1982 OPEC’s first quotas

1984 Gulf Oil acquired by Chevron after a bidding war with Arco

1986 Oil price collapse. Chernobyl nuclear power plant accident

1986-87 “Tanker War” between Iran and Iraq destroys oil tankers in Persian Gulf

1989 Cease fire in Iran-Iraq War. March: Exxon Valdez runs aground in Alaska

1990 August: Iraq invades Kuwait, UN embargo on Iraq

1991 January: Gulf War. November: Soviet Union collapses

1995 UN resolution to allow partial resumption of Iraq oil exports in “oil for food” deal

1997 Qatar inaugurates the world’s first significant liquid natural gas (LNG) exporting facility. Kyoto Agreement proposed to limit greenhouse gases

1998 Asian economic crisis. 50-year moratorium on mining and oil exploration in Antarctica approved

Source: Energy Intelligence