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Gulf Oil

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Gulf Oil
TypePublic (until 1984)
IndustryPetroleum
FoundedMay 1901 in Pittsburgh, U.S.[1]
DefunctMarch 15, 1985; 37 years ago (1985-03-15)
FateMerged with Standard Oil Company of California and rebranded as Chevron Corporation,[2] becoming a brand; relaunched in 1986
SuccessorGulf Oil International
Gulf Oil LP
HeadquartersPittsburgh,
U.S.
ProductsFuels, lubricants, greases

Gulf Oil was a major global oil company in operation from 1901 to 1985.[3] The eighth-largest American manufacturing company in 1941 and the ninth-largest in 1979, Gulf Oil was one of the so-called Seven Sisters oil companies. Prior to its merger with Standard Oil of California, Gulf was one of the chief instruments of the Mellon family fortune; both Gulf and Mellon Financial had their headquarters in Pittsburgh, with Gulf's headquarters, the Gulf Tower, being Pittsburgh's tallest building until the completion of the U.S. Steel Tower.

Gulf Oil Corporation (GOC) ceased to exist as an independent company in 1985, when it merged with Standard Oil of California (SOCAL), with both re-branding as Chevron in the United States. Gulf Canada, Gulf's main Canadian subsidiary, was sold the same year with retail outlets to Ultramar and Petro-Canada and what became Gulf Canada Resources to Olympia & York.[4][5] However, the Gulf brand name and a number of the constituent business divisions of GOC survived. Gulf has experienced a significant revival since 1990, emerging as a flexible network of allied business interests based on partnerships, franchises and agencies.

Gulf, in its present incarnation, is a "new economy" business. It employs very few people directly and its assets are mainly in the form of intellectual property: brands, product specifications and scientific expertise. The rights to the brand in the United States are owned by Gulf Oil Limited Partnership (GOLC), which operates over 2,100 service stations and several petroleum terminals; it is headquartered in Wellesley, Massachusetts. The corporate vehicle at the center of the Gulf network outside the United States, Spain and Portugal is Gulf Oil International, a company owned by the Hinduja Group. The company's focus is primarily in the provision of downstream products and services to a mass market through joint ventures, strategic alliances, licensing agreements, and distribution arrangement.[6] In Spain and Portugal, the Gulf brand is now owned by TotalEnergies.[7]

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Chevron Corporation

Chevron Corporation

Chevron Corporation is an American multinational energy corporation predominantly in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California, it is headquartered in San Ramon, California, and active in more than 180 countries. Within oil and gas, Chevron is vertical integrated and is involved in hydrocarbon exploration, production, refining, marketing and transport, chemicals manufacturing and sales, and power generation.

Mellon family

Mellon family

The Mellon family is a wealthy and influential American family from Pittsburgh, Pennsylvania. The family includes Andrew Mellon, one of the longest-serving U.S. Treasury Secretaries, along with prominent members in the judicial, banking, financial, business, and political professions, as well as a famous recluse, Cordelia Scaife May.

Mellon Financial

Mellon Financial

Mellon Financial Corporation was an investment firm which was once one of the world's largest money management firms. Based in Pittsburgh, Pennsylvania, it was in the business of institutional and high-net-worth individual asset management, including the Dreyfus family of mutual funds, business banking, and shareholder and investor services. On December 4, 2006, it announced a merger agreement with Bank of New York, to form BNY Mellon. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007.

Gulf Tower

Gulf Tower

The Gulf Tower is a 44-story, 177.4 m (582 ft) Art Deco skyscraper in downtown Pittsburgh, Pennsylvania. The tower is one of the major distinctive and recognizable features of the city and is named for the Gulf Oil Corporation, one of the leading multinational oil companies of its time, and one of the Seven Sisters of the Anglo-American oil industry prior to its merger with fellow oil giant Chevron.

Gulf Canada

Gulf Canada

Gulf Canada was a Canadian integrated petroleum company that existed between 1944 and 2001. 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 and until 1969 operated under the British American name. In 1969 British American amalgamated with its subsidiaries into a new company called Gulf Oil Canada Limited.

Petro-Canada

Petro-Canada

Petro-Canada commonly known as Petro-Can it is a retail and wholesale marketing brand subsidiary of Suncor Energy. Until 1991, it was a federal Crown corporation. In August 2009, Petro-Canada merged with Suncor Energy, with Suncor shareholders receiving approximately 60 percent ownership of the combined company and Petro-Canada shareholders receiving approximately 40 percent. The company retained the Suncor Energy name for the merged corporation and its upstream operations. It continues to use the Petro-Canada name nationwide.

Olympia and York

Olympia and York

Olympia & York was a major international property development firm based in Toronto, Canada. The firm built major financial office complexes including Canary Wharf in London, the World Financial Center in New York City, and First Canadian Place in Toronto. It went bankrupt in the early 1990s and was recreated to eventually become Olympia & York Properties.

New economy

New economy

The New Economy refers to the ongoing development of the American economic system. It evolved from the notions of the classical economy via the transition from a manufacturing-based economy to a service-based economy, and has been driven by new technology and innovations. This popular use of the term emerged during the dot-com bubble of the late 1990s, where high growth, low inflation, and high employment of this period led to optimistic predictions and flawed business plans.

Intellectual property

Intellectual property

Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The best-known types are patents, copyrights, trademarks, and trade secrets. The modern concept of intellectual property developed in England in the 17th and 18th centuries. The term "intellectual property" began to be used in the 19th century, though it was not until the late 20th century that intellectual property became commonplace in the majority of the world's legal systems.

Gulf Oil LP

Gulf Oil LP

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.

Massachusetts

Massachusetts

Massachusetts, officially the Commonwealth of Massachusetts, is the most populous state in the New England region of the Northeastern United States, exceeding 7 million residents at the 2020 United States census, its highest decennial count ever. The state borders the Atlantic Ocean and Gulf of Maine to its east, Connecticut and Rhode Island to its south, New Hampshire and Vermont to its north, and New York to its west. Massachusetts is the 6th smallest state by land area but is the 15th most populous state and the 3rd most densely populated, after New Jersey and Rhode Island. The state's capital and most populous city, as well as its cultural and financial center, is Boston. Massachusetts is also home to the urban core of Greater Boston, the largest metropolitan area in New England and a region profoundly influential upon American history, academia, and the research economy. Originally dependent on agriculture, fishing, and trade, Massachusetts was transformed into a manufacturing center during the Industrial Revolution. During the 20th century, Massachusetts's economy shifted from manufacturing to services. Modern Massachusetts is a global leader in biotechnology, engineering, higher education, finance, and maritime trade.

Hinduja Group

Hinduja Group

Hinduja Group is an Indian transnational conglomerate. The group is present in eleven sectors including automotive, oil and specialty chemicals, banking and finance, IT and ITeS, cyber security, healthcare, trading, infrastructure project development, media and entertainment, power, and real estate. The Hinduja brothers have around US$100 billion of assets around the world. The Hinduja family has around US$50 billion of assets in America. The current (2022) net worth of the Hinduja brothers is US$32 billion.

History

1901–1982

Early Gulf logo c. 1920
Early Gulf logo c. 1920

The business that became Gulf Oil started in 1901 with the discovery of oil at Spindletop near Beaumont, Texas. A group of investors came together to promote the development of a modern refinery at nearby Port Arthur to process the oil. The largest investors were Andrew Mellon and William Larimer Mellon Sr., of the Pittsburgh Mellon family. Other investors included many of Mellon's Pennsylvania clients as well as some Texas wildcatters. Mellon Bank and Gulf Oil remained closely associated thereafter. The Gulf Oil Corporation itself was formed in 1907 through the amalgamation of a number of oil businesses, principally the J.M. Guffey Petroleum Company, Gulf Pipeline Company, and Gulf Refining companies of Texas.[8][9][10] The name of the company refers to the Gulf of Mexico where Beaumont lies.[11]

1922 newspaper ad for a new Gulf station in Philadelphia, with a close view of the station
1922 newspaper ad for a new Gulf station in Philadelphia, with a close view of the station

Output from Spindletop peaked at around 100,000 barrels per day (16,000 m3/d) just after it was discovered and then started to decline.[12] Later discoveries made 1927 the peak year of Spindletop production,[13] but Spindletop's early decline forced Gulf to seek alternative sources of supply to sustain its substantial investment in refining capacity. This was achieved by constructing the 400-mile (640 km) Glenn Pool pipeline connecting oilfields in Oklahoma with Gulf's refinery at Port Arthur. The pipeline opened in September 1907. Gulf later built a network of pipelines and refineries in the eastern and southern United States, requiring heavy capital investment. Thus, Gulf Oil provided Mellon Bank with a secure vehicle for investing in the oil sector.[14]

Gulf promoted the concept of branded product sales by selling gasoline in containers and from pumps marked with a distinctive orange disc logo. A customer buying Gulf-branded gasoline could be assured of its quality and consistent standard.[15] (In the early 20th century, non-branded gasoline in the United States was often contaminated or of unreliable quality).

