Britoil

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Britoil plc
PLC
IndustryOil
Founded1975
Defunct1988
HeadquartersGlasgow, 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[edit]

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[edit]

External links[edit]