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History of the Seven Sisters - Baran Can Yücel

The Seven Sisters (oil companies) is a classification named by the Enrico Mattei who is an Italian politician for the seven giant oil companies that managed the oil industry worldwide until the 1970s. The company names of seven sisters are; Anglo-Persian Oil Company worked between 1908-1954 after that they became BP, Gulf Oil run within these years 1901-1985 after this year purchased by Chevron, Royal Dutch Shell, Chevron, Exxon later joined with Mobil, Texaco (1901-2000) acquired by Chevron in 2001.

The traditional period starts with the Seven Sisters giant oil firms as the authoritative strength in world petroleum businesses for the decades after World War II. Royal Dutch Shell, British Petroleum, Gulf, Exxon, Mobil, Texaco, and Chevron, the cartel operated authorizations to oil in sovereign nations with plentiful petroleum sources (Sampson, 1975).

Permission gave a private power to explore for oil in countries area, along with the liberty to explore and making production any oil that was discovered (Wagner, 2009). In the oil market, the firm supplied a division of the earnings in authorities to the country in which they worked.

This adjustment proffered the Sister’s attribute powers over oil in Venezuela and newly named OPECs countries, and end of 1950, the Sister’s cartel maintained a 98.3% exchange portion of world petroleum production (Engen, 2009). BP, Chevron, Mobil, and Shell are remaining today, and we can say that they are the big four for the oil industry of today’s world. As for why this description is accepted;

After the 1940s, these seven big companies built a cartel that provided more than 83% of world oil production and became an oligopoly for the oil industry. They are in steadfast competition with each other, but when the rise of another company comes together, they blend and threaten that company. These companies could be termed a stop at least partially with the later OPEC countries.

According to the freshest statement of the Financial Times, cartels of this century; Shell, Exxon Mobil, Chevron, BP, as well as four major oil giants, as well as Total and ENI. However, especially in recent years, non-OECD countries have included China National Petroleum Co. (CNPC), Gazprom Russia, ConocoPhillips, Petrobras Brazil, Petronas Malaysia, and Saudi Aramco. However, the share and support of the four major oil giants among these companies, which have achieved significant progress in recent years, is not known. Some energy experts claimed that new companies’ growth occured with the help of seven sisters.

These seven sisters, who established the international oil industry for nearly a century, developed them through incorporations, takeovers, and incorporations and brought them to the present day, have a higher income than the gross national product of many other countries, and the tonnage of the tankers they possess is higher than the naval forces of many nations.


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