Marcus Samuel

Marcus Samuel - He also set up bulk oil storage at ports in...

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Brent Mansingh Fred Thurber September 29, 2007 Marcus Samuel’s Relevance to Petroleum Engineering Marcus Samuel was the son of an English shell merchant who started and oil business in 1892. Samuel named his father’s company the “shell” Transport and Trading Company, Limited (1897). The initial business centered on shipping oil exports for lamps and cooking to the Far East. Samuel commissioned a special ship in 1892, the 5,010-ton Murex , which became the world's first oil tanker; he began exporting Russian kerosene through the Suez Canal to Singapore and Bangkok. Marcus commissioned a fleet of steamers to carry oil in bulk, using for the first time the Suez Canal.
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Unformatted text preview: He also set up bulk oil storage at ports in the Far East and contracted with Bnito, a Russian group of producers controlled by the Rothschilds, for the long-term supply of kerosene. His strategy was high-risk: if news of their operations got out they would be squeezed out by Rockefeller’s dominant Standard Oil. In 1907, Shell merged with the Royal Dutch Petroleum Company, which had significant oil holdings in Asia, to form the Royal Dutch/Shell Group of Companies, one of the world’s largest multinational oil corporations. Samuel was knighted in 1898 and became Viscount Bearsted in 1925.,_Marcus...
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This note was uploaded on 04/07/2008 for the course PETE 2001 taught by Professor Thurber during the Spring '07 term at LSU.

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