| Type | 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.
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]
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