Timerian-Assana Oil Company
| Public | |
| Industry | Energy: Oil and gas |
| Founded | 1912 |
| Founder | Trevor Assana |
| Headquarters | Forever, Timeria |
| Products |
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History
The Timerian-Assana Oil Company was founded in 1912 by Trevor Assana, an enterprising industrialist who recognized the vast potential of Timeria’s untapped oil reserves. The company began as a small venture, focusing primarily on local oil extraction and refining in central Timeria. Trevor Assana, a visionary with a deep understanding of Timeria’s geography, led the company to its first major discovery in 1916—a large oil field in what is now known as the Athacona Basin.
The discovery marked a turning point for Timerian-Assana, enabling the company to expand rapidly and secure its position as a dominant player in Timeria’s burgeoning oil industry. Throughout the 1920s and 1930s, the company continued to grow, exploring new fields and investing in advanced drilling technologies. By the time the World War broke out, Timerian-Assana was already one of the leading suppliers of oil to the Allied forces, further cementing its reputation as a critical component of the global energy market.
Ownership Structure
While Timerian-Assana Oil Company is publicly traded, a majority of shares remain within the Assana family, ensuring that the family retains significant control over the company’s operations and strategic direction. The Timerian government does not own any part of the company, but leases significant portions of land to the company for oil drilling. This relationship has been mutually beneficial, allowing Timerian-Assana to access rich oil reserves while contributing to the national economy.
Operations
Timerian-Assana Oil Company operates across various segments of the oil and gas industry, including:
- Upstream: Focused on oil exploration and extraction, Timerian-Assana has established significant operations in Timeria, offshore in the Albarine Sea, and more recently, in North Kandson and the Vasilin Sea.
- Midstream: The company’s shipping and pipeline network is extensive, enabling the transportation of crude oil from extraction sites to refineries and global markets.
- Downstream: Timerian-Assana owns and operates a series of refineries and retail outlets across Timeria and beyond, processing crude oil into refined products such as gasoline, diesel, and jet fuel for distribution.
- Global Operations: In recent years, Timerian-Assana has expanded its operations internationally, including significant investments in North Kandson and the Vasilin Sea. These expansions have allowed the company to diversify its oil sources and reduce dependence on domestic fields.
Production Capacity
Timerian-Assana Oil Company stands as the largest and most influential oil producer in Timeria, with a formidable production capacity that underscores its dominance in the energy sector. The company’s daily output reaches an impressive 2.4 million barrels of oil, a figure that reflects both the scale of its operations and the efficiency of its infrastructure.
To support this substantial production capacity, Timerian-Assana operates 20 state-of-the-art refineries strategically located across Timeria and its international sites. These refineries are the backbone of the company’s downstream operations, where crude oil is processed into a variety of refined products, including gasoline, diesel, jet fuel, and petrochemicals. The company’s refining network is designed for maximum efficiency, leveraging advanced technology and logistical planning to minimize costs and environmental impact.
Each refinery is a hub of activity, equipped with cutting-edge technologies that enable Timerian-Assana to refine crude oil with high efficiency and minimal waste. The refineries are also strategically positioned near major ports, railways, and pipelines, facilitating the swift and cost-effective transportation of both crude oil and refined products to domestic and international markets.
Environmental and Social Responsibility
The company has a complex and controversial history regarding its approach to environmental and social responsibility. During the 1990s, Timerian-Assana was at the center of a significant controversy when it was revealed that the company had actively funded research to discredit the growing body of scientific evidence supporting climate change. Internal documents, leaked in the late 2000s, showed that the company’s executives were aware of the potential impacts of fossil fuel emissions on the environment but chose to invest in misleading campaigns to protect their business interests.
The company’s denial of climate change had far-reaching consequences, delaying government action and public awareness in Timeria for years. In response to mounting pressure, Timerian-Assana eventually changed its public stance, pledging to invest in cleaner energy sources and adopt more sustainable practices. However, the legacy of its earlier actions continues to affect the company’s reputation, both domestically and internationally.