Royal Caven Petroleum
|This page (or section) is a work in progress by its author(s) and should not be considered final.|
|Type||Limited liable company|
|Industry||Oil, gas, energy|
|Predecessor||JuoIzumi Holdings (1860)|
Royal Kabuverdianu Pétrole ltd. (1889)
|Founded||Kabuverdianu, Caven, Peregrinia (August 6, 1907)|
Royal Caven Family
|Products||Petroleum, natural gas, LNG, lubricants, petrochemicals, renewable energy|
|Owner||20% Peregrinian government|
5% Royal Caven Family
3% Capital Coalition Worldwide
Royal Kabuverdianu Pétrole
Island Energy Group
Royal Caven Petroleum, one of the largest oil and gas companies on Urth is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, transport, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy activities, including in biofuels, wind, solar, geothermal, hydroelectric, and hydrogen that is operated under Island Energy's REnergy brand.
In the 1720s the Peregrinian government had discovered massive oil reserves in the Izumi mountain range that ran through Peregrinia (Kabuverdianu) Island and Juoi Island after Verlot joined Peregrinia. After Juoi Island joined Peregrinia in 1860 the Peregrinian government funded the formation of JuoIzumi Petrol for the exploration and production, refining, transport, distribution and marketing, petrochemicals, power generation and trading.
In 1889 the Royal Caven Family established their own competing oil and gas company, Royal Kabuverdianu Pétrole, as a way for the family to reduce taxation on the people and to use their available natural resources in the Izumi mountain range. By 1903 the Kingdom of Caven had joined Peregrinia and due to the Caven-Templeton members of the Royal Caven Family's loyalty they were allowed to continue operating their company, keep their royal titles and be provided financial support as long as they supported the sitting Imperial Family of Peregrinia.
In 1907 JuoIzumi Holdings bought Royal Kabuverdianu Pétrole and changed its name to Royal Caven Petroleum.
In 1925 Royal Caven Petroleum purchased Fueln'Go, a chain of convenience stores, that purchased all its fuel from ROYL. It renamed the company to Royal C-Stores and rebanded all their stores and gas stations to ROYAL.
In 1957 Royal C-Stores purchased King's Stop but kept the brand in certain markets but all gas station branding changed to King's Stop with ROYAL fuels.
By 1983 Royal Caven Petroleum decided to diversify by purchasing Island Energy Group that was known for its renewable energy activities and direct to consumer business in Peregrinia, East Gemica Island and Iseul under its REnergy brand.
In 2017, following the annexation of the Kohatu Isles by the Oan Isles in the aftermath of the Kohatu War, the Oan Petroleum Corporation (Oan Oil) entered into a joint venture for the exploration and exploitation of the natural gas and petroleum resources located in the Greater Gemica Natural Gas and Oil Reef which spanned the Territorial waters of the Kohatu Isles and East Gemica (Peregrinia) called Greater Gemica Oil and Gas Plc. The half of Greater Gemica Oil and Gas Plc owned by the Oan government through Oan Oil was transferred to the Kohatu Sovereign Wealth Fund in 2020, leaving Royal Caven Petroleum as the remaining shareholder. Royal Caven Petroleum was enlisted as a partner to develop the natural resources of the reef due to its experience, expertise and capital. Its share is through its contribution of the physical and human capital while Oan Oil paid through a financial capital injection.