American Oil Company
| Amoco Oil Corporation (AMOCO) | |
|---|---|
| legal form | Corporation |
| founding | 1889 |
| resolution | 1998 |
| Seat | Chicago , USA |
| Branch | oil |
Amoco is the abbreviated name of the Am erican O il co mpany, the former third-largest oil company in the world.
The Amoco Oil Corporation was founded in 1889 by John D. Rockefeller as part of the Standard Oil Company , which was broken up in 1911 because of antitrust concerns. Amoco was initially called Standard Oil of Indiana , which was just the name of the fuel sales business .
In 1998 , Amoco merged with British Petroleum to form BP Amoco, which was later renamed BP again because the BP brand was already known.
history
A few years after it was founded in 1889 by John D. Rockefeller, the decision was made to specialize in the sale of petrol in 1910 due to the increasing popularity of the automobile.
When it was founded, Amoco was still part of the Standard Oil Trust , which was smashed by the Supreme Court in 1911 ( Sherman Antitrust Act ). As an independent company, Amoco was able to achieve an 88% market share in gasoline and petroleum sales in the American Midwest . In 1912 , the first gas station opened in Minneapolis , Minnesota .
In the 1920s and 1930s , Amoco opened additional oil refineries and production facilities in response to increasing demand . In 1937 alone, more than 1,000 oil wells were drilled.
During the Second World War , Amoco not only participated in the fuel supply for the Army and Air Force, but also developed a more effective method of producing TNT in the newly established chemical departments ( Pan American Chemicals Company and Indoil Chemical Company ) .
In the late 1940s , Amoco focused on national oil production and in 1947 was the first company to produce off-shore oil fields in the Gulf of Mexico . With the establishment of a funding office in Canada, Amoco became an international company.
In 1960 , Amoco was able to develop a process for producing PTA (para-phthalic acid) in its chemical department. In order to produce plastics ( polyester ) from it, Amoco acquired the Avisun Corporation and Patchogue-Plymouth , which from then on operated under the name Amoco Fabrics and Fibers Company .
Over the next few decades, Amoco grew primarily through additional factories and conveyor systems in more than 30 countries, including Great Britain , Belgium , Brazil , Mexico , South Korea , Taiwan , Norway , Venezuela , Russia , the People's Republic of China , Trinidad and Tobago , and Egypt and became one of the largest oil companies in the world.
The name Amoco became known in Europe through the wreck of the tanker Amoco Cadiz off the coast of Brittany on March 16, 1978 . Considerable amounts of crude oil ended up in the sea and led to massive environmental damage on the Atlantic coast of Brittany .
On August 11, 1998, Amoco announced the merger with British Petroleum , the largest merger between two industrial companies at the time. Amoco petrol stations can now be found under the BP brand . BP hired 9,900 new employees the following year.
Web links
- History of Amoco (English)