Britoil was originally a privatised British oil company operating in the North Sea. It was once a constituent of the FTSE 100 Index. History The Company was originally formed in 1975 as the British National Oil Corporation (BNOC), a nationalised body, under the Petroleum & Submarine Pipe-lines Act 1975. Its objective was to maintain adequate oil supply levels. The business of BNOC was transferred to the new Company Britoil in August 1982. Shares in the Company were then issued on the London Sto… (More on Britoil)