- UN extends "Oil-for-food" initiative with Iraq
- Qatar opens world's largest LNG export facility
- Kyoto protocol signed
- Annual average gasoline price (US) $1.24/gal.
- 1st successful shale gas well drilled by Mitchell Energy
- British Petroleum (BP) merges with Amoco
- Riyadh Pact - Saudi Arabia, Venezuela and Mexico agree to take 2-3% production cut
- Annual average gasoline price (US) $1.07/gal.
- Exxon Corporation acquires Mobil Corporation
- Total S.A. acquires Petrofina
- British North Sea oil production peaked at 4.5 million barrels per day
- Annual average gasoline price (US) $1.18/gal.
- BP Amoco buys Arco
- Total Petrofina buys Elf
- Chevron Corp. merges with Texaco Inc
- Annual average gasoline price (US) $1.52/gal.
- 9/11 attacks
- Kashagan field discovery (Kazakhstan) - world's largest oil find in 3 decades
- Phillips Petroleum and Conoco merger
- Annual average gasoline price (US) $1.46/gal.
- Prestige oil tanker spill off coast of Spain
- World oil production reached nearly 67 million barrels per day
- Extractive Industries Transparency Initiative launched
- Annual average gasoline price (US) $1.39/gal.
- Khodorkovsky arrested and Yukos Oil dismantled by Russian government
- BP and Russian investors form TNK-BP
- Iraq war begins
- Annual average gasoline price (US) $1.60/gal.
- US gasoline prices top $2/gallon for first time
- Oil prices for September delivery of light crude hit record high of $44.98 /bbl
- ConocoPhillips takes 7.6% stake in Russia's Lukoil
- Annual average gasoline price (US) $1.90/gal.
- Hurricane Katrina hits causing US gasoline prices to soar over $3/gallon
- International consortium signs deal to build Vietnam's first refinery
- Chevron Corp. buys Unocal Corp.
- Annual average gasoline price (US) $2.31/gal.
- Crude oil traded for over $79 per barrel, setting an all-time record high
- China begins importing LNG for the first time
- World's 2nd largest gas field discovered - Galkynysh gas field onshore Turkmenistan
- Annual average gasoline price (US) $2.62/gal.
- Venezuela nationalizes part of oil industry by taking control of oilfields operated by IOCs
- Brazil's pre-salt discovery by Petrobras - Tupi field - with estimated 8 billion barrels of crude
- PetroChina becomes world's largest listed company with IPO
- Statoil and Norsk Hydro merger
- Annual average gasoline price (US) $2.84/gal.
- Retail divestments: BP, ConocoPhillips and ExxonMobil all announce plans to exit direct ownership of their retail gasoline operations
- Crude oil prices break $100 for first time in history
- Global financial crisis begins, and oil prices rapidly fall
- Annual average gasoline price (US) $3.30/gal.
- The Tamar gas field was discovered off the coast of Israel
- Canada's Suncor buys rival Petro-Canada
- US and European oil giants sign $50 billion deal to develop one of Iraq's most prized oil fields
- Annual average gasoline price (US) $2.41/gal.
- First mass produced electric vehicle hits the market
- Petrobras issues $64B IPO
- Deepwater Horizon rig explosion and fire
- Annual average gasoline price (US) $2.84/gal.
- World's longest extended reach well drilled on Russia's Sakhalin Island (40,502 ft)
- Arab Spring - unrest creates concern over global energy supply
- Kinder Morgan acquires El Paso Corp
- Downstream spin-offs: ConocoPhillips and Marathon both spin off downstream business
- Annual average gasoline price (US) $3.58/gal.
- Rosneft acquires TNK-BP
- China's CNOOC acquires Nexen in Canada - China's biggest foreign deal ever
- Argentina takes control of YPF from Repsol
- Annual average gasoline price (US) $3.68/gal.
- Keystone Pipeline controversy
- Following nearly 10 years of declining oil production, Mexico votes to allow foreign investment and production-sharing agreements
- Oil companies begin exploring the Arctic
- Annual average gasoline price (US) $3.58/gal.
- Oil prices start dramatic decline due in part to excess global supply
- Year marked strongest growth for renewable energy according to a report by IEA
- International sanctions imposed upon Russia
- Annual average gasoline price (US) $3.44/gal.
- US becomes world's largest producer of oil and natural gas
- Cheniere Energy receives first US LNG export license
- COP21 - Paris agreement on climate change
- Annual average gasoline price (US) $2.52/gal.
- Royal Dutch Shell acquires BG Group
- Schlumberger acquires Cameron
- US becomes net exporter of natural gas for first time in over 60 years
- OPEC agrees to cut its overall production by 1.2 million barrels a day
- Annual average gasoline price (US) $2.25/gal.
