Shell plc is a British multinational oil and gas company headquartered in London. It is the second largest investor-owned oil and gas company in the world by revenue and among the world's largest companies out of any industry. Shell was formed in 1907 through the merger of the Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom. The company operates in over 70 countries, produces around 3.7 million barrels of oil equivalent per day, and has around 44,000 service stations worldwide. As of 31 December 2019, Shell had total proved reserves of 11.1 billion barrels (1.76×109 m3) of oil equivalent. Shell USA's principal subsidiary in the United States is one of its largest businesses. Shell holds 44% of Raízen, a publicly-listed joint venture with Cosan, which is the third-largest Brazil-based energy company. In addition to the main Shell brand, the company owns the Jiffy Lube, Pennzoil and Quaker State brands.