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Gulf Oil. Gulf Oil was a major global oil company in operation from 1901 to 1985. [ 1] The eighth-largest American manufacturing company in 1941 and the ninth largest in 1979, Gulf Oil was one of the Seven Sisters oil companies. Prior to its merger with Standard Oil of California, Gulf was one of the chief instruments of the Mellon family ...
Gulf Oil LP is an American oil company formed when Chevron Corporation acquired the naming rights to the Gulf Oil brand in the United States for $13 billion in 1985. [ 1 ] [ 5 ] By 2010, convenience store chain Cumberland Farms acquired all rights to the brand from Chevron, making it the sole owner and marketer in the country. [ 2 ]
The 1990 oil price shock occurred in response to the Iraqi invasion of Kuwait on August 2, 1990, [1] Saddam Hussein's second invasion of a fellow OPEC member. Lasting only nine months, the price spike was less extreme and of shorter duration than the previous oil crises of 1973–1974 and 1979–1980, but the spike still contributed to the recession of the early 1990s in the United States. [2]
ConocoPhillips realized an average price of $56.56 per BOE in the period, 4% higher than the year-ago quarter. That combination of rising production and prices helped boost the company's earnings ...
At an OPEC summit at the Sheraton Hotel in Kuwait City on October 16, 1973, it was announced the price of oil would go from $3.01 U.S. dollars per barrel to $5.12 per barrel. [48] After agreeing to the price increase, the Iranian delegation left Kuwait City as the Shah of Iran was only interested in higher oil prices. [48]
A sale of federal Gulf of Mexico oil and gas leases that had been scheduled for Nov. 8 was delayed Thursday by a federal appeals court, pending court arguments that focus on protections for an ...
The stock declined 5% in 2023 after skyrocketing 119% in the prior year, when oil peaked, making it the best-performing equity of the S&P 500 that year. Since the start of 2024 shares are up more ...
BP announced that it was setting up a new unit to oversee management of the oil spill and its aftermath, to be headed by former TNK-BP chief executive Robert Dudley, [67] who a month later was named CEO of BP. [66] On 1 October, BP's London Stock Exchange price reached 439.75 pence, the highest point since 28 May. [68]