Gulf Oil grew steadily in the inter-war years, with its activities mainly confined to the United States. The company was characterized by its vertically integrated business activities, and was active across the whole spectrum of the oil industry: exploration, production, transport, refining and marketing. It also involved itself in associated industries such as petrochemicals and automobile component manufacturing. It introduced significant commercial and technical innovations, including the first drive-in service station (1913), complimentary road maps, drilling over water at Ferry Lake, and the catalytic cracking refining process (Gulf installed the world's first commercial catalytic cracking unit at its Port Arthur, Texas, refinery complex in 1951). Gulf also established the model for the integrated, international "oil major", which refers to one of a group of very large companies that assumed influential and sensitive positions in the countries in which they operated. In 1924 had acquired the Venezuelan-American Creole Syndicate's leases in the strip of shallow water 1.5 kilometres (0.93 mi) wide along the Lake Maracaibo east shore.

In Colombia, Gulf purchased the Barco oil concession in 1926.[16] The government of Colombia revoked the concession the same year, but after much negotiation Gulf won it back in 1931. However, during a period of over-capacity, Gulf was more interested in holding the reserve than developing it.[17] In 1936 Gulf sold Barco to the Texas Corporation, now Texaco, and they would eventually all merge as Chevron.[18]

Gulf had extensive exploration and production operations in the Gulf of Mexico, Canada, and Kuwait. The company played a major role in the early development of oil production in Kuwait, and through the 1950s and '60s apparently enjoyed a "special relationship" with the Kuwaiti government.[19] This special relationship attracted unfavorable attention since it was associated with "political contributions" (see below) and support for anti-democratic politics, as evidenced by papers taken from the body of a Gulf executive killed in the crash of a TWA aircraft at Cairo in 1950.[20]

Gulf filling station in Jasper, Tennessee, 1939
Gulf filling station in Jasper, Tennessee, 1939

In 1934, the Kuwait Oil Company (KOC) was formed as a joint venture by British Petroleum, then called the Anglo-Persian Oil Company (APOC), and Gulf. Both APOC and Gulf held equal shares in the venture.[21] KOC pioneered the exploration for oil in Kuwait during the late 1930s. Oil was discovered at Burgan in 1938 but it was not until 1946 that the first crude oil was shipped. Oil production started from Rawdhatain in 1955 and Minagish in 1959. KOC started gas production in 1964. It was the cheap oil and gas being shipped from Kuwait that formed the economic basis for Gulf's diverse petroleum sector operations in Europe, the Mediterranean, Africa, and the Indian subcontinent. These last operations were coordinated by Gulf Oil Company, Eastern Hemisphere Ltd (GOCEH) from their offices at 2 Portman Street in London W1. While serving as General Manager and Vice President of Gulf Oil, Willard F. Jones facilitated the expansion of crude oil import from Kuwait, a nation that was - at the time - a yet incipient supply region to the United States. This expansion program implemented by Robert E. Garret and Jones consisted of construction of a fleet of supertankers and was meant to "result in a sharp increase in the processing of crude oil and various petroleum products at a time when the domestic demand for (such) products (was) at an unprecedented peak."[22]

Gulf Oil's Port Arthur, Texas, refinery, alkylation area, 1956)
Gulf Oil's Port Arthur, Texas, refinery, alkylation area, 1956)

Gulf expanded on a worldwide basis from the end of the Second World War. The company leveraged its international drilling experience to other areas of the world, and by mid-1943 had established a presence in the eastern oil fields of Venezuela as Mene Grande Oil Company. Much of the company's retail sales expansion was through the acquisition of privately owned chains of filling stations in various countries, allowing Gulf outlets to sell product (sometimes through "matching" arrangements) from the oil that it was "lifting" in Canada, the Gulf of Mexico, Kuwait, and Venezuela. Some of these acquisitions were to prove less than resilient in the face of economic and political developments from the 1970s on. Gulf invested heavily in product technology and developed many specialty products, particularly for application in the maritime and aviation engineering sectors. It was particularly noted for its range of lubricants and greases.[23]

Gulf and ARCO tank farms and tanker docks, Port of Philadelphia, 1973
Gulf and ARCO tank farms and tanker docks, Port of Philadelphia, 1973

Gulf Oil reached the peak of its development around 1970. In that year, the company processed 1.3 million barrels (210,000 m3) of crude daily, held assets worth $6.5 billion ($45.36 billion today), employed 58,000 employees worldwide, and was owned by 163,000 shareholders.[24] In addition to its petroleum marketing interests, Gulf was a major producer of petrochemicals, plastics, and agricultural chemicals. Through its subsidiary, Gulf General Atomic Inc., it was also active in the nuclear energy sector.[25] Gulf abandoned its involvement in the nuclear sector after a failed deal to build atomic power plants in Romania in the mid-1970s.

In 1974, the Kuwait National Assembly took a 60 percent stake in the equity of KOC with the remaining 40 percent divided equally between BP and Gulf. The Kuwaitis took over the rest of the equity in 1975, giving them full ownership of KOC. This meant that Gulf (EH) had to start supplying its downstream operations in Europe with crude bought on the world market at commercial prices.[26] The whole GOC(EH) edifice now became highly marginal in an economic sense. Many of the marketing companies that Gulf had established in Europe were never truly viable on a stand-alone basis. In 1976 during the nationalization of Venezuelan oil, the transfer of properties, benefits, equipment of Gulf Oil to PDVSA was carried out without any setback and with full satisfaction on both parts.

Gulf was at the forefront of various projects in the late 1960s intended to adjust the world oil industry to developments of the time including closure of the Suez Canal after the 1967 war. In particular, Gulf undertook the construction of deep water terminals at Bantry Bay in Ireland and Okinawa in Japan capable of handling Ultra Large Crude Carrier (ULCC) vessels serving the European and Asian markets respectively. In 1968, the Universe Ireland was added to Gulf's tanker fleet. At 312,000 long tons deadweight (DWT), this was the largest vessel in the world and incapable of berthing at most normal ports.[27]

Gulf also participated in a partnership with other majors, including Texaco, to build the Pembroke Catalytic Cracker refinery at Milford Haven and the associated Mainline Pipelines fuel distribution network. The eventual reopening of the Suez canal and upgrading of the older European oil terminals (Europoort and Marchwood) meant that the financial return from these projects was not all that had been hoped for. The Bantry terminal was devastated by the explosion of a Total tanker, the Betelgeuse, in January 1979 (Whiddy Island disaster) and it was never fully reopened. The Irish government took over ownership of the terminal in 1986 and held its strategic oil reserve there.[28]

In the 1970s, Gulf participated in the development of new oilfields in the UK North Sea and in Cabinda, although these were high-cost operations that never compensated for the loss of Gulf's interest in Kuwait. A mercenary army had to be raised to protect the oil installations in Cabinda during the Angolan civil war.[29] The Angolan connection was another "special relationship" that attracted comment. In the late 1970s, Gulf was effectively funding a Soviet bloc regime in Africa while the US government was attempting to overthrow that regime by supporting the UNITA rebels led by Jonas Savimbi.

Gulf gas station, Kingsland, Georgia, 1979
Gulf gas station, Kingsland, Georgia, 1979

In 1975, several senior Gulf executives, including chairman Bob Dorsey, were implicated in the making of illegal "political contributions" and were forced to step down from their positions.[30] This loss of senior personnel at a critical time in Gulf's fortunes may have had a bearing on the events that followed.[31][32][33][34]

Gulf's operations worldwide were struggling financially in the recession of the early 1980s, so Gulf's management devised the "Big Jobber" strategic realignment in 1981 (along with a program of selective divestments) to maintain viability. The Big Jobber strategy recognized that the day of the integrated, multi-national oil major might be over, since it involved concentrating on those parts of the supply chain where Gulf had a competitive advantage.

Marketing and promotions

In the late 1930s, Gulf's aviation manager, Maj. Alford J. Williams, had the Grumman Aircraft Engineering Corporation construct two modified biplanes, cleaned-up versions of the Grumman F3F Navy fighter, for promotional use by the company. Wearing Gulf Oil company colors and logos, the Grumman G-22 "Gulfhawk II", registered NR1050, was delivered in December 1936, and in 1938 Maj. Williams flew it on a tour of Europe. A second scavenger pump and five drain lines were added to the engine installation that allowed the aircraft to be flown inverted for up to thirty minutes. This aircraft is now preserved in the National Air and Space Museum in Washington, D.C. A second airplane, the Grumman G-32 "Gulfhawk III", registered NC1051, was delivered on May 6, 1938. Impressed by the Army Air Force in November 1942 for use as a VIP transport and designated a UC-103, it crashed in the southern Florida Everglades in early 1943.[35]

Gulf Oil was the primary sponsor for NBC News special events coverage in the 1960s, notably for coverage of the U.S. space program. It also became a sponsor for a program called NBC News Special Report. The logo even appeared on the front cross-shaped desk of every special events and coverage broadcast by the network and it was notably used by Chet Huntley and David Brinkley or the other correspondents since the 1964 Republican National Convention. The company used the connection to its advantage by offering giveaway or promotional items at its stations, including sticker sheets of space mission logos, a paper punch-out lunar module model kit, and a book titled "We Came in Peace," containing pictures of the Apollo 11 moon landing. Gulf was also a major sponsor of Walt Disney's Wonderful World of Color, which also aired on NBC. Disney magazines and activity books were often given away with a gas fill-up. Gulf was also noted for its "Tourgide" road maps.

