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1998 World Oil Market Chronology
This is a chronology of the 1998 world oil market. Chronology *January 7: Due to the continuing Asian economic crisis, South Korea's refiners reportedly cut operations to around 80 percent of capacity. The refiners also had difficulty securing crude oil supplies for delivery scheduled in late January or February, which could cut operations to as low as 70 percent-75 percent of capacity. (Dow Jones) *January 15: Environmentalists hail the implementation of a 50-year moratorium on mining and oil exploration in the Antarctic. A protocol for the protection of the Antarctic was adopted by twenty-six countries in 1991, but it could not be implemented until Japan's ratification cleared the way last month. Antarctica contains 70 percent of the world's fresh water, and the moratorium attempts to preserve the world's least polluted continent. (WP) *February 5: Following a ruling by a federal judge denying a request from environmentalists and Native Americans seeking to block the sale of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and the Sea of Japan to the east. Like North Korea, South Korea claims to be the sole legitimate government of the entire peninsula and List of islands of South Korea, adjacent islands. It has Demographics of South Korea, a population of about 52 million, of which half live in the Seoul Metropolitan Area, the List of largest cities, ninth most populous metropolitan area in the world; other major cities include Busan, Daegu, and Incheon. The Korean Peninsula was inhabited as early as the Lower Paleolithic period. Gojoseon, Its first kingdom was noted in Chinese records in the early seventh century BC. From the mid first century BC, various Polity, polities consolidated into the rival Three Kingdoms of Korea, kingdoms of Goguryeo, Baekje, and Sil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exxon
Exxon Mobil Corporation ( ) is an American multinational oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the largest direct successor of John D. Rockefeller's Standard Oil, the modern company was formed in 1999 following the merger of Exxon and Mobil. It is vertically integrated across the entire oil and gas industry, as well as within its chemicals division, which produces plastic, synthetic rubber, and other chemical products. As the largest U.S.-based oil and gas company, ExxonMobil is the seventh-largest company by revenue in the U.S. and 13th-largest in the world. It is the largest investor-owned oil company in the world. Approximately 55.56% of the company's shares are held by institutions, the largest of which as of 2019 were The Vanguard Group (8.15%), BlackRock (6.61%), and State Street Corporation (4.83%). The company has been widely criticized and sued, mostly for environmental incidents and its history of climate cha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Market Timelines
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) and lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated lipids that are liquid at room temperature. The general definition of oil includes classes of chemical compounds that may be otherwise unrelated in structure, properties, and uses. Oils may be animal, vegetable, or petrochemical in origin, and may be volatile or non-volatile. They are used for food (e.g., olive oil), fuel (e.g., heating oil), medical purposes (e.g., mineral oil), lubrication (e.g. motor oil), and the manufacture of many types of paints, plastics, and other materials. Specially prepared oils are used in some religious ceremonies and rituals as purifying agents. Etymology First attested in English 1176, the word ''oil'' comes from Old French ''oile'', from -4; we might wonder whether there's a point at which it's appro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1999 World Oil Market Chronology
''Sources include: Dow Jones (DJ), New York Times (NYT), Wall Street Journal (WSJ), and the Washington Post (WP).'' *January 1: British Petroleum Company and Amoco Corporation complete their $53 billion merger. Chicago-based Amoco is the United States' fifth-largest oil company with roughly 9,300 gasoline stations. London-based British Petroleum, the world's third largest oil company, sells its products through a network of about 17,900 stations. (DJ) *February 4: Italy's ENI SpA and Russia's RAO Gazprom, the world's largest natural gas producer, agree to build a natural gas pipeline from Russia to Turkey at a cost of nearly $3 billion. Each project partner will hold a 50 percent stake in the project. The proposed pipeline, called the Blue Stream project, is expensive by industry standards partly because it would run at great depth under the waters of the Black Sea. (Asian WSJ) *February 10: U.S. Energy Secretary Bill Richardson visits Saudi Arabia to discuss potential U.S. investme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chronology Of World Oil Market Events (1970-2005)
Basic overview The 1930s 1934 *July 14: first oil arrives at the Tripoli terminal of the 12-inch Kirkuk-Haifa oil pipeline *October 14: first oil arrives at the Haifa terminal of the 12-inch Kirkuk-Haifa oil pipeline The 1950s 1951 *December 19: first shipment of Zubair oil sails from the new Al Faw terminal. The 1970s ''See: 1970–1979 world oil market chronology'' 1970 *January 1: US Federal oil depletion allowance reduced from 27.5 to 22.0 percent. *May 3: Trans-Arabian Pipeline delivery from Saudi Arabia to the Mediterranean interrupted in Syria, driving oil tanker rates to all time highs from June to December. *September 4 – October 9 Libya raises posted prices and increases tax rate from 50 percent to 55 percent. Iran and Kuwait follow in November. *December 9: OPEC meeting in Caracas establishes 55 percent as minimum tax rate and demands that posted prices be changed to reflect changes in foreign exchange rates. 1971 *January 12: Negotiations over posted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
