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    Big Oil - Wikipedia

    Preceding the 1973 oil crisis, the Seven Sisters controlled around 85 per cent of the world's petroleum reserves. [33] In the 1970s, many countries with large reserves nationalized holdings of all major oil companies. See more

    Big Oil is a name sometimes used to describe the world's six or seven largest publicly traded and investor-owned oil and gas companies, also known as supermajors. The term, particularly in the United States, … See more

    As the Seven Sisters
    The expression "Seven Sisters" was coined by the head of the Italian state oil company ( See more

    As a group, the supermajors control around 6% of global oil and gas reserves. Conversely, 88% of global oil and gas reserves are … See more

    A year-long U.S. House of Representatives investigation concluding in 2022 uncovered major efforts by Big Oil to deceive the public … See more

    mid-1940s to the 1970s
    The seven oil companies formed the Consortium for Iran cartel and dominated the global petroleum industry.
    1951
    Iran nationalized its oil industry, previously controlled by the Anglo-Iranian Oil Company (now BP), and Iranian oil was subjected to an international embargo.
    1959
    The Seven Sisters reduced the price of oil for Venezuela and Middle Eastern producers, which provoked anger among oil-producing governments. This prompted the oil-producing governments to take the initial steps to establish OPEC.
    1973
    Preceding the 1973 oil crisis, the Seven Sisters controlled around 85 per cent of the world's petroleum reserves.
    13 February 1998
    Douglas Terreson of Morgan Stanley published a report called The Era of the Super Major, which foretold a substantial consolidation phase of Major Oil companies which would result in a group of dominant Super-Major entities.
    1998
    BP and Amoco merged, representing the largest industrial combination on Wall Street at that time.
    1999
    Exxon and Mobil merged to form ExxonMobil. Total merged with Petrofina and with Elf Aquitaine, with the resulting company subsequently renamed Total S.A. (now TotalEnergies SE).
    2001
    Chevron merged with Texaco.

    The composition of Big Oil is subject to wide debate. Nearly all accounts of Big Oil include ExxonMobil, Chevron, Shell, BP, Eni and TotalEnergies. All six of these companies are … See more

    In the maritime industry, a group of six companies that control the chartering of the majority of oil tankers worldwide are together referred to as "oil majors". These are: See more

    • Energy portal
    • Other "Big" industries
    • Robber baron, a Gilded Age term for wealthy and … See more

     
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