One particularly memorable Gulf advertisement carried by NBC during their coverage of the Apollo missions showed aerial and onboard views of the Universe Ireland with Tommy Makem and the Clancy Brothers singing "Bringin' Home the Oil" – a tribute to the opening of Gulf's operations in Bantry Bay.[36]

Gulf Oil–sponsored Porsche 917LH raced by Derek Bell & Jo Siffert at the 1971 Le Mans, parked outside the Hotel de France, Wyer's team base
Gulf Oil–sponsored Porsche 917LH raced by Derek Bell & Jo Siffert at the 1971 Le Mans, parked outside the Hotel de France, Wyer's team base

Gulf Oil was most synonymous for its association with auto racing, as it famously sponsored the John Wyer Automotive team in the 1960s and early '70s. The signature light blue and orange color scheme associated with its Ford GT40 and Porsche 917 is one of the most famous corporate racing colors and has been replicated by other racing teams sponsored by Gulf. Much of its popularity is attributed to the fact that in the 1971 film Le Mans, Steve McQueen's character, Michael Delaney, drives for the Gulf team. As a result of McQueen's increasing popularity following his death and the increasing popularity of the Heuer Monaco which he wore in the film, TAG Heuer released a limited edition of the watch with the Gulf logo and trademark color scheme.[37] In the same era, Gulf Oil also sponsored Team McLaren during the Bruce McLaren days, which used a papaya orange color scheme with Gulf blue for lettering.

From 1963 to 1980, Gulf Oil had a formal agreement with Holiday Inn, the world's largest lodging chain, for which Holiday Inns in the U.S. and Canada would accept Gulf credit cards for food and lodging. In return, Gulf placed service stations on the premises of many Holiday Inn properties along major U.S. highways to provide one-stop availability for gasoline, auto service, food and lodging. Many older Holiday Inns still have those original Gulf stations on their properties, some in operation and some closed, but few operate today as Gulf stations.

Gulf No-Nox gasoline was promoted with a bucking horse leaving an imprint of two horseshoes. Several promotions centered on the two horseshoes. In 1966 bright orange 3-D plastic self-adhesive horseshoes for car bumpers were given away. Another popular giveaway was during the 1968 election season, gold horseshoe lapel pins featuring either a Democratic donkey or a Republican elephant.

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Beaumont, Texas

Beaumont, Texas

Beaumont is a coastal city in the U.S. state of Texas. It is the seat of government of Jefferson County, within the Beaumont–Port Arthur metropolitan statistical area, located in Southeast Texas on the Neches River about 85 miles (137 km) east of Houston. With a population of 115,282 at the 2020 census, Beaumont is the largest incorporated municipality by population near the Louisiana border. Its metropolitan area was the 10th largest in Texas in 2019, and 132nd in the United States.

Andrew Mellon

Andrew Mellon

Andrew William Mellon, sometimes A. W. Mellon, was an American banker, businessman, industrialist, philanthropist, art collector, and politician. From the wealthy Mellon family of Pittsburgh, Pennsylvania, he established a vast business empire before moving into politics. He served as United States Secretary of the Treasury from March 9, 1921 to February 12, 1932, presiding over the boom years of the 1920s and the Wall Street crash of 1929. A conservative Republican, Mellon favored policies that reduced taxation and the national debt of the United States in the aftermath of World War I.

Mellon family

Mellon family

The Mellon family is a wealthy and influential American family from Pittsburgh, Pennsylvania. The family includes Andrew Mellon, one of the longest-serving U.S. Treasury Secretaries, along with prominent members in the judicial, banking, financial, business, and political professions, as well as a famous recluse, Cordelia Scaife May.

Mellon Financial

Mellon Financial

Mellon Financial Corporation was an investment firm which was once one of the world's largest money management firms. Based in Pittsburgh, Pennsylvania, it was in the business of institutional and high-net-worth individual asset management, including the Dreyfus family of mutual funds, business banking, and shareholder and investor services. On December 4, 2006, it announced a merger agreement with Bank of New York, to form BNY Mellon. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007.

Gulf of Mexico

Gulf of Mexico

The Gulf of Mexico is an ocean basin and a marginal sea of the Atlantic Ocean, largely surrounded by the North American continent. It is bounded on the northeast, north and northwest by the Gulf Coast of the United States; on the southwest and south by the Mexican states of Tamaulipas, Veracruz, Tabasco, Campeche, Yucatan, and Quintana Roo; and on the southeast by Cuba. The Southern U.S. states of Texas, Louisiana, Mississippi, Alabama, and Florida, which border the Gulf on the north, are often referred to as the "Third Coast" of the United States.

Glenn Pool Oil Reserve

Glenn Pool Oil Reserve

The discovery of the Glenn Pool Oil Reserve in 1905 brought the first major oil pipelines into Oklahoma, and instigated the first large scale oil boom in the state. Located near what was—at the time—the small town of Tulsa, Oklahoma, the resultant establishment of the oil fields in the area contributed greatly to the early growth and success of the city, as Tulsa became the petroleum and transportation center of the state, and the world.

Oklahoma

Oklahoma

Oklahoma is a state in the South Central region of the United States, bordered by Texas on the south and west, Kansas on the north, Missouri on the northeast, Arkansas on the east, New Mexico on the west, and Colorado on the northwest. Partially in the western extreme of the Upland South, it is the 20th-most extensive and the 28th-most populous of the 50 United States. Its residents are known as Oklahomans and its capital and largest city is Oklahoma City.

Petroleum industry

Petroleum industry

The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation, and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. The industry is usually divided into three major components: upstream, midstream, and downstream. Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products.

Extraction of petroleum

Extraction of petroleum

Petroleum is a fossil fuel that can be drawn from beneath the earth's surface. Reservoirs of petroleum are formed through the mixture of plants, algae, and sediments in shallow seas under high pressure. Petroleum is mostly recovered from oil drilling. Seismic surveys and other methods are used to locate oil reservoirs. Oil rigs and oil platforms are used to drill long holes into the earth to create an oil well and extract petroleum. After extraction, oil is refined to make gasoline and other products such as tires and refrigerators. Extraction of petroleum can be dangerous and have led to oil spills.

Petrochemical

Petrochemical

Petrochemicals are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane.

Caddo Lake

Caddo Lake

Caddo Lake is a 25,400-acre (10,300 ha) lake and bayou (wetland) on the border between Texas and Louisiana, in northern Harrison County and southern Marion County in Texas and western Caddo Parish in Louisiana. The lake is named after the Caddoans or Caddo, Native Americans who lived in the area until their expulsion by the United States in the 19th century. The US forced most of them to move west to Indian Territory.

Fluid catalytic cracking

Fluid catalytic cracking

Fluid Catalytic Cracking (FCC) is the conversion process used in petroleum refineries to convert the high-boiling point, high-molecular weight hydrocarbon fractions of petroleum into gasoline, olefinic gases, and other petroleum products. The cracking of petroleum hydrocarbons was originally done by thermal cracking, now virtually replaced by catalytic cracking, which yields greater volumes of high octane rating gasoline; and produces by-product gases, with more carbon-carbon double bonds, that are of greater economic value than the gases produced by thermal cracking.

Demise

By 1980, Gulf exhibited many of the characteristics of a giant corporation that had lost its way. It had a huge but poorly performing asset portfolio, associated with a depressed share price. The stock market value of Gulf started to drop below the break-up value of its assets. Such a situation was bound to attract the interest of corporate raiders, although a corporation in the top 100 of the Fortune 500 was in the early 1980s thought immune to takeover risk.

