Seven Sisters

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Group.png Seven Sisters  
(Big oil, Cartel)
Membership • Anglo-Iranian Oil Company
• Gulf Oil
• Royal Dutch Shell
• Standard Oil Company of California
• Standard Oil Company of New Jersey
• Standard Oil Company of New York
• Texaco

The 'Seven Sisters' was a common term for the seven multinational oil companies of the "Consortium for Iran" oligopoly or cartel, which dominated the global petroleum industry from the mid-1940s to the mid-1970s. Alluding to the seven mythological Pleiades sisters fathered by the titan Atlas, the business usage was popularized in the 1950s by businessman Enrico Mattei, then-head of the Italian state oil company Eni. The industry group consisted of:[1][2][3]

  1. Anglo-Iranian Oil Company (now BP)
  2. Gulf Oil (later part of Chevron)
  3. Royal Dutch Shell
  4. Standard Oil Company of California (SoCal, now Chevron)
  5. Standard Oil Company of New Jersey (Esso, later Exxon)
  6. Standard Oil Company of New York (Socony, later Mobil, now part of ExxonMobil)
  7. Texaco (later merged into Chevron)

Preceding the 1973 oil crisis, the Seven Sisters controlled around 85 percent of the world's petroleum reserves.[4] Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies in emerging-market economies, such as Saudi Aramco, Gazprom (Russia), China National Petroleum Corporation, National Iranian Oil Company, PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). In 2007, the Financial Times called these "the new Seven Sisters".[2][5]

 

An event carried out

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EventDateLocation
Iran/1953 coup d'état15 August 1953 - 19 August 1953Iran


References

  1. Sampson, Anthony (1975). The Seven Sisters: The Great Oil Companies and the World They Shaped. New York: Viking Press. ISBN 0-553-20449-1. 
  2. a b Hoyos, Carola (11 March 2007). "The new Seven Sisters: oil and gas giants dwarf western rivals". Financial Times. Retrieved 20 October 2013. 
  3. "Business: The Seven Sisters Still Rule". Time. 11 September 1978. Retrieved 24 October 2010. 
  4. Mann, Ian (24 January 2010). "Shaky industry that runs the world". The Times (South Africa). Archived from the original on January 27, 2010. Retrieved 12 April 2016. 
  5. Vardi, Nicholas (28 March 2007). "The New Seven Sisters: Today's Most Powerful Energy Companies". Seeking Alpha. Retrieved 12 April 2016. 
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