Atlantic Petroleum is an oil company in the Eastern United States headquartered in Philadelphia, and a direct descendant of the Standard Oil Trust. It was also one of the companies that joined Richfield Oil to form ARCO, now part of Tesoro. After failing to get results from ARCO, Atlantic was acquired by Sunoco in 1988.
Video Atlantic Petroleum
Histori
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Atlantic was established as a Atlantic Petroleum Storage Company in 1866 in the oil business which then developed. In 1874, the company, now known as Atlantic Purification, was purchased by John D. Rockefeller and integrated as part of Standard Oil. This acquisition gave Rockefeller a prime presence on the East Coast in his growing empire.
In 1886, after acquiring many other petroleum companies, the Standard Oil Trust organized territories for their companies. The Atlantic region encompasses the entire state of Delaware, southern New Jersey, and the southeastern corner of Pennsylvania, essentially giving the Atlantic an entire area of ​​Philadelphia.
Due to antitrust issues that would ultimately lead to the death of the Trust in 1911, Atlantic absorbed fellow Acme Oil of Pennsylvania Standards and the original Pittsburgh-based Standard Oil in 1892.
Post-Standard Year
As a result of the Sherman Antitrust Act, the Standard Oil Trust is broken down, and Atlantic is one of 11 companies that earn the rights on behalf of the Standards. (Overall, 35 companies formed from the separation, the most important without the right on behalf of the Standard is the Ohio Oil Company, which became the Maron and Southern Feed Oil Company, although various mergers and acquisitions became Pennzoil.) Atlantic rights are statewide Pennsylvania and Delaware, for handing the southern part of New Jersey to the Standard Jersey (then Exxon, now ExxonMobil).
However, like fellow Standard Conoco babies (now ConocoPhillips), Atlantic finds more marketing power with its own name than the Standard (rarely at the time), and refuses the option to use the name. The right on behalf of the Standard in Pennsylvania will be obtained by the newly formed Standard Oil of Pennsylvania, which will be acquired by Exxon in the late 1930s. ExxonMobil still has rights on behalf of the Standards in Pennsylvania and Delaware.
Over the years, the Atlantic will flourish in the US East Coast, primarily through acquisitions.
ARCO Year
Trying to establish a national presence, Atlantic joined the West Coast oil company, Richfield Oil in 1966. This combined company is known as the Atlantic Richfield Company, better known as the acronym as ARCO. Also starting in 1966, especially in the Delaware River region in the suburbs of southeastern Pennsylvania, New Jersey, and Delaware, ARCO sponsors a traffic reporting service called "The ARCO Go Patrol."
While the merger with Richfield and finally rebranding from the station to the ARCO succeeds, it essentially creates a bi-coastal chain company, since there is no presence from the east of the Rocky Mountains to the western Appalachian Mountains (except Western Pennsylvania, because the Atlantic stands out in that state). This was corrected by the purchase of Sinclair Oil in 1969. To remain in compliance with antitrust laws, Eastern Sinclair's assets as well as Atlantic's old assets in the Southeast are sold to BP. The remaining Sinclair service station was rebranded as ARCO.
Awakening and death
Sinclair's former retail operations were in trouble, and ARCO abandoned its national ambitions, withdrawing from a number of states beginning in the mid-1970s. Meanwhile, ARCO began to find success in the old West Coast region in Richfield as a provider of low-cost gasoline. In the early 1980s, ARCO began mixing methanol into its gasoline in the Northeast. Concerns over possible damage to the car fuel system limit consumer acceptance of methanol blends and damage corporate image. Management decided to concentrate on the West Coast market and ARCO sold its Northeastern interests in 1985. Parts were acquired by Shell, especially in New Jersey, but a larger portion fell to a new company controlled by Dutch banker and oil trader John Deuss. The new company revived the Atlantic name, stopped using methanol in its gasoline and launched its own self-service A-Plus brand.
The new Atlantic fought financially, and in 1988 was bought by fellow Philadelphia oil company Sunoco.
Over the next few years, Atlantic was marketed separately from Sunoco as a lower-cost brand, but by the mid-1990s Atlantic stations began to rename Sunoco outlets. The last known Atlantic station, in Chambersburg, Pennsylvania, was renamed Sunoco in 1996. Now Sunoco's company-owned station with Atlantic's long-standing, A-Plus store.
Maps Atlantic Petroleum
Legacy
Many of the remains of the Atlantic still show with Sunoco and ARCO (which in 2000 were acquired by BP and now known as BP West Coast Products, but still use the name ARCO). In addition to a clear reference with ARCO, Sunoco maintains a self-service A-Plus chain because Sunoco does not have its own chain. Since Sunoco sponsorship as "NASCAR Official Fuel", A-Plus is currently "Official NASCAR Dismissal".
In addition, Sunoco still owns the former Atlantic refinery in Philadelphia, and has consolidated it with the former Gulf Oil refinery (obtained by Sunoco from Chevron) adjacent to the old Atlantic refinery. This Sunoco asset has been reorganized as a separate company in which it holds shares but majority owned by Carlyle Group.
See also
- Standard Oil
- ARCO
- Sunoco
- A-Plus
Source of the article : Wikipedia
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