Its undoing as an independent company began in 1982 when T. Boone Pickens,[38] an Amarillo, Texas, oilman and corporate raider (or greenmailer), and owner of Mesa Petroleum, made an offer for the comparatively larger (but still considered "non-major" oil company) Cities Service Company (more generally known by the name Citgo) from Tulsa, Oklahoma, which was then trading in the low 20s. Pickens first privately offered $45 a share for a friendly takeover and then later made a $50 a share public offer when Cities' CEO rejected the friendly offer.[39] Gulf forestalled Mesa's takeover attempt by offering $63 a share in a friendly offer which Cities (by then trading at $37) accepted.[40] Cities then bought out Pickens for $55 a share. Once Pickens was gone, Gulf reneged on its buyout offer, supposedly over a dispute regarding accuracy of Cities Service's reserves, and the stock price of Cities plunged, triggering stockholder lawsuits as well as distrust for Gulf's management on Wall Street and among financing investment banks who bet big in assisting Gulf to defeat Mesa only to be left broke when Gulf backed out. Cities Service was ultimately sold to Occidental Petroleum, and the retail operations were resold to Southland Corporation, the operators of 7-Eleven stores.[41] Gulf's termination of the Cities Service acquisition resulted in more than 15 years of shareholder litigation against Gulf (and later Chevron).[42]

"Bellwood Gas & Groceries" Gulf petrol station in Fort Defiance, Virginia. Photo by John Margolies, 1982
"Bellwood Gas & Groceries" Gulf petrol station in Fort Defiance, Virginia. Photo by John Margolies, 1982

With declining margins in the industry and left without Citgo's reserves, Mesa and its investor partners kept hunting for a takeover target, only to discover while fighting Gulf for Citgo how increasingly top-heavy its portfolio and declining reserves were undervaluing its overall assets. They subtly but quickly acquired 4.9 percent of Gulf Oil's stock by early fall 1983, just shy of having to declare themselves and their intent at 5 percent to the SEC. In the ten days allowed to prepare the SEC filing, Mesa and its investor partners accelerated buying to 11 percent of the company's stock, larger than the founding Mellon family's share, by October 1983. Gulf responded to Mesa's interest by calling a shareholders' meeting for late November 1983 and subsequently engaged in a proxy war on changing the corporation's by-laws to minimize arbitrage. Pickens made loud criticisms of the existing Gulf management and offered an alternative business plan intended to release shareholder value through a royalty trust that management argued would "slim down" Gulf's market share. Pickens had acquired the reputation of being a corporate raider whose skill lay in making profits out of bidding for companies but without actually acquiring them. During the early 1980s alone, he made failed bids for Cities Service, General American Oil, Gulf, Phillips Petroleum and Unocal. The process of making such bids would promote a frenzy of asset divestiture and debt reduction in the target companies. This is a standard defensive tactic calculated to boost the current share price, although possibly at the expense of long-term strategic advantage. The target shares would rise sharply in price, at which point Pickens would dispose of his interest at a substantial profit.[43]

Gulf management and directors took the view that the Mesa bid represented an undervaluation of the Gulf business as a long-term going concern and that it was not in the interest of Gulf shareholders. James Lee, Gulf's CEO and chairman, even claimed during the November 1983 shareholders meeting to address the Mesa ownership that Pickens' royalty trust idea was nothing more than a "get-rich-quick scheme" that would undermine the corporation's profit potential in the coming decades. Gulf, therefore, sought to resist Pickens by various means, including refiling as a Delaware corporation, voiding the ability of shareholders to cumulatively vote (fearing that Pickens would use his shares to gain control of the board) and listening to offers from Ashland Oil (which would double Gulf's price from its pre-Mesa level), General Electric (two years before it took over the media company NBC/RKO) and finally Chevron to act as its white knight in 1984.[44][45] Gulf divested many of its worldwide operating subsidiaries and then merged with Chevron by the spring of 1985. The Mesa group of investors was reported to have made a profit of $760 million ($1,914.8 million today) when it assigned its Gulf shares to Chevron. Pickens has claimed that after realizing a more than doubling of stock appreciation for Gulf shareholders (as well as its management that fought him at every turn), Mesa's shares were the last to be paid out by Chevron.

The forced merger of Gulf and Chevron was controversial, with the U.S. Senate considering legislation to freeze oil industry mergers for a year—before the Reagan administration made it known it opposed government intervention in the matter and would veto any bill. However, Pickens and Lee (Gulf's CEO) were summoned to testify before the Senate months before the merger was hammered out and the matter was referred to the Federal Trade Commission (FTC). The FTC only approved the deal subject to strict conditions.[46] Never before had a "small operator" successfully taken apart a Fortune 500 corporation, or in Gulf's case a "Fortune 10" corporation. The merger sent even deeper shock waves through the long-time exclusive "Seven Sisters" club of major integrated oil companies that defined themselves as elevated from the "non-major independents". A board member of Exxon even admitted in the mid-1980s that "mostly all we talk about in board meetings anymore is T. Boone Pickens". Chevron, to settle with the government antitrust requirements, sold some Gulf stations and a refinery in the eastern United States to British Petroleum (BP) and Cumberland Farms in 1985 as well as some of the international operations.

The effect on the Pittsburgh area was severe as close to 900 PhD and research jobs and 600 headquarters (accounting, law, clerical) jobs were transferred to California or cut, a payroll of $54 million ($140.8 million today) and corporate charity to 50 Western Pennsylvania organizations worth $2 million/year ($5.2 million/year today).[47] These losses were mitigated some with the donation of Gulf Labs in suburban north Pittsburgh to the University of Pittsburgh to be used as a research business incubator along with $5 million ($12.6 million today) in maintenance and seed money. The "Gulf Labs" research complex consisted of 55 multi-story buildings with 800,000 square feet (74,000 m2) on 85 acres (34 ha) and including several chemical labs, petroleum production and refining areas and even a nuclear laboratory complete with reactor in 1985 and employed close to 2,000 engineers and scientists operating with a $100 million budget ($260.8 million today) from Gulf/Chevron. After its donation, it was renamed the University of Pittsburgh Applied Research Center or U-PARC and opened to small technology, computer and engineering firms as well as graduate level research.

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Corporate raid

Corporate raid

In business, a corporate raid is the process of buying a large stake in a corporation and then using shareholder voting rights to require the company to undertake novel measures designed to increase the share value, generally in opposition to the desires and practices of the corporation's current management. The measures might include replacing top executives, downsizing operations, or liquidating the company.

Amarillo, Texas

Amarillo, Texas

Amarillo is a city in the U.S. state of Texas and the seat of Potter County. It is the 14th-most populous city in Texas and the largest city in the Texas Panhandle. A portion of the city extends into Randall County. The estimated population of Amarillo was 200,393 as of April 1, 2020. The Amarillo-Pampa-Borger combined statistical area had an estimated population of 308,297 as of 2020.

Greenmail

Greenmail

Greenmail or greenmailing is the action of purchasing enough shares in a firm to challenge a firm's leadership with the threat of a hostile takeover to force the target company to buy the purchased shares back at a premium in order to prevent the potential takeover.

Citgo

Citgo

Citgo Petroleum Corporation is a United States–based refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. Headquartered in the Energy Corridor area of Houston, it is majority-owned by PDVSA, a state-owned company of the Venezuelan government.

Occidental Petroleum

Occidental Petroleum

Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States, and the Middle East as well as petrochemical manufacturing in the United States, Canada, and Chile. It is organized in Delaware and headquartered in Houston. The company ranked 183rd on the 2021 Fortune 500 based on its 2020 revenues and 670th on the 2021 Forbes Global 2000.

7-Eleven

7-Eleven

7-Eleven, Inc., stylized as 7-ELEVEn, is a multinational chain of retail convenience stores, headquartered in Dallas, Texas. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. After 70% of the company was acquired by an affiliate Ito-Yokado in 1991, it was reorganized as a wholly owned subsidiary of Seven & I Holdings.

John Margolies

John Margolies

John Samuel Margolies was an architectural critic, photographer, and author who was noted for celebrating vernacular and novelty architecture in the United States, particularly those designed as roadside attractions. Starting from the mid-1970s, he began to photograph sites during long road trips, since he was concerned these sites would be displaced by the growing modernist trend. He was credited with shaping postmodern architecture and recognizing buildings that would be added to the National Register of Historic Places through his documentary work. Starting in 2007, the Library of Congress began to acquire his photographs, and created the public domain John Margolies Roadside America Photograph Archive in 2016, consisting of 11,710 scans of color slides taken by Margolies.

Arbitrage

Arbitrage

In economics and finance, arbitrage is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the market prices at which the unit is traded. When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state; in simple terms, it is the possibility of a risk-free profit after transaction costs. For example, an arbitrage opportunity is present when there is the possibility to instantaneously buy something for a low price and sell it for a higher price.

Get-rich-quick scheme

Get-rich-quick scheme

A get-rich-quick scheme is a plan to obtain high rates of return for a small investment. The term "get rich quick" has been used to describe shady investments since at least the early 20th century.

Delaware General Corporation Law

Delaware General Corporation Law

The Delaware General Corporation Law is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. Adopted in 1899, the statute has since seen Delaware become the most important jurisdiction in United States corporate law. Delaware is considered a corporate haven because of its business-friendly corporate laws compared to most other U.S. states. Over half of publicly traded corporations listed in the New York Stock Exchange and 66% of the Fortune 500, including Walmart, the world's largest company by revenue, are incorporated in the state.

Cumulative voting

Cumulative voting

Cumulative voting is a multiple-winner method intended to promote more proportional representation than winner-take-all elections such as block voting or first past the post. Cumulative voting is used frequently in corporate governance, where it is mandated by some (7) U.S. states (see e.g., Minn. Stat. Sec. 302A.111 subd. 2 .).

General Electric

General Electric

General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston.

