Bp-Amoco Merger

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Chapter-1 Company Profiles before Merger 1.1 British Petroleum Company British Petroleum Company (BP) is a British multinational oil and gas company. It is the third-largest energy company and fourth-largest company in the world. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy activities in biofuels and wind power. BP has operations in over 80 countries, produces around 3.4 million barrels of oil equivalent per day and has around 21,800 service stations worldwide. BP at a glance: Industry | Oil and gas | Founded | 1909 | Type…show more content…
Rockefeller. Standard Oil of Indiana, as the company was officially known for many years, took shape in 1899. Initially it consisted of a single facility outside Whiting, Indiana, which refined oil intro products that people and business needed: axle grease for industrial machinery, paraffin wax for candles, and kerosene for home lighting. The company grew. By the early 1900s it was the leading provider of kerosene and gasoline in the Midwest. Kerosene sales would eventually falter. But with car ownership booming across the United States, demand for gasoline would only go up and up. The first Amoco service station opened in Minneapolis, Minnesota, in 1912. Those were heady days for the company. Rockefeller’s Standard Oil Trust had been broken up the previous year, meaning that Amoco had to stand on its own feet. Two company scientists registered a patent for a process they had invented called thermal cracking. It doubled the amount of gasoline that could be made from a barrel of oil and also boosted the gasoline’s octane rating. The process became standard practice in the refining industry, and it was credited with averting a gasoline shortage during the First World War. In the 1920s, the company decided to secure its own sources of crude oil. It established an exploration and production business, Stanolind, with plans to look for oil mainly in the United States. In 1930 Stanolind crews found what they

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