UPCOMING YPE EVENTS
- YPE Dubai & Abu Dhabi - Speaker Series - The Great Oil Deflation on Feb 4, 2015
- YPE Midland - NGP Young Leaders in Energy Dinner and Forum on Feb 5, 2015
- YPE Houston: Take Action-Leadership Seminar on Feb 6, 2015
- YPE Calgary Presents: Energy and Entrepreneurship by Suzanne West on Feb 12, 2015
- Houston HH Sponsored by Tulane University Houston Campus on Feb 12, 2015
- YPE Oklahoma City - Charity Networking Event on Feb 19, 2015
Are you ready to join a fast-paced E&P company located in Downtown Denver? This accounting position is for an individual wanting to work in an exciting startup atmosphere with a group of hard-working individuals. In this role, you will be processing proceeds, preparing regular reports for management and investigating and reconciling records.(more)
New and Old Leaders in the Upstream Oil Industry
“The Seven Sisters" refers to the seven international oil companies that dominated the world's oil production after World War II. The Seven Sisters consisted of the three companies formed as a result of the U.S. Government mandated break-up of Standard Oil, along with four other major oil companies. They were able to capitalize on the rapidly increasing demand for oil by integrating the energy value chain – production, refinement and distribution. The term “Seven Sisters” was coined by Italian energy patriarch Enrico Mattei.
The Seven Sisters achieved considerable success with most Third World oil producers due to its well organized negotiation strategy. However, by way of the formation of OPEC, the Arab states began to gain control over oil prices and production. The demise of The Seven Sisters began in 1960 and continued further through the 1970s, when its power and influence had greatly decreased.
The Seven Sisters included Standard Oil of New Jersey, Royal Dutch Shell, Anglo Persian Oil Company, Standard Oil of New York, Standard Oil of California, Gulf Oil and Texaco.
In 2007, the Financial Times profiled an emerging trend of the dominance of the global oil industry by national oil companies, "The New Seven Sisters." These include Saudi Aramco (Saudi Arabia), Gazprom (Russia), CNPC (China), NIOC (Iran), PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). These state-owned giants control more than one-third of the world's oil and gas production and one-third of the world's oil and gas reserves. In contrast, the "Old Seven Sisters" - which has shrunk to four companies as a result of consolidation - today produces only about 10% of the world's oil and gas and controls only about 3% of the world's reserves.