American oil & gas stock marketwatch

American oil & gas stock marketwatch

Posted: averichevigor Date: 09.07.2017

Amoco Corporation , originally Standard Oil Company Indiana , was a global chemical and oil company that was founded in around a refinery located in Whiting, Indiana , United States. It later absorbed the American Oil Company , founded in Baltimore in and incorporated in by Louis Blaustein and his son Jacob. Amoco merged with British Petroleum in December , forming BP Amoco. Shortly after the merger, Amoco stations began a rebranding that saw the stations change their names to the BP marque while continuing to sell Amoco-branded fuel.

Eventually all traces of the Amoco brand name were eliminated and the stations adopted the BP branding permanently, although Amoco's grade naming system is still in use.

The firm's innovations included two essential parts of the modern industry, the gasoline tanker truck and the drive-through filling station. Standard Oil Indiana was formed in by John D. Rockefeller as part of the Standard Oil trust. In , with the rise in popularity of the automobile , Indiana Standard decided to specialize in providing gasoline to consumers.

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In it opened its first gas service station in Minneapolis, Minnesota. When the Standard Oil Trust was broken up in , Indiana Standard was assigned marketing territory covering most of the Midwestern United States, including Indiana , Michigan , Illinois , Wisconsin , Minnesota , North Dakota , South Dakota , Iowa , Kansas , and Missouri.

It had the exclusive rights to use the Standard name in the region. It purchased the Dixie Oil Company of Louisiana in and began investing in other oil companies outside its Standard marketing territory. Blaustein incorporated his business as the American Oil Co. Before this deal, Amoco was forced to depend on Standard Oil of New Jersey , a competitor, for its supplies. Standard Oil of Indiana acquired Pan American in , beginning John D.

Rockefeller 's association with the Amoco name. In the s and s Indiana Standard opened up dozens more refining and oil-drilling facilities.

Combined with a new oil-refining process, Indiana Standard created its exploration and production business, Stanolind, in In the following years, a period of intense exploration and search for oil-rich fields ensued; the company drilled over wells in alone.

In , Indiana Standard bought a half interest in the Sinclair Pipeline Company , a subsidiary of Sinclair Oil Corporation , [4] which owned a network of crude oil pipelines in the midwestern United States. In , it bought a stake in the Pan American Petroleum and Transport Company PAT.

The acquired company had previously bought a half interest in the American Oil Company, which marketed half of PAT's oil in the United States. Indiana Standard raised its stake in PAT to 81 percent by In , Stanolind completed its acquisition of Sinclair Pipeline and also acquired the Sinclair Crude Oil Purchasing Company.

All of the pipeline companies were consolidated into the newly formed Stanolind Pipeline Company. The crude oil purchasing operations became Stanolind Crude Oil Purchasing Company. In , all of the corporation's pipeline activities were merged into a single entity, which was named Service Pipeline Company. While most oil companies were switching to leaded gasolines en masse during the mid-to-late s, American Oil chose to continue marketing its premium-grade "Amoco-Gas" later Amoco Super-Premium as a lead-free gasoline by using aromatics rather than tetraethyllead to increase octane levels, decades before the environmental movement of the early s led to more stringent auto-emission controls which ultimately mandated the universal phase out of leaded gasoline.

The "Amoco" lead-free gasoline was sold at American's stations in the eastern and southern U. Lead-free Amoco was introduced in the Indiana Standard marketing area in World War II followed this period of exploration; Indiana Standard participated in the war effort, discovering new means of refinement and even a way of producing TNT more quickly and easily. In addition, Indiana Standard significantly contributed to the aviation and land gasoline needed for the Allied armies.

Also, during the war Indiana Standard created its chemical division, formed from the merger of the Pan American Chemicals Company and the Indoil Chemical Company. In the late s, after World War II, Indiana Standard returned to focusing on domestic oil refinement and advancement. In Indiana Standard was the first company to drill off-shore, in the Gulf of Mexico , and in Stanolind Oil invented Hydrafrac , a hydraulic well fracturing process that increased oil production worldwide.

Initially the Hydrafrac process was licensed exclusively to Halliburton. By , Standard Oil of Indiana was ranked as the largest domestic oil company. In , Indiana Standard reorganized its marketing giving its American Oil Company unit responsibility for its retail operations nationwide under the Standard name inside the Indiana Standard marketing area Colorado, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Wisconsin and Wyoming and under the American name outside that region.

