From Wikipedia, the free encyclopedia
Bnito
(from Russian "Batumskoye Neftepromyshlennoye i Torgovoye Obschestvo", "Батумское нефтепромышленное и торговое общество")
, or the
Caspian and Black Sea Oil Company
, was an oil business founded in 1883
[1]
by
Alphonse Rothschild
of the
Rothschild banking family of France
.
[2]
Context
[
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In 1883, the Swede Robert Noble approached the French Rothschilds to finance a railway line from Baku to the Black Sea.
Mayer (Alphonse) de Rothschild
secured the operation and received oil rights in the area in return. Seeing that Russian oil exports could be more competitive than US oil exports, the Rothschilds bought Bnito, and turned it into the Societe Commerciale et Industrielle de Naphte Caspienne et de la mer Noire (The Caspian and black Sea Oil Company). Other Russian oil companies were purchased by the Rothschild and the
Deutsche Bank
to consolidate the Russian oil market.
[3]
The company pioneered carrying oil in
tankers
instead of wooden barrels and iron bidons.
[4]
By the turn of the century, the Caspian and Black Sea Oil Company started to compete with
Standard Oil
for international exports.
[3]
In 1912, the company was acquired by
Royal Dutch Shell
.
[5]
The Rothschilds became shareholders of the latter.
[3]
See also
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References
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Divisions and subsidiaries
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Joint ventures
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Brands
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Facilities and places
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Controversies
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Other
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People
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Chief Executives
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Pre-1946
| Managing Director/ General MD of Royal Dutch Petroleum Company (1890-1946)
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Chairman of The Shell Transport and Trading Company (1897?1946)
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1946 to 2005
| Chairman of the Committee of Managing Directors of the Royal Dutch / Shell Group
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2005 ? present
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