Aftermath

BP, Chevron, Cumberland Farms and other companies that acquired former Gulf operations continued to use the Gulf name through the early 1990s. This caused consumer confusion in the US retail market as the parent companies would not accept each other's credit cards. All former Gulf stations franchised by BP and Chevron in the United States have since been converted to those names. Gulf Oil Limited Partnership (GOLP), based in Framingham, Massachusetts, has bought a license for North American rights to the Gulf brand from Chevron. Chevron still owned the Gulf brand, but was making almost no direct use of it. In January 2010, GOLP bought the entire brand from Chevron and began a nationwide expansion campaign. GOLP operates a distribution network reaching from Maine to Ohio. Most Gulf-branded filling stations in North America are owned by Cumberland Farms of Framingham, which owns a two-thirds interest in GOLP.[48] In addition there are some independently owned franchises still operating under the Gulf brand within North America, such as Nu-Tier Brands, Inc., which is licensed by GOLP to blend and distribute Gulf-branded lubricants.

A Gulf-branded filling station sign in Brancaster Staithe, United Kingdom, pictured in May 2021
A Gulf-branded filling station sign in Brancaster Staithe, United Kingdom, pictured in May 2021

Gulf Oil International (GOI)[49] owns the rights to the Gulf brand outside the United States, Spain & Portugal. It is now owned by the Hinduja Group.[50] After they acquired a large share from the Taher family, a major Saudi Arabian family led by Dr. Abdulhadi H. Taher (former governor of the Saudi Petroleum and Mineral organization and board member of Aramco). GOI trades mainly in lubricants, oils, and greases. GOI is also involved in franchising the Gulf brand to operators in the petroleum and automotive sectors; Gulf-branded filling stations can be found in several countries including the UK, Belgium, Germany, Ireland, Slovakia, Czechia, the Netherlands, Jordan, Finland and Turkey. GOI has direct and indirect interests in a number of businesses that use the Gulf brand under license.

The Canadian exploration, production, and distribution arm of Gulf Oil was sold to Olympia and York in 1985. From 1992 it continued as an independent oil company (Gulf Canada Resources) until its acquisition by Conoco in 2002.[51]

Most Gulf downstream operations in Europe were sold to the Kuwait Petroleum Corporation (KPC) in early 1983. The associated Gulf filling stations were converted to trade under the Q8 brand by 1988.[52] However, attempts to sell Gulf Oil (Great Britain) to KPC failed because of irrevocable GOC guarantees given earlier in regard to bonds issued to finance the construction of refinery facilities in the UK. GO(GB) was taken over by Chevron and its stations continued to use the Gulf brand name and insignia until 1997 when the network was sold to Shell, although by this stage a fairly large proportion of Gulf stations were supplied by jobbers rather than Gulf Oil (GB). Gulf completely withdrew from the UK in 1997.[53] This represented the end of the last major "downstream" use of the Gulf brand by Chevron. In the UK, the Gulf brand is now licensed by Certas Energy (GB Oils) [1], who also now own the Pace brand, which was coincidentally formerly owned by the Kuwait Petroleum Corporation [2].

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Consumer confusion

Consumer confusion

Consumer confusion is a state of mind that leads to consumers making imperfect purchasing decisions or lacking confidence in the correctness of their purchasing decisions.

Gulf Oil LP

Gulf Oil LP

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.

Cumberland Farms

Cumberland Farms

Cumberland Farms, colloquially known as Cumby's, is a regional chain of convenience stores based in Westborough, Massachusetts, operating primarily in New England, New York and Florida. Cumberland Farms operates 566 retail stores, gas stations, and a support system including petroleum and grocery distribution operations in 8 states: Massachusetts, Rhode Island, Maine, New Hampshire, Connecticut, Vermont, New York and Florida.

Franchising

Franchising

Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses some or all of its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. In return, the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a franchise agreement.

Brancaster Staithe

Brancaster Staithe

Brancaster Staithe is a village on the north coast of the English county of Norfolk. Brancaster Staithe merges with Burnham Deepdale, forming one village.

Abdulhadi H. Taher

Abdulhadi H. Taher

Abdulhadi H. Taher (1930-2013) was a Saudi Arabian oil executive and author. He was Director General of the Saudi Arabian Ministry of Petroleum and Minerals.

Belgium

Belgium

Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the southwest, and the North Sea to the northwest. It covers an area of 30,528 km2 (11,787 sq mi) and has a population of more than 11.5 million, making it the 22nd most densely populated country in the world and the 6th most densely populated country in Europe, with a density of 376/km2 (970/sq mi). Belgium is part of an area known as the Low Countries, historically a somewhat larger region than the Benelux group of states, as it also included parts of northern France. The capital and largest city is Brussels; other major cities are Antwerp, Ghent, Charleroi, Liège, Bruges, Namur, and Leuven.

Germany

Germany

Germany, officially the Federal Republic of Germany, is a country in Central Europe. It is the second-most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated between the Baltic and North seas to the north, and the Alps to the south; it covers an area of 357,022 square kilometres (137,847 sq mi), with a population of over 84 million within its 16 constituent states. Germany borders Denmark to the north, Poland and the Czech Republic to the east, Austria and Switzerland to the south, and France, Luxembourg, Belgium, and the Netherlands to the west. The nation's capital and most populous city is Berlin and its main financial centre is Frankfurt; the largest urban area is the Ruhr.

Ireland

Ireland

Ireland is an island in the North Atlantic Ocean, in north-western Europe. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the second-largest island of the British Isles, the third-largest in Europe, and the twentieth-largest in the world.

Czech Republic

Czech Republic

The Czech Republic, also known as Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The Czech Republic has a hilly landscape that covers an area of 78,871 square kilometers (30,452 sq mi) with a mostly temperate continental and oceanic climate. The capital and largest city is Prague; other major cities and urban areas include Brno, Ostrava, Plzeň and Liberec.

Finland

Finland

Finland, officially the Republic of Finland, is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland to the south, across from Estonia. Finland covers an area of 338,455 square kilometres (130,678 sq mi) with a population of 5.6 million. Helsinki is the capital and largest city. The vast majority of the population are ethnic Finns. Finnish and Swedish are the official languages, Swedish is the native language of 5.2% of the population. Finland's climate varies from humid continental in the south to the boreal in the north. The land cover is primarily a boreal forest biome, with more than 180,000 recorded lakes.

Conoco

Conoco

Conoco Inc. was an American oil and gas company that operated from 1875 until 2002, when it merged with Phillips Petroleum to form ConocoPhillips. Founded by Isaac Elder Blake in 1875 as the "Continental Oil and Transportation Company". Currently the name Conoco is a brand of gasoline and service station in the United States which belongs to Phillips 66 following the spin-off of ConocoPhillips' downstream assets in May 2012.

Revival

GOI and GOLP continue to sell Gulf-branded lubricants worldwide through a network of official licensed companies, joint ventures and wholly owned subsidiary companies. Many of these official Gulf distributors carry out local marketing and sponsorship which help to raise the profile of the brand. Of these wholly owned subsidiaries Gulf Oil Corporation India has raised the market profile of the Gulf brand in the Middle East. GOCL have emerged as one of leading lubricants brands in India and run many marketing sponsorships targeted at the ever-growing youth sector in the country.

GOI licenses the Gulf brand and logo in the UK to the Bayford group, one of the largest independent fuel distributors. Starting in 2001, a new Gulf network of independent stations began appearing across the UK, many of which offered leaded "four-star" petrol, for which Bayford had a special dispensation to sell. At the same time, Gulf Lubricants (UK) Ltd was set up to market Gulf products in the UK, mostly manufactured by the Gulf Netherlands operation. This return by Gulf to the UK after a four-year absence used the slogan "The Return of the Legend".[54] The post-2001 Gulf presence in the UK is a wholly network-based operation. It involves almost no direct Gulf investment in fixed assets, corporate infrastructure, or manufacturing capability. This is a complete contrast to the pre-1997 presence.

In January 2010, after using the name since 1986, GOLP acquired all right, title and interest in the Gulf brand name in the United States and announced plans to expand the use of the Gulf brand beyond its parent company's Northeastern United States base. Its promotions have included sponsorship of major sporting events in the area with advertisements for Gulf in New York City, Boston, Philadelphia, and Pittsburgh. To take one case as an illustrative example of the Gulf revival, after Texaco's 2001 merger with Chevron, many former Texaco stations in Pittsburgh switched to Gulf since Chevron does not service the Greater Pittsburgh area. As a result, the Texaco brand name disappeared from the area in June 2004 when the nonexclusive rights agreement with Shell expired, with Shell itself expanding in the area by means other than Texaco. However, in June 2006, Chevron gave exclusive rights to the Texaco brand name in the U.S. and sold some BP gas stations in the southeast which were Gulf gas stations. In New England, former Exxon stations have been rebranded as Gulf, in accordance with the consent decree that allowed the merger of Exxon and Mobil. Many of the former Exxon stations feature a rectangular logo that fit into the existing sign standards used by Exxon. Gulf refers to the look as its "sunrise" imaging.

