Vyvluder Ol: Difference between revisions
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Public limited company | |
Traded as | VVE:OL |
Industry | Oil and gas |
Founded | 1984 as merger of Vyvluder Nazonal Ol and Norda |
Headquarters | , |
Area served | International |
Key people | Jie Cheng (Executive Director) |
Revenue | µ28.5 billion |
Number of employees | 92,000 |
Vyvluder Ol (pronounced ˈvʏv.lə.de̞ːɾ o̞ɫ, commonly shortened to just Ol or known in English as Vyvlander Oil) is an Vyvlander oil and gas company headquartered in Jesel, Vyvland. The company is part state-owned and part owned via investment through the stock market; both have shares worth roughly 50%. Vyvluder Ol is the second-largest company headquartered in Vyvland after Vludbank, although Ol's domestic revenue exceeds that of Vludbank. Abroad, it often trades as Ol, Vol or OL.
The company was founded in 1984 as a merger between the former South Vyvlander Vyvluder Nazonal Ol and Norda, North Vyvland's largest oil company. Vyvluder Ol operates 84% of Vyvland's active offshore drilling rigs within the country's exclusive economic zone, in addition to many other operations internationally. Although oil refining is directly controlled by the Vyvlander government, Ol also acts as a distributor of oil and gas to other businesses and to the public, via its network of petrol stations, which is the most extensive in Vyvland.
Due to strict safety and environmental regulations, Ol's operating costs within Vyvland are relatively high, and it has thus been unable to turn a profit in some recent years, especially prior to its nationalisation under Prime Minister Minke Selengborg in 2007. However, since then, half of the shares in the companies have been sold on the stock market, while profits have also begun to recover.
International operations
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