Seven Sisters (oil companies)
E777200
Seven Sisters (oil companies) were a powerful group of major Western oil companies that dominated global petroleum production, refining, and distribution from the mid-20th century until the rise of OPEC and national oil companies.
Observed surface forms (1)
| Surface form | Occurrences |
|---|---|
| Seven Sisters (oil companies) (historical grouping, via Mobil) | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
cartel-like group of oil companies
ⓘ
historical economic entity ⓘ informal alliance ⓘ |
| alsoKnownAs |
Seven Sisters
NERFINISHED
ⓘ
major Western oil companies cartel ⓘ |
| businessModel | vertically integrated oil operations ⓘ |
| characteristic |
coordination of investment and pricing strategies
ⓘ
long-term concessions with producing states ⓘ oligopolistic control of supply ⓘ |
| controlledShareOfWorldOil | large majority before 1970s ⓘ |
| country | multinational ⓘ |
| declineCause |
emergence of national oil companies
ⓘ
nationalization of oil resources ⓘ rise of OPEC ⓘ |
| dominantRegion |
Middle East oil fields
NERFINISHED
ⓘ
global petroleum market ⓘ |
| endPeriod | 1970s ⓘ |
| field |
energy history
ⓘ
international political economy ⓘ |
| historicalRole | dominated international oil industry before 1973 oil crisis ⓘ |
| industry |
oil and gas
ⓘ
petroleum ⓘ |
| influenced |
concession terms in oil-producing countries
ⓘ
global oil prices ⓘ structure of the international oil industry ⓘ |
| legacy | template for later multinational resource cartels ⓘ |
| mainActivity |
crude oil production
ⓘ
oil refining ⓘ petroleum distribution ⓘ |
| member |
Anglo-Iranian Oil Company
NERFINISHED
ⓘ
British Petroleum NERFINISHED ⓘ Gulf Oil NERFINISHED ⓘ Royal Dutch Shell NERFINISHED ⓘ Standard Oil of California NERFINISHED ⓘ Standard Oil of New Jersey NERFINISHED ⓘ Standard Oil of New York NERFINISHED ⓘ Texaco NERFINISHED ⓘ |
| memberCount | 7 ⓘ |
| namedBy | Enrico Mattei NERFINISHED ⓘ |
| nameOrigin | nickname coined by Enrico Mattei, head of Italy’s ENI ⓘ |
| opposedBy |
Enrico Mattei and ENI
NERFINISHED
ⓘ
oil-producing states seeking resource sovereignty ⓘ |
| powerBase | control of technology and capital in oil sector ⓘ |
| relatedEvent | formation of OPEC in 1960 ⓘ |
| startPeriod | 1940s ⓘ |
| successorConcept | supermajors (modern Big Oil companies) NERFINISHED ⓘ |
| timePeriod | mid-20th century ⓘ |
| typicalContractForm | concession agreements with low royalties ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Seven Sisters (oil companies) (historical grouping, via Mobil)