Britoil was originally a privatised British oil company formed from the nationalised corporation BNOC (British National Oil Corporation) in the early 1980s. It was bought by BP in 1988. Britoil plc is currently a subsidiary of BP based in Aberdeen responsible for a large part of BP's oil and gas exploration in the North Sea. It's profits have been decreasing in recent years, as North Sea oil and gas reserves run down.… (More on Britoil)