Britoil

Britoil plc
Private
Industry Oil
Founded 1975
Headquarters Glasgow, Scotland, UK
Key people
 Sir Philip Shelbourne, (former chairman)
David Walker (former CEO)

Britoil was originally a privatised British oil company operating in the North Sea. It was once a constituent of the FTSE 100 Index.

History

The company was originally formed in 1975 as the British National Oil Corporation (BNOC), a nationalised body, under the Petroleum & Submarine Pipe-lines Act 1975.[1] Its objective was to maintain adequate oil supply levels.[2]

The business of BNOC was transferred to the new company, Britoil, in August 1982.[3] Shares in the company were then issued on the London Stock Exchange in two stages in 1982 and 1985.[4]

The company was bought by British Petroleum in 1988.[5]

References

  1. ↑ World National Oil Company Statutes
  2. ↑ BNOC fades out
  3. ↑ Shift for British Oil
  4. ↑ British Government to Yield Its 'Golden Share' of Britoil
  5. ↑ Competition Commission Report 1988 Page 10


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