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The expression "Seven Sisters" was coined by the head of the Italian state oil company (), Enrico Mattei, [22] who sought membership for his company, but was rejected.The history of the supermajors traces back to the seven oil companies which formed the "Consortium for Iran" cartel and dominated the global petroleum industry from the mid-1940s to the 1970s.
Many of these companies later became part of the Seven Sisters, which dominated global petroleum production in the 20th century, and became a majority of today's largest investor-owned oil companies, with most tracing their roots back to Standard Oil. Some descendants of Standard Oil were also given exclusive rights to the Standard Oil name.
Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911. The origins of the trust lay in the operations of the Standard Oil Company (Ohio), which had been founded in 1870 by John D. Rockefeller.
The Seven Sisters hold a major position in this market structure. Formed in the 1950s, the group was an alliance of seven multinational oil companies in the world. The member organizations Exxon, Mobil, Socal, Royal Dutch-Shell, BP, Texaco and Gulf held dominance over 85% of the petroleum reserves until the 1970s.
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.
The founding members of the IOP at various stages came to be known as the Supermajors, the "Seven Sisters", or the "Consortium for Iran" cartel, and dominated the global petroleum industry from the mid-1940s to the 1970s. [44] [45] Until the oil crisis of 1973, the members of the Seven Sisters controlled around 85% of the world's known oil ...
Big Oil, various lists of seven companies said to dominate the oil industry at various times; Seven Sisters (colleges), the name given to seven US liberal arts colleges that are historically women's colleges; Seven Sisters (law firms), seven Canadian law firms
The Seven Sisters: The Great Oil Companies and the World They Shaped. The Viking Press. ISBN 0-670-63591-X. de Clercq, Daan; Everts, Saskia; Langelaan, Michaja; Stoop, Ellen; van Voorst Vader-Duyckinck Sander, Jet (2010). Uit Een Bron van Weelde: Het leven van de Erven Stoop [From a Source of Wealth: The Lives of the Stoop Heirs]. Stichting ...
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