Boyle's Oil (Arabi): Difference between revisions
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On December 10, 2018, CEO Matthew Boyle announced the company had brokered an agreement with the [[Federal government of Arabi|Arabin federal government]] to phase out the use of fossil fuels and oil use over a 5-year period beginning January 1, 2020. The same day Boyle announced that in 2025 the company will be dissolved to form a new energy company based on using [[wikipedia:Renewable energy|renewable energy]] in order to combat [[wikipedia:Climate change|climate change]] brought on by [[wikipedia:Global warming|global warning]] from burning fossil fuels. | On December 10, 2018, CEO Matthew Boyle announced the company had brokered an agreement with the [[Federal government of Arabi|Arabin federal government]] to phase out the use of fossil fuels and oil use over a 5-year period beginning January 1, 2020. The same day Boyle announced that in 2025 the company will be dissolved to form a new energy company based on using [[wikipedia:Renewable energy|renewable energy]] in order to combat [[wikipedia:Climate change|climate change]] brought on by [[wikipedia:Global warming|global warning]] from burning fossil fuels. | ||
Between 2019 and 2022 the company has laid off over 13,000 employees and 20,000 more are expected to be laid off by the end of 2023. By the end of 2024, 15,000 are expected to be laid off, leaving approximately 15,000 remaining employees before the company is dissolved in 2025. Matthew Boyle stated that a majority of employees that were laid off will be offered positions within the new company. | |||
Revision as of 06:29, 7 August 2022
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| Public | |
| Traded as | BOC |
| Industry | Energy: Oil and gas |
| Founded | June 27, 1886 |
| Founder | Bailey Boyle |
| Headquarters | Old Clark City, , |
Area served | Worldwide |
Key people | Matthew Boyle (CEO) |
| Products | |
| Revenue |  AD$234.56 billion (2019) |
| AD$25 billion (2019) | |
| AD$18.32 billion (2019) | |
| Total assets | AD$333.75 billion (2019) |
| Total equity | AD$276.43 billion (2019) |
Number of employees |  50,000 (2022) |
Boyle's Oil Company, doing business as Boyle's Oil, is an Arabinian multinational oil and gas company headquarted in Old Clark City. The company was founded by Bailey Boyle in 1886.
On December 10, 2018, CEO Matthew Boyle announced the company had brokered an agreement with the Arabin federal government to phase out the use of fossil fuels and oil use over a 5-year period beginning January 1, 2020. The same day Boyle announced that in 2025 the company will be dissolved to form a new energy company based on using renewable energy in order to combat climate change brought on by global warning from burning fossil fuels.
Between 2019 and 2022 the company has laid off over 13,000 employees and 20,000 more are expected to be laid off by the end of 2023. By the end of 2024, 15,000 are expected to be laid off, leaving approximately 15,000 remaining employees before the company is dissolved in 2025. Matthew Boyle stated that a majority of employees that were laid off will be offered positions within the new company.