Both brands shared the same redesigned torch and oval logo for easy identification nationwide. The Utoco name used in Indiana Standard's southwestern region was replaced by the American name.

The Amoco name continued to be used outside the U. Soon after, the company began to expand. With an exploration office in Canada , Indiana Standard was now an international gas company.

Indiana Standard created several new plants and claimed various new oil fields in this time period, as the company prospered in the post-war boom.

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By , all the divisions of Indiana Standard bore the Amoco name including American Oil which was renamed Amoco Oil with American stations renamed Amoco stations. By , Amoco began phasing in the Amoco name in the old Indiana Standard sales territory.

Standard Oil Company Indiana was officially renamed Amoco Corporation in In the late s and early s, Indiana Standard again led the way with scientific and technological discoveries.

Indiana Standard discovered PTA , a chemical for polyester fiber production. In , following that discovery, Indiana Standard acquired the Avisun Corporation and Patchogue-Plymouth , forming the Amoco Fabrics and Fibers Company. In the following decades, Amoco expanded globally, creating plants, oil wells , or markets in over 30 countries, including Italy , Australia , Britain , Belgium , Brazil , Argentina , Mexico , South Korea , Taiwan , Norway , Venezuela , Russia , China , Trinidad and Tobago , and Egypt.

In addition, the company also acquired a division of Tenneco Oil Company and Dome Petroleum Limited , becoming one of the world's largest oil companies.

The American Freeway Patrol cruised the freeways and assisted disabled motorists free of charge, and provided helicopter traffic reports for local radio stations which was groundbreaking at the time.

Don Langford, with KFWB AM Los Angeles, joined the American Freeway Patrol, San Diego, as traffic reporter on KOGO-AM - FM , KSON AM , KITT FM San Diego, and KMLO AM Vista. In Amoco under the " Standard " name sponsored the Barney Oldfield Speedway attraction at Marriott's Great America theme park in Gurnee , Illinois. Although the sponsorship deal ended when Marriott sold the park to Six Flags in , the Standard logo can still be seen on all of the Barney Oldfield Speedway now Great America Raceway cars.

Andretti provided great publicity for Amoco by winning races at Phoenix and Cleveland that year, part of his 52 career IndyCar wins.

Andretti also appeared in Amoco television commercials that aired in local race markets as part of the IndyCar sponsorship campaign. Dave Blaney drove a 93 Pontiac Grand Prix under Amoco sponsorship at the NASCAR Cup Series from until the brand's demise in August 27, , saw an explosion at the oil refinery in Whiting , Indiana, that caused catastrophic damage, and continued to burn for eight days.

Researchers who conducted a three-year study of the cancer cluster determined that the cancer cases were workplace-related, but they could not identify the source of the workers' ailments.

In June , BP demolished Building , where the employees had worked. According to a company spokesperson, the building was "underused", and "required upgrades the company deemed too expensive. On August 11, , Amoco announced it would merge with British Petroleum BP in the world's largest industrial merger. Originally, the plan was for all US BP service stations to be converted to Amoco while all overseas Amoco service stations were to be converted to BP.

But by , BP announced that all Amoco service stations would either be closed or renamed to BP service stations, including the remaining stations still bearing the "Standard" name. BP also chose to brand its gasolines with the Amoco name, changing its midgrade and premium offerings to the Silver and Ultimate brandings that Amoco used. By , the "Amoco Fuels" brand had been mostly discontinued in favor of "BP Gasoline with Invigorate.

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In addition, few BP stations continue operation under the Amoco name. Most were either converted to BP, demolished and replaced with BP-style stations, abandoned, or switched to competitor brands. On April 1, in Mississippi Chevron purchased some BP gas stations which were Amoco, to convert them to the Texaco brand.

In the aftermath of the Deepwater Horizon oil spill in the Gulf of Mexico, there were reports in the press that BP was reconsidering rebranding itself as Amoco in the US. The first Indiana Standard logo was unveiled in after a competition. The logo featured a circle, representing strength, stability, and dependability, with the words "Standard Oil Company Indiana " in red.

The inner circle represents the cycle of service to customers.

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The word Service was written in the inside of the circles. In addition, the logo also had a torch with a flame, symbolizing progress. This logo appeared on gas station buildings.