Aston Martin V8 Vantage in Gulf Oil livery, as seen in 2012
Aston Martin V8 Vantage in Gulf Oil livery, as seen in 2012

The Gulf logo is still used around the world by various businesses. GOI uses it for their marketing activities to focus on the sponsorship of motor sport teams including MotoGP team Aprilia Racing Team Gresini for the 2019 season[55] and Formula 1 team McLaren for the 2020 season.[56] This sponsorship is used across the world by Gulf distributors, alongside local activity demonstrating the GOI company ethos of "your local global brand". In 2009, the clothing store chain Old Navy began selling T-shirts bearing the old Gulf logo, along with the former logos of Standard Oil and Chevron.

Between 1980 and 2000, Gulf moved from being a monolithic, vertically integrated multinational corporation to being more of a network of allied business interests. This has given the entire Gulf enterprise a high degree of strategic and operational flexibility. It is a move that reflects fundamental changes in the economics of international business.

Alliances represent yet another shift in the organization of economic transactions from organizational hierarchies to networks; from mass to flexible production; from large, vertically integrated organizations to disintegration and horizontal networks of economic units; from "Fordist" to "post-Fordist" companies.[57]

In March 2016, Gulf MX announced that they will put their own filling stations in Mexico, which is planned to begin operations in July of the same year to compete with the local company (PEMEX) (as a result of the recent changes in the local laws in matter of energy and oil resources). As said by Sergio De La Vega (CEO of Gulf Mexico), in order to improve a better service, Gulf will make fidelity programs and dedicated smartphone apps. for customers (improving fuel payment into the same, fuel administration and better experience with fidelity programs as another additional benefits) adding to modern service stations with more quality-added services.

Adding to that, Gulf will offer franchises to the existing filling station owners to convert them to Gulf branding.

In July 2020, GOI announced a multi-year strategic partnership with long time partner McLaren,[58] which includes Gulf being the preferred lubricant supplier to McLaren Automotive[59] and a special Gulf livery for the 2021 Monaco Grand Prix.[60] In February 2023, GOI announced a multi-year partnership with Williams Racing.[61]

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Middle East

Middle East

The Middle East is a geopolitical region commonly encompassing Arabia, Asia Minor, East Thrace, Egypt, Iran, the Levant, Mesopotamia, and the Socotra Archipelago. The term came into widespread usage as a replacement of the term Near East beginning in the early 20th century. The term "Middle East" has led to some confusion over its changing definitions, and has been viewed by some to be discriminatory or too Eurocentric. The region includes the vast majority of the territories included in the closely associated definition of Western Asia, but without the South Caucasus, and additionally includes all of Egypt and all of Turkey.

Bayford & Co

Bayford & Co

The Bayford Group is a British company founded in 1919 in Leeds, England. For over 100 years The Bayford Group has developed and invested in a diverse portfolio of companies. Energy has always been the core of the business, from the original 1919 coal merchant business set up by 4 soldiers in Yorkshire, and named after the village where they had been demobbed, Bayford in Hertfordshire – oil distribution in the 60s, energy supply in the 90s to the multimillion pound acquisition of Gulf Gas & Power almost a century later in 2017.

New York City

New York City

New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over 300.46 square miles (778.2 km2), New York City is the most densely populated major city in the United States and more than twice as populous as Los Angeles, the nation's second-largest city. New York City is located at the southern tip of New York State. It constitutes the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the U.S. by both population and urban area. With over 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York is one of the world's most populous megacities, and over 58 million people live within 250 mi (400 km) of the city. New York City is a global cultural, financial, entertainment, and media center with a significant influence on commerce, health care and life sciences, research, technology, education, politics, tourism, dining, art, fashion, and sports. Home to the headquarters of the United Nations, New York is an important center for international diplomacy, and is sometimes described as the capital of the world.

Boston

Boston

Boston, officially the City of Boston, is the capital and largest city of the Commonwealth of Massachusetts and the cultural and financial center of the New England region of the Northeastern United States. The city boundaries encompass an area of about 48.4 sq mi (125 km2) and a population of 675,647 as of 2020. The city is the economic and cultural anchor of a substantially larger metropolitan area known as Greater Boston, a metropolitan statistical area (MSA) home to a census-estimated 4.8 million people in 2016 and ranking as the tenth-largest MSA in the country. A broader combined statistical area (CSA), generally corresponding to the commuting area and including Worcester, Massachusetts and Providence, Rhode Island, is home to approximately 8.2 million people, making it the sixth most populous in the United States.

Chevron Corporation

Chevron Corporation

Chevron Corporation is an American multinational energy corporation predominantly in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California, it is headquartered in San Ramon, California, and active in more than 180 countries. Within oil and gas, Chevron is vertical integrated and is involved in hydrocarbon exploration, production, refining, marketing and transport, chemicals manufacturing and sales, and power generation.

BP

BP

BP p.l.c. is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas "supermajors" and one of the world's largest companies measured by revenues and profits. It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and extraction, refining, distribution and marketing, power generation, and trading.

Exxon

Exxon

Exxon Corporation, formerly known as the Standard Oil Company of New Jersey until 1973, was an American oil company and descendant of Standard Oil which merged with Mobil to form ExxonMobil in 1999. Once one of the Seven Sisters that dominated the global petroleum industry, Exxon was one of the largest companies in the world, being one of the top five companies on Fortune 500 between the first edition of the list and the year of its merger with Mobil and reaching the #1 spot on the list a few years between 1970 and 1995.

Mobil

Mobil

Mobil is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil. The brand was formerly owned and operated by an oil and gas corporation of the same name, which itself merged with Exxon to form ExxonMobil in 1999.

Aston Martin

Aston Martin

Aston Martin Lagonda Global Holdings PLC is an English manufacturer of luxury sports cars and grand tourers. Its predecessor was founded in 1913 by Lionel Martin and Robert Bamford. Steered from 1947 by David Brown, it became associated with expensive grand touring cars in the 1950s and 1960s, and with the fictional character James Bond following his use of a DB5 model in the 1964 film Goldfinger. Their sports cars are regarded as a British cultural icon. Aston Martin has held a Royal Warrant as purveyor of motorcars to Charles III since 1982, and has over 160 car dealerships in 53 countries, making it a global automobile brand. The company is traded at the London Stock Exchange and is a constituent of the FTSE 250 Index. In 2003 it received the Queen's Award for Enterprise for outstanding contribution to international trade. The company has survived seven bankruptcies throughout its history.

Grand Prix motorcycle racing

Grand Prix motorcycle racing

Grand Prix motorcycle racing is the premier class of motorcycle road racing events held on road circuits sanctioned by the Fédération Internationale de Motocyclisme (FIM). Independent motorcycle racing events have been held since the start of the twentieth century and large national events were often given the title Grand Prix. The foundation of the Fédération Internationale de Motocyclisme as the international governing body for motorcycle sport in 1949 provided the opportunity to coordinate rules and regulations in order that selected events could count towards official World Championships. It is the oldest established motorsport world championship.

Gresini Racing

Gresini Racing

Gresini Racing is a motorcycle racing team competing in the MotoGP World Championship under the name Gresini Racing MotoGP as a Ducati satellite team, in the Moto2 World Championship as QJmotor Gresini Moto2, and the MotoE World Cup as Felo Gresini MotoE. The team also competes in CIV Moto3.

McLaren

McLaren

McLaren Racing Limited is a British motor racing team based at the McLaren Technology Centre in Woking, Surrey, England. McLaren is best known as a Formula One constructor, the second oldest active team, and the second most successful Formula One team after Ferrari, having won 183 races, 12 Drivers' Championships and 8 Constructors' Championships. McLaren also has a history of competing in American open wheel racing, as both an entrant and a chassis constructor, and has won the Canadian-American Challenge Cup (Can-Am) sports car racing championship. The team is a subsidiary of the McLaren Group, which owns a majority of the team.

Pennsylvania Turnpike

Gulf Service Station and Howard Johnson Restaurant, Pennsylvania Turnpike
Gulf Service Station and Howard Johnson Restaurant, Pennsylvania Turnpike

For decades, Gulf operated filling stations on the Pennsylvania Turnpike toll highway system alongside the Howard Johnson's restaurants at the Turnpike's travel plazas (which correspond to European motorway service areas). This began in 1950 with the opening of the Philadelphia Extension, and Gulf added more filling stations as the system was extended. The Standard Oil Company of Pennsylvania (now part of Exxon) had exclusive rights to provide filling station services on the sections of the system that opened prior to 1950, principally the Irwin-to-Carlisle section.

In the 1980s, Sunoco was awarded the franchise to operate the filling stations at the Sideling Hill and now-closed Hempfield travel plazas. This led to a bidding war among three of Pennsylvania's most recognizable gasoline brands each time a travel plaza franchise came up for renewal.

Gulf had the opportunity to become the exclusive provider of filling stations at travel plazas along the Pennsylvania Turnpike after Exxon withdrew from the Turnpike in 1990. Cumberland Farms (owner of the Gulf brand in the northeastern U.S.) was awarded a new contract with the Pennsylvania Turnpike Commission, but the contract was sold to Sunoco two years later as part of the company's bankruptcy proceedings. In June 1992, all of the former Gulf filling stations on the Turnpike (as with the Exxon ones before it) converted to Sunoco. All of the travel plazas continue to sell Sunoco fuel today.

