Seven Sisters

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Group.png Seven Sisters  
(Big oil, Cartel)Rdf-entity.pngRdf-icon.png
Seven Sisters.jpg
Interest ofHenri Deterding, Red Line Agreement
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
Big Oil oligopoly

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

EventLocationDescription
Iran/1953 coup d'étatIranThe first of many large scale coups was carried out at the behest of big oil, by the CIA. The report of the inaugural Bilderberg next year termed this "firm Western action in Persia ... [that] had produced successful results."


References

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