils. are including Shell, Exxon Mobil, Chevron, etc.
The "Seven Sisters" was a term coined in the 1950s by businessman Enrico Mattei, then-head of the Italian state oil company Eni, to describe the seven oil companies which formed the "Consortium for Iran" cartel and dominated the global petroleum industry from. the mid-1940s to the 1970s. [1] [2] The group comprised Anglo-Persian Oil Company (now BP); Gulf Oil, Standard Oil of California (SoCal), Texaco (now Chevron); Royal Dutch Shell; Standard Oil of New Jersey (Esso / Exxon) and Standard Oil Company of New York (Socony) (D / B / a Mobil now Part of ExxonMobil). [3] [4]
Prior to the Oil Crisis of 1,973, the members of. the Seven Sisters controlled around 85 percent of the world's petroleum reserves, but in recent decades the dominance of the companies and their successors has declined as a result of the increasing influence of the OPEC cartel and state-owned oil companies in emerging-market economies.
Hope this will help for your basic understanding.
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