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Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911. The origins of the trust lay in the operations of the Standard Oil Company (Ohio), which had been founded in 1870 by John D. Rockefeller.
ExxonMobil is mostly composed of the Standard Oil Company of New Jersey (Jersey Standard) and the Standard Oil Company of New York (Socony). The two companies partnered on a semi-frequent basis during their infancy before pursuing mergers and acquisitions, with Jersey Standard buying Texas-based Humble Oil and Socony merging with Standard descendant Vacuum Oil to form Socony-Vacuum. [3]
The Standard Oil Company (Ohio) was an American petroleum company that existed from 1870 to 1987. The company, known commonly as Sohio , was founded by John D. Rockefeller . [ 4 ] [ 2 ] It was established as one of the separate entities created after the 1911 breakup.
As such, The History of Standard Oil Company harbors great significance as a standard-bearer of modern investigative journalism. [3] In 1999 a jury under the aegis of the New York University's journalism department selected The History of the Standard Oil Company as the fifth best work of journalism in the United States in the 20th Century. [7]
Standard Oil also has the distinction of being the first billion-dollar company in history. By 1913, Rockefeller's personal fortune had swelled to $900 million — a staggering 3% of the entire U ...
Standard Oil of California and Gulf Oil merged in 1984, [32] which was the largest merger in history at that time. [ 33 ] [ 34 ] To comply with U.S. antitrust law , California Standard divested many of Gulf's operating subsidiaries, and sold some Gulf stations in the eastern United States and a Philadelphia refinery which has since closed.
Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was an American industrialist and a founder of Standard Oil, which was first based in Ohio.He was also a key figure in the development of the Atlantic coast of Florida and founder of the Florida East Coast Railway.
In 1943, it was renamed Sinclair Oil Corporation. [6] Near the beginning of the Great Depression, Sinclair sold the remaining interest in its pipeline subsidiary to Standard Oil Company (Indiana) for US$72.5 million (Standard Oil had purchased a 50% interest in the pipeline subsidiary in 1921). [7]