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Gulf Oil was a major global oil company in operation from 1901 to 1985. [1] The eighth-largest American manufacturing company in 1941 and the ninth largest in 1979, ...
Gulf Oil LP is an American oil company formed when Chevron Corporation acquired the naming rights to the Gulf Oil brand in the United States for $13 billion in 1985. [1] [5]By 2010, convenience store chain Cumberland Farms acquired all rights to the brand from Chevron, making it the sole owner and marketer in the country. [2]
Gulf Oil Corporation began operating in Canada in 1942, and two years later formed a Canadian subsidiary called the Canadian Gulf Oil Company. In 1956 Canadian Gulf Oil merged with the British American Oil Company (of which Gulf Oil was the controlling shareholder) and until 1969 operated under the British American name.
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The refinery was constructed by British-American Oil Company in the 1930s to process crude oil imported from Texas. [1] It was shut down by B/A's successor company, Gulf Canada, in 1983. Ultramar Canada purchased the 74,000 b/d capacity facility. [2] refinery from Gulf Canada in 1986 and closed it soon after with the loss of 450 jobs. [3]
To merge the companies, British American issued 8.3 million shares (valued at $55.6 million) to the Gulf Oil Corporation, and then used the money to acquire Canadian Gulf Oil. Gulf Oil held a 59.8 per cent stake in the new merged entity. Recent changes to Canadian tax law allowed buyers to access unused tax write-offs of companies they acquired ...
In 1927, Gulf Oil took control of the concessions that Holmes made years ago. But Gulf Oil was a partner in the Iraq Petroleum Company, which was jointly owned by Royal Dutch — Shell, Anglo-Persian, the Compagnie Française des Pétroles (ancestor of French major TotalEnergies), and "the Near East Development Company", representing the ...
Gulf Oil's crude oil was principally obtained from Nigeria and Kuwait through joint ventures with BP. [5] Crude was shipped to Bantry Bay in Ireland in 312,000 DWT (deadweight ton) ships. The Bantry Bay facility had a storage capacity of one million tonnes. It was commissioned just before the refinery opened at a cost of £13m. [3]