Who owns arco oil

The combination of Arco and BP Amoco has been hailed by energy experts as a near-perfect fit with only few areas of overlap to alarm regulators. Arco would bring BP Amoco a leading position in the huge and lucrative California gasoline market. These mergers are part of an oil industry consolidation that is fed by the need to cut costs in the face of 18 months of rock-bottom oil prices brought about by overproduction and falling demand. Two of the largest deals occurred in December, with Exxon Corp.

With Arco spoken for, other mid-sized oil companies become even more vulnerable. Companies such as San Francisco-based Chevron Corp. The company had been based there since , when it relocated to Los Angeles from New York.

Headquarters is now at the downtown Hope Street building that houses its Arco Products subsidiary. Arco employs about 1, there, nearly two-thirds of them at the wells and processing facilities of the vast Prudhoe Bay and other oil fields. Executives in Los Angeles said the merger would likely leave little more than a marketing office in Los Angeles, and some already had mailed out resumes in search of new jobs.

Arco employs about 3, people in Southern California. Tesoro also owns six other refineries, mostly in the West, including one in Martinez in northern California. The company already owns 1, branded retail stations, of which are company-operated under the Tesoro, Shell and USA Gasoline names, and is in the process of taking over the leases of about Arco- and Thrifty-branded stations owned by franchisees.

Those stations are being rebranded USA Gas. The deal also includes three marine terminals, four land storage terminals, over miles of pipeline, including one connected to Los Angeles International Airport, and four product marketing terminals. BP also is selling a co-generation facility, which provides electricity to the Carson refinery, and a plant that upgrades coke from the Carson refinery for use by the aluminum industry.

Scott Dean, a BP spokesman said the company has about 1, employees at the refinery and related businesses. But the company also relies on its portfolio of brand names to help boost its bottom line. For instance, BP gas station customers can also purchase Castrol lubricants, while ampm, Wildbean Cafe, and Petit Bistros sell food and beverages to motorists visiting BP-branded gas stations including Aral.

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We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Business Company Profiles. Key Takeaways BP is a major integrated oil and gas company, which also owns a series of brand names related to its gas station business. Castrol manufactures industrial and automotive lubricants for the international market. BP purchased Amoco, the largest producer of oil and natural gas in the United States.

Wild Bean Cafe operates in conjunction with gas stations in certain foreign countries. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

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