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Cartels

Cartels. I- Well known cartels. Seven sister 7 oil companies that dominated mid 20th century oil production, refining, and distribution. I- Well known cartels. OPEC. Qatar (1961) Indonesiea (1962) , leaves in 2008 Libyea (1962) Abou Dabi (1967) – Emirates (1971) Algeria (1969)

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Cartels

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  1. Cartels

  2. I- Well known cartels • Seven sister • 7 oil companies that dominated mid 20th century oil production, refining, and distribution

  3. I- Well known cartels • OPEC Qatar (1961) Indonesiea (1962) , leaves in 2008 Libyea (1962) Abou Dabi (1967) – Emirates (1971) Algeria (1969) Nigeria (1971) Equador (1973), leaves in 1992 comes back in 2007 Gabon (1975), leaves in 1996 Angola (2007)

  4. I- Well known cartels • OPEC Production Quotas => price control

  5. I- Well known cartels • OPEC

  6. I- Well known cartels • De Beers • controlled the flow of diamonds in the US market place for decades • - owned most of the stock, about 90% combined

  7. I- Well known cartels • De Beers • Many names : • London : “Diamond Trading company” • Israel : “The syndicate” • Europe : “C.S.O” • Africa : “Central Selling Organization“ “De Beers proved to be the most successful cartel arrangement in the annals of modern commerce.”

  8. I- Well known cartels 500 million dollars fine 225 million dollars fine + More than 1 billion dollars to individuals • Vitamines • Swiss Roche & German BASF

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