The roadside sign was a blue rectangle saying "STANDARD SERVICE" in white block letters. Concurrently, American Oil introduced in a logo which was the first to bear the name "Amoco". It featured an ellipse divided into three sections horizontally; the top and bottom were red, and the middle had a black background with white lettering. This logo was used in the northeastern U. A new logo was developed by Indiana Standard and introduced in It combined the Standard torch with the Amoco oval.

The oval colors were, from top to bottom, red, white, and blue. In parts of the country where the company could not use the name "Standard", the logo read "Utoco" or "Pan-Am". When the "Pan-Am" name was replaced by "Amoco", it marked the first time the torch and oval was used with the Amoco name. The red and black logo continued to be used in the northeast and maps distributed by Amoco in the late s through showed both logos.

In , the torch and oval was redesigned with a flatter oval and a more contemporary torch design with the logo bearing the Standard or American name in the U. The next updated logo in enhanced the previous one.

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It featured a blue bottom and a sleeker-looking torch. In addition, the word "Standard" became italicized and thicker. This was used by Midwestern station owners who had the option of using the Amoco name more familiar in the East and South or using the more familiar Standard name.

Owners used it up until they were converted to BP or another brand. The final Amoco logo simply changed the name on the logo to "Amoco". The logo featured the familiar torch and divided ellipse. Currently, BP still employs the Amoco name, albeit under another logo. BP currently uses the logo under the main BP helios logo. The italicized word "Amoco" is shown after red, white, and blue horizontal stripes, taken from the divided ellipse of the former Amoco logo.

This logo existed prior to the acquisition, and was used primarily on pumps and service station canopies. Since the merger, the black background has been replaced with green, to symbolize the new parent company. Although a few Amoco stations still use their former logo, most have since been converted to the BP livery.

Louis, Missouri , the largest Amoco sign in the world , both before and after the company's demise, still stands.

It stands at the intersection of Clayton Road, Skinker Boulevard, McCausland Avenue, and Interstate It is visible up to two miles away on the interstate. Most surviving Amoco stations are kept so BP can continue holding the trademarks for Amoco and Standard.

In May , United States BP stations mostly discontinued use of the "Amoco Fuels" logo as BP introduced its new brand of fuel, "BP Gasoline with Invigorate". BP still uses the Silver and Ultimate brands for its midgrade and premium gasolines.

From Wikipedia, the free encyclopedia. Not to be confused with AAMCO. The metered gas pump, no-knock gasoline and other innovations followed Louis Blaustein's founding of American Oil Co. Retrieved on March 31, Archived from the original on Weekly List of Actions Taken on Properties. Carlin's Amoco Station" PDF. Virginia Department of Historic Resources. Division of Air and Waste Management - Air Quality Management. BP building gone, but its medical mystery remains.

Chicago Tribune , June 2, Air Alaska Amoco Ampm Aral ARCO Australia BP Connect Britoil Burmah Canada Castrol Iraq National Rosneft Oil fields Amoco Building, Chicago Amoco Building, New Orleans ARCO Tower Atlantis Castrol Technology Centre Deepwater Horizon Helios House Kingsbury Iolair Mad Dog Northstar Richfield Tower Sangachal Sea Quest FPSO Noble Seillean Sullom Voe Sunbury Thunder Horse.

ARCO Arena BP Ford World Rally Team BP National Championships BP Natural World Book Prize BP Pedestrian Bridge BP Portrait Award BP Professor of Organic Chemistry BP Top 8 BP Ultimate Acropolis Rally. Robert Anderson Sylvia Baca Baron Browne Robert Dudley William Fraser William D'Arcy Tony Hayward Robert Horton Doug Suttles Carl-Henric Svanberg.

Abadan crisis Amoco Milford Haven Deepwater Horizon explosion Deepwater Horizon spill Invasion of Iran Iranian coup Torrey Canyon oil spill Prudhoe Bay spill Texas City explosion.

Anglo-Persian Oil Company BP America Production Co. Burton BP Structure Burmah Oil Co. Retrieved from " https: Amoco establishments in Indiana disestablishments in Illinois Automotive fuel brands Former BP subsidiaries Companies established in Companies disestablished in Defunct companies based in Chicago Defunct oil companies of the United States Gas stations in the United States Natural gas companies of the United States Oil pipeline companies Standard Oil.

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Amoco Building now Aon Center Chicago, Illinois , U.

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