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Understanding oil is essential for understanding modern history. The 20th century has rightly been called the century of oil, and the beginning of the 21st century suggests that this strategic commodity still gains in importance. From its creation in 1907 Royal Dutch Shell has played a key role in the global oil industry. For most of the 20th century Royal Dutch Shell was either the largest or, after Standard Oil/Exxon, the second largest oil company.
From Challenger to Joint Industry Leader
In 1907 the Royal Dutch Company for the Exploitation of Oilwells in the Dutch East Indies and the "Shell" Transport & Trading Company merged their respective enterprises. By combining their forces they evolved into a worldwide enterprise within ten years and quickly became industry leaders.
Powering the Hydrocarbon Revolution
It was a period in which Shell recovered very rapidly from the losses of the war and emerged as the second largest oil company in the world, despite many new challengers and competitors. Shell was one of the forces behind the hydrocarbon revolution. With the growth of the number of cars, trains, and planes the demand for transport fuels was enormous. Shell made the strategic decision to develop a petrochemical business and became a significant chemicals company. Chemicals became the second core business of the Group.
Keeping Competitive in Turbulent Oil Markets
This was a period in which Shell had to keep competitive in turbulent oil markets. The demand for gas increased, making gas Shell's second most important product. At the same time the Group remained a strong oil company and a major player in petrochemicals.