BP OIL REFINERY

BP oil refinery

BP oil refinery

British Petrochemical Corporation registered

On April 14, 1909, as the Anglo-Persian Oil Company, Ltd. It was named the Anglo-Iranian Oil Company, Ltd., in 1935 and changed its name to the British Petroleum Company Limited in 1954. The current name was adopted in 1982. The company's headquarters are in London. The Anglo-Persian Oil Company was formed in 1909 to take over and finance an oil-field concession granted in 1901 by the Iranian government to an English investor, William Knox D'Arcy. (Britannica)

In 1914 the British government became the company's principal stockholder and over the years was usually the largest single stockholder. Effective January 1, 1955, British Petroleum became a holding company. In the beginning of the 1977 the British government reduced its ownership of BP by selling shares to the public, and in the late 1980s the government turned over BP entirely too private ownership by selling its remaining shares of the company. In 1987 BP acquired the remainder of the Standard Oil Company for almost $8 billion reinforcing its position as one of the largest oil companies in the world. (bp.com)

Amoco Corporation formerly Standard

Oil Company, American Petroleum Corporation, was founded in 1889 by the Standard Oil trust to direct the refining and marketing of oil in the Midwestern states. The company's first refinery, outside Whiting, Ind., produced fuel oil, kerosene, and other petroleum products. Around 1910 Standard Oil developed the cracking process, which became the most important method for producing gasoline from petroleum. In 1911 the U.S. Supreme Court dissolved the nationwide Standard Oil trust, and Standard Oil (Indiana) became independent. Its headquarters are in Chicago. (Britannica)

In the 1920 Standard Oil acquired Partial interest in companies that owned Midwestern oil fields and pipeline networks in order to add production to its refining and marketing operations.

In the 1950s Standard Oil became active in oil exploration and production ventures in South America and the Middle East. In 1961 most of the company's U.S. operating activities were unified in the American oil company, for which Standard Oil (Indiana) served as a holding company. The byname Amoco was increasingly used as a brand and corporate name. In 1985 the Standard Oil Company (Indiana) became officially the Amoco Corporation.

On December 30, 1998, BP and Amoco confirmed that the US Federal Trade Commission (FTC) has granted regulatory approval for the merger of the two companies and that completion of the deal will take place at year-end. Both companies agreed to intend to close the transaction shortly after 2100 hours London time on December 31, 1998, when Amoco's stock will leave the Standard & Poor 500 and the shares of the merged group, BP Amoco p.l.c., will be listed on the London Stock Exchange. With a market capitalization of more than $140 billion, BP Amoco p.l.c. is the Britain's biggest company and one of the world's top three oil majors.

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