Formerly known as Standard Oil of California (Socal). Shell and BP (formerly British Petroleum). State-Owned and Regional Corporations:
Formed from the merger of Standard Oil of New Jersey and Mobil.
While thousands of smaller entities exist, the market is dominated by major multinational and state-owned corporations:
(China National Petroleum Corporation) and Sinopec (China Petroleum & Chemical Corp). Indian Oil and ONGC Videsh (India). Rosneft and Lukoil (Russia). NNPC (Nigerian National Petroleum Corporation). Independent Refiners & Trading Houses: Western Refining and Tesoro Corporation . Phillips 66 and Valero Energy .