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Pennsylvania Turnpike

Pennsylvania Turnpike

The Pennsylvania Turnpike is a toll highway operated by the Pennsylvania Turnpike Commission (PTC) in the U.S. state of Pennsylvania. A controlled-access highway, it runs for 360 miles (580 km) across the state. The turnpike's western terminus is at the Ohio state line in Lawrence County, where the road continues west as the Ohio Turnpike. The eastern terminus is at the New Jersey state line at the Delaware River–Turnpike Toll Bridge over the Delaware River in Bucks County, where the road continues east as the Pearl Harbor Memorial Extension of the New Jersey Turnpike.

Howard Johnson's

Howard Johnson's

Howard Johnson's, or Howard Johnson by Wyndham, is an American hotel chain with locations worldwide. It was also formerly a restaurant chain. The restaurant was founded by Howard Deering Johnson in 1925; in the 1950s, the company expanded operations by opening hotels, then known as Howard Johnson's Motor Lodges, which were often located next to restaurants. Throughout the 1960s and 1970s, it was the largest restaurant chain in the U.S., with more than 1,000 combined company-owned and franchised outlets.

Rest area

Rest area

A rest area is a public facility located next to a large thoroughfare such as a motorway, expressway, or highway, at which drivers and passengers can rest, eat, or refuel without exiting onto secondary roads. Other names include motorway service area (UK), services (UK), travel plaza, rest stop, oasis (US), service area, rest and service area (RSA), resto, service plaza, lay-by, and service centre (Canada). Facilities may include park-like areas, fuel stations, public toilets, water fountains, restaurants, and dump and fill stations for caravans / motorhomes.

Motorway service area

Motorway service area

Motorway service areas in the United Kingdom and Ireland, also known as services or service stations, are rest areas where drivers can leave a motorway to refuel/recharge, rest, eat and drink, shop or stay in an on-site overnight hotel. The vast majority of motorway services in the UK are owned by one of three companies: Moto, Welcome Break and Roadchef. Smaller operators include Extra, Westmorland and EG Group.

Exxon

Exxon

Exxon Corporation, formerly known as the Standard Oil Company of New Jersey until 1973, was an American oil company and descendant of Standard Oil which merged with Mobil to form ExxonMobil in 1999. Once one of the Seven Sisters that dominated the global petroleum industry, Exxon was one of the largest companies in the world, being one of the top five companies on Fortune 500 between the first edition of the list and the year of its merger with Mobil and reaching the #1 spot on the list a few years between 1970 and 1995.

Irwin, Pennsylvania

Irwin, Pennsylvania

Irwin is a borough in Westmoreland County, Pennsylvania, 22 miles (35 km) southeast of Pittsburgh. Some of the most extensive bituminous coal deposits in the commonwealth are located here. In the past, iron foundries, flour mills, car shops, facing and planing mills, electricals goods, and mirror factories provided employment to the residents. In 1900, the population numbered 2,452; it increased to 2,886 in 1910. The population was 3,973 at the 2010 census.

Carlisle, Pennsylvania

Carlisle, Pennsylvania

Carlisle is a borough in and the county seat of Cumberland County, Pennsylvania, United States. Carlisle is located within the Cumberland Valley, a highly productive agricultural region. As of the 2020 census, the borough population was 20,118; including suburbs in the neighboring townships, 37,695 live in the Carlisle urban cluster. Carlisle is the smaller principal city of the Harrisburg–Carlisle metropolitan statistical area, which includes all of Cumberland, Dauphin, and Perry counties in South Central Pennsylvania.

Sunoco

Sunoco

Sunoco LP is an American master limited partnership organized under Delaware state laws and headquartered in Dallas, Texas. Dating back to 1886, the company has transitioned from a vertically integrated energy company to a distributor of motor fuels. It was previously engaged in oil and natural gas exploration and production, refining, chemical manufacturing, and retail fuel sales, but divested these businesses. Sunoco is the largest independent distributor of motor fuels in the United States.

Pennsylvania

Pennsylvania

Pennsylvania, officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. Pennsylvania borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio to its west, Lake Erie and the Canadian province of Ontario to its northwest, New York state to its north, and the Delaware River and New Jersey to its east.

Pennsylvania Turnpike Commission

Pennsylvania Turnpike Commission

The Pennsylvania Turnpike Commission (PTC) is an agency created in 1937 to construct, finance, operate, and maintain the Pennsylvania Turnpike. The commission consists of five members. Four members are appointed by the Governor of Pennsylvania, while the fifth member is the Pennsylvania Secretary of Transportation.

Gulf products

Vintage Gulf Oil sign photographed in Roslyn, New York, 2018
Vintage Gulf Oil sign photographed in Roslyn, New York, 2018

Most filling stations in Europe sell three types of fuel: unleaded, LRP, and diesel. Although these products lack any real brand differentiation, this has not always been the case. Until well into the 1970s, Gulf (in common with other oil companies) sold distinctive brands of petrol/gasoline including subregular Gulftane (briefly a midgrade low lead), Good Gulf regular, Gulf No-Nox premium, Gulf Super Unleaded, and Gulfcrest (Regular Unleaded). Gulfcrest was also a super premium grade in the 1950s and early 1960s. Gulf petrol was sold using the slogans "Good Gulf Gasoline," and "Gulf – the Gas with Guts." Gulf service stations often supplied customers with pens and key rings bearing these slogans. For a few years, beginning in 1966, Gulf stations in the U.S. gave away orange plastic "Extra Kick Horseshoes" to customers who filled their tanks with Gulf's No-Nox premium gasoline (the novelty items were commonly mounted on bumpers).

GOI still produces and sells a wide range of branded oil based products including lubricants and greases of all kinds.[62] These include products for a variety of applications ranging from metal working oils to refrigeration oils. Car engine oils include the Gulf Formula, Gulf MAX, and Gulf TEC ranges. Heavy duty diesel engine lubricants include the Gulf Supreme and Gulf Superfleet ranges.

In the summer of 2013, Gulf Oil licensed the "Gulf" name for racing fuels in a return to the American racing scene for the 2014 competition season.[63] The fuels were announced at the Performance Racing Industry Show in Indianapolis, Indiana, in December 2013. The racing fuels support the World Racing League and the Formula Atlantic Championship in the United States.[64] [65]

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Roslyn, New York

Roslyn, New York

Roslyn is a village in the Town of North Hempstead in Nassau County, on the North Shore of Long Island, in New York, United States. It is the Greater Roslyn area's anchor community. The population was 2,770 at the 2010 census.

Gasoline

Gasoline

Gasoline or petrol is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. On average, U.S. refineries produce, from a barrel of crude oil, about 19 to 20 gallons of gasoline; 11 to 13 gallons of distillate fuel ; and 3 to 4 gallons of jet fuel. The product ratio depends on the processing in an oil refinery and the crude oil assay. A barrel of oil is defined as holding 42 US gallons, which is about 159 liters or 35 imperial gallons.

Diesel fuel

Diesel fuel

Diesel fuel, also called diesel oil or historically heavy oil, is any liquid fuel specifically designed for use in a diesel engine, a type of internal combustion engine in which fuel ignition takes place without a spark as a result of compression of the inlet air and then injection of fuel. Therefore, diesel fuel needs good compression ignition characteristics.

Indianapolis

Indianapolis

Indianapolis, colloquially known as Indy, is the capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Marion County was 977,203 in 2020. The "balance" population, which excludes semi-autonomous municipalities in Marion County, was 887,642. It is the 15th most populous city in the U.S., the third-most populous city in the Midwest, after Chicago and Columbus, Ohio, and the fourth-most populous state capital after Phoenix, Arizona, Austin, Texas, and Columbus. The Indianapolis metropolitan area is the 33rd most populous metropolitan statistical area in the U.S., with 2,111,040 residents. Its combined statistical area ranks 28th, with a population of 2,431,361. Indianapolis covers 368 square miles (950 km2), making it the 18th largest city by land area in the U.S.

Indiana

Indiana

Indiana is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th state on December 11, 1816. It is bordered by Lake Michigan to the northwest, Michigan to the north and northeast, Ohio to the east, the Ohio River and Kentucky to the south and southeast, and the Wabash River and Illinois to the west.

Formula Atlantic

Formula Atlantic

Formula Atlantic is a specification of open-wheel racing car developed in the 1970s. It was used in professional racing through the IMSA Atlantic Championship until 2009 and is currently primarily used in amateur racing through Sports Car Club of America Formula Atlantic.

CEOs

  • S. A. Swensrud (1953?)[66]
  • Robert Rawls Dorsey (1969? – January 14, 1976; resigned with three years on his contract)[67][68][69]
  • Jerry McAfee (January 14, 1976 – November 30, 1981)[70][71]
  • James E. Lee (December 1, 1981 – 1984)[70][72][73][a 1]

Source: "Gulf Oil", Wikipedia, Wikimedia Foundation, (2023, March 7th), https://en.wikipedia.org/wiki/Gulf_Oil.

