PLAITS

McGRAW HilL FINAHCIAl

and t.IJe

HIS'i'ORY

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Platts is a leader in providing Informanon about oil prices. industry news, market commentary and analysis. This limeline explores how Plalls has grown wilh lhe induslry to become an integral part of oil hiSlory.

First oil drilling

Oil wells are drilled in China up +0 800ft deep using drill blls attached to bamboo poles

Fir~ us oil ~ri"ed--Edwin Drak'e slru'CK:E!i(..69ft below the suifa~ In Titusville, Pennsylvania. During this period. oil was used primarily to make kerosene for lighting purposes

Rotary drilling

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Rotary drilling came of age In 1901. when Anthony Francis Lucas combined the use of a slearn-driven rig and mud. Instead of water, In the Spindletop discovery well. In Texas, US

Warren Platt becomes .a reporter for Cleveland Plain Dealer and covers Standard 011 Trusl, among olher loplcs

Petroleum News
Warren Plait starts l'Iafional Pelroleurn News ~ --

Thermal cracking
Chemical enghieers William 8urton and Robert Humphreys patent a method of oil refining that significantly tncreases petrol (gasoline) yields

Platts Oilgram
In 1923, Platts published the first of many daily newsleHers, Platts Ongram

Global benchmark
Standard 011. Royal Dutch Shell and Anglo-Persian Oil base an of! ttans'acllon on Platts' published US Gulf Coast prices plus freigh t. eslabllshing PlatIs as a global benchmark

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Horizontal drilling
The first recorded true horizon lal oil well. drrlled near Texan, Texas, US

Floating rig
The first fI oatlng drilling rig reported In the Caspian Sea

Nylon produced
Nylon firsl producea en February 28, 1935, by Wallace Carothers al DuPon!'s research faCility In Ihe l,IS

Platts Oilgram News launched

...wlih breeder ihdustry, news. nol jusl maJket pric~

First true offshore rig

Kerr-McGee,Otl
r

~"i:lustries bring$'

in Ihe first rig wtlh no sighl of land on the Outer C:'Ontrnenlal SJ-,elf..oFf

McGraw-Hili
Platts is acquired in 1953 by New York-based The McGraw-Hili Companies

louisiana,

US

Petroleum Week
i...

OPEC
OPeC (Organization of Petroleum Exporting Counlrles) founded In Baghdad - Saudi Arabia, Venezuela, Kuwait, Iraq, and Iran

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McGfaw-Hililaunches Petroleum Week - a producer-oriented news weekly

us oil
production peaks
Firsl oil production from North Sea

Arab oil embargo

Petrochemicals
Platts expands Into petrochemical markets with Ihe launch of Platts'

PLATTS TELETEX

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Platts launches telex-delivered daily reports - Marke1scans the precursor to "rear'ilffl'e!' news delivery

Measure While Drilling technique first used ...

Binary pulses are sent up ihe mud

Platts launches Crude Oil Marketwire

slurry to let ihe operalor know what the drill head is doing

Platts Global Alert

Plaits launches lis first r.eal-lime news and market Irlforma1ion screen service, Pipits Global Alert

3D Data
New 3D.selsm1c-dala and 3D-compuler modeling of 011 reservoirs belhg new life 10 old fields

Iraq's tnvastcn of Kuwait IEld

10 a spike In Ihe price of 011

S~ YEARS MORATORIUM_
...on mTning and 011 explorailon In Antarctica approved

Markel-on-Close metliodolo, W Introduced in Asian refined oJI products

Market-On-Close
Plaits' Mar!<et-On-CJose price assessment melhcXlology is introduced 10. and adopled by. intetnaNonal crude. oil (WTI. Dated Brent. Dubai, Omah) markets

Caspian Connection
Coostrucilon starts on Bosphorus bypass pipe.line bringing oil from the Caspian to the Mediterranean

Energy Conference
Plaits acquires CBr Research'S Energy Conference BUSiness and trrcreases ifs energy and metals coofereoces 10 50 per annum

eWindow
Plaits enhances the efficiency of their Market-on-Close 011 price assessment process with their online communications tool. Platts Editorial Window Khurals Oilfield in Saudi Arabia brought onstream ++he largest single 011 development ever - with an expected producuon 1.2 million bId of oil. 315,000 Mef/d of gas and 70,000 bId of NGLs per day

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ICE Brent Crude Oil Fulures hits a record high of $147.50 per barrel on continued ccncern over supplies and Ihe weak us dollar_ tater In Ihe year drops to $50 with global recession fears AI the requesl of Ihe Russian government. Platts develops a price discovery process and d<;lilyprice assessments for Eastern Siberian Pacific Ocean (ESPO) crude Oil. Russla's firsI petroleum flow From lis wesl-lo-easl pipeline

Bakken Blend
Platts celebrates lis lOOth anniversary of bringing Itansparency and efficiency 10 markets via lis news. iriformaHon. data and services

Plalls Introduces Bakken

Blend prlce assessments, lhe firsI dally price references of shale-origin crude oil.

Arab Spring

Geo political tension lncrease oil market volatility

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USShale Explosion

Shate 011 producttcn

ramps lip in key

us b..,slns

Daily price assessments

Plaits publisnes'ihe Ilrsl indepensEint daily price assessm!lnf of mude oil produced from the Eagle Ford. Texas shale formation

Changes to brent crude assessment

Platts Jntroduce Quality Premiums for Oseberg and Ekofisk crude 011 in its North Sea benchmarks

PLATTS
MCGRAW Hill FINANCIAL Discover more at www.platts.com
sources www.plalts.com www.geohelp.nel/ www.greatachievements.org/ hltp;//en.wikipedia.org h ItpJ / science.hows tuffworks.com