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See also
Explanatory notes
  1. ^ James E. Lee was the last CEO of Gulf Corporation until 1984 when it was acquired by Chevron. He retired as vice chairman at Chevron in 1986.[72]
References
  1. ^ History of Gulf Oil Archives on Gulf Oil Ltd site, retrieved 11 March 2019
  2. ^ SOCAL agrees to buy Gulf in record deal price by Robert Cole at The New York Times, 6 March 1984.
  3. ^ FTC Approves Chevron Merger on Chicago Tribune, March 15, 1985
  4. ^ "Ultramar.ca history". Archived from the original on August 22, 2012.
  5. ^ Gulf Canada Resources, Canadian Encyclopedia article. Retrieved 2014-07-30.
  6. ^ GOI website: – extract from Gulf Oil mission statement Archived December 5, 2006, at the Wayback Machine
  7. ^ "La Marca GULF - TOTAL España". www.total.es. Archived from the original on October 2, 2017. Retrieved August 24, 2018.
  8. ^ Linsley, Judith; Rienstrad, Ellen; Stiles, Jo (2002). Giant Under the Hill, A History of the Spindletop Oil Discovery at Beaumont, Texas in 1901. Austin: Texas State Historical Association. pp. 186–188. ISBN 9780876112366.
  9. ^ Handbook of Texas: Early history of Gulf Oil
  10. ^ Olien, Diana; Olien, Roger (2002). Oil in Texas, The Gusher Age, 1895-1945. Austin: University of Texas Press. p. 48. ISBN 0292760566.
  11. ^ Peck, Malcolm C. (December 20, 2007). Historical dictionary of the Gulf Arab states (Second ed.). Scarecrow Press. p. 115. ISBN 978-0-8108-5463-5.
  12. ^ Gulf Oil official 50th anniversary history publication, (1967), p4
  13. ^ Handbook of Texas: Spindletop Oilfield
  14. ^ Handbook of Texas: see para 1
  15. ^ Gulfoil Historical Society: early Gulf gas pumps
  16. ^ Vassiliou, M. S. (September 24, 2009). The A to Z of the Petroleum Industry. Scarecrow Press. p. 140. ISBN 978-0-8108-7066-6. Retrieved July 24, 2013.
  17. ^ Randall, Stephen J. (2005). United States Foreign Oil Policy Since World War I: for Profits and Security. McGill-Queen's Press – MQUP. pp. 72–73. ISBN 978-0-7735-7540-0. Retrieved July 24, 2013.
  18. ^ "U.S. Business Opens the Great New Barco Oil Fields in Colombia". LIFE. Vol. 7, no. 20. Time Inc. November 13, 1939. p. 15. ISSN 0024-3019. Retrieved July 24, 2013.
  19. ^ US Department of State Briefing Paper: Kuwait, 1994 – see section on Oil Archived May 7, 2006, at the Wayback Machine
  20. ^ GOC memo 1950: GOC internal appreciation of the Kuwait government
  21. ^ KOC: history of Gulf involvement in KOC
  22. ^ "Gulf Oil Company Will Spend Forty Millions to Expand Philadelphia Plant". Times Herald. December 13, 1948. p. 12.
  23. ^ American Refining Group publicity statement: 2004
  24. ^ Handbook of Texas Online: Gulf Oil
  25. ^ Handbook of Texas: see para 3
  26. ^ KOC history: the end of Gulf's involvement in Kuwait
  27. ^ Scripophily history vignette: see para 11 Archived May 25, 2011, at the Wayback Machine
  28. ^ Byrne O Cleiregh consultants report: report on Whiddy Island oil terminal
  29. ^ Reformed Theology essay: Gulf/Chevron involvement in Angola Archived March 7, 2011, at the Wayback Machine
  30. ^ Vanderbilt Television News Archive: Gulf's Dorsey testifies to Senate Foreign Relations Committee
  31. ^ "The Pittsburgh Press - Google News Archive Search". news.google.com.
  32. ^ "The Pittsburgh Press - Google News Archive Search". news.google.com.
  33. ^ "The Pittsburgh Press - Google News Archive Search". news.google.com.
  34. ^ "The Pittsburgh Press - Google News Archive Search". news.google.com.
  35. ^ Editors, "The Corpulent Long Islanders", AIR International, Bromley, Kent, UK, March 1976, Volume 10, Number 3, pages 131–133.
  36. ^ YouTube Video: "Bringin' home the oil" with scene possibly shot at Whiddy, created as a tribute to the original commercial
  37. ^ Wrist Dreams: Tag Heuer's Limited Edition Monaco Gulf Archived November 2, 2007, at the Wayback Machine
  38. ^ NNDB: outline bio
  39. ^ "Texas Style Takeover" Time: (June 21, 1982)
  40. ^ "Upping the Ante" Time: (June 28, 1982)
  41. ^ Financial Management article, 9/2002 Gulf's wealth loss from Cities Services white knight project – see Section C and footnote 15
  42. ^ NY Times report on litigation 1999 award to Occidental
  43. ^ Famous Texans: outline history of Pickens and Mesa, see para 5
  44. ^ Lasner, Jonathan (March 6, 1984). "Gulf directors accept $80 bid from Socal". Pittsburgh Press. p. A1.
  45. ^ "Merger would be largest ever". Spokesman-Review. (Spokane, Washington). Associated Press. March 6, 1984. p. A5.
  46. ^ The New York Times report: "FTC approves merger", October 1984
  47. ^ Bohn, Earl (March 14, 1985). "Pittsburgh Losing Gulf, May Gain Research Centre". Observer-Reporter. Retrieved January 11, 2014.
  48. ^ GOLP website: details of GOLP operation
  49. ^ GOI: http://www.gulfoilltd.com/
  50. ^ GOI website: history of GOI Archived December 5, 2006, at the Wayback Machine
  51. ^ CNN.com article: Conoco to buy Gulf Canada
  52. ^ 1983 NYT article: sale of Gulf operations to KPC
  53. ^ Company News report, 1997: Gulf Oil (GB) sold to Shell Archived August 29, 2007, at the Wayback Machine
  54. ^ Bayford Gulf website: Gulf filling stations in the UK Archived March 18, 2006, at the Wayback Machine
  55. ^ "Aprilia and Gulf join forces for 2019 season". Gulf Oil. Retrieved March 14, 2019.
  56. ^ "McLaren Racing - Gulf Oil".
  57. ^ Stephen J Kobrin, Globalisation and multinationals (Pitman), 1997
  58. ^ Noble, Jonathan. "McLaren set for F1 reunion with Gulf Oil in new sponsorship deal". Autosport.com. Retrieved July 30, 2020.
  59. ^ "McLaren Racing - Gulf partners with McLaren to announce multi-year partnership covering F1 and luxury supercars". www.mclaren.com. July 28, 2020.
  60. ^ "McLaren Racing - McLaren Racing and Gulf Oil International unveil limited edition Monaco Grand Prix livery". www.mclaren.com. May 16, 2021.
  61. ^ "Williams Racing and Gulf Oil International announce long-term partnership". Williams Racing. February 6, 2023.
  62. ^ GOI product and services product list Archived December 5, 2006, at the Wayback Machine
  63. ^ "Gulf Racing Fuels - High Performance Racing Fuels by Gulf". Gulf Racing Fuels.
  64. ^ "Gulf Oil Partners With Hyperfuels | NACS Online – News & Media Center – News Archive". Nacsonline.com. July 19, 2013. Archived from the original on January 12, 2014. Retrieved January 11, 2014.
  65. ^ "Gulf Brand Returns to the Race Track". Convenience Store News. July 19, 2013. Retrieved August 21, 2020.
  66. ^ Friedman, Arthur R. (March 25, 1953). "Gulf Oil Profit Shows Moderate Gain Over 1951". Pittsburgh Post-Gazette. Retrieved January 11, 2014.
  67. ^ Gould, Lee (January 14, 1976). "Dorsey Resigns as Gulf Oil Head". Lewiston Evening Journal. Retrieved January 11, 2014.
  68. ^ Noonan, John Thomas (1988). Bribes. University of California Press. p. 638. ISBN 9780520061545. Retrieved January 11, 2014.
  69. ^ Barmash, Isadore (April 2004). The Chief Executives. Beard Books. p. 102. ISBN 9781587982286. Retrieved January 11, 2014.
  70. ^ a b "Gulf Oil's President Elected Chairman". The New York Times. July 15, 1981. Retrieved April 30, 2017.
  71. ^ MacLeod, Scott (January 13, 1977). "Gulf's Boss on Scandal: 'It Won't Happen Again'". The Pittsburgh Press. Retrieved January 11, 2014.
  72. ^ a b Fisher, Lawrence M.; Scardino, Albert (November 26, 1986). "Former Gulf Chief Retiring at Chevron". The New York Times. Retrieved April 30, 2017.
  73. ^ Hagerty, James R. (April 1, 2016). "CEO James E. Lee Steered Gulf Oil Corp. Through Takeover Battle in the '80s: 1921-2016". The Wall Street Journal. Retrieved April 30, 2017.
Further reading
External links
  • Media related to Gulf Oil at Wikimedia Commons

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