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Amoco

From Academic Kids

Amoco Oil Corporation was founded in 1889 by John Rockefeller and first incorporated as Standard Oil of Indiana, formed from the breakup of gasoline giant Standard Oil. Since then, Amoco has grown into a global oil and gasoline conglomerate; it was merged with British Petroleum in 1998 to form BP.

History

From its beginnings in 1889, Amoco dominated the United States gas and oil market. In 1910, however, with the rise in popularity of the automobile (family car), Amoco decided to specialize in providing gas to everyday families and their cars. In the early 1910s, with the opening of its first gas service station in 1912 in Minneapolis, Minnesota, Amoco began to dominate the oil industry; it accounted for 88 percent of all gasoline and kerosine sales. In addition, in 1911 Amoco became independent of the Standard Oil Trust.

In the 1920s and 30s Amoco continued to dominate the market, as it opened up dozens more refining and oil-drilling facilities. Combined with a new oil-refining process, Amoco created its exploration and production business, Stanolind, in 1931. In the following years, a period of intense exploration and search for oil-rich fields ensued; the company drilled over 1000 wells in 1937 alone.

World War II followed this period of exploration; Amoco participated in the war effort, discovering new means of refinement and even a way of producing TNT quicker and easier. In addition, Amoco significantly contributed to the aviation and land gasoline needed for the Allied armies. Also, during the war Amoco created its chemical division, formed from the merger of the Pan American Chemicals Company and the Indoil Chemical Company.

In the late 1940s, after the war, Amoco returned to focusing on domestic oil refinement and advancement. In 1947 Amoco was the first company to drill off-shore, in the Gulf of Mexico, and in 1948 Amoco discovered Hydrafrac, a refinement process that increased oil production and refinement rates worldwide.

Soon after, Amoco began to expand. With an exploration office in Canada, Amoco was now an international gas company. Amoco created several new plants and claimed various new oil fields in this time period, as the company prospered in the post-war boom. In 1957 all the divisions of Amoco were consolidated into a single company, the Amoco Corporation.

In the late 1950s and early 60s, Amoco again led the way with scientific and technological discoveries. Amoco discovered PTA, a chemical for polyester fiber production. In 1968, following that discovery]], Amoco acquired the Avisun Corporation and Patchogue-Plymouth, forming the Amoco Fabrics and Fibers Company.

In the following decades, Amoco expanded globally, creating plants, oil wells, or markets in over 30 countries, including Great Britain, Belgium, Brazil, Mexico, South Korea, Taiwan, Norway, Venezuela, Russia, China, Trinidad, and Egypt. In addition, the company also acquired a division of Tenneco Oil Company and Dome Petroleum Company, becoming one of the world's largest oil companies.

On August 11, 1998, Amoco, a global chemical and oil company, announced it would merge with British Petroleum in the world's largest industrial merger. The two companies announced that all Amoco service stations would either be closed or renamed to BP service stations. However, BP still kept many aspects of Amoco, including the highly regarded "Amoco Ultimate" oil.

Logos

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Amoco1.gif
The first Amoco logo; it still bears the name of Standard Oil of Indiana.
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Amoco2.gif
The second Amoco logo.
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Amoco3.gif
The Amoco logo featuring the Standard Oil name.
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Amoco4.gif
Another Amoco logo.
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Amoco5.gif
The final Amoco logo.
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Amoco6.gif
The current Amoco logo, used by BP.

The first Amoco logo was unveiled in 1926 after a competition. The logo featured a circle, representing strength, stability, and dependability, with the words "Standard Oil Company (Indiana)" in red. The inner circle represents the cycle of service to customers. The word "Service" was written in the inside of the circles. In addition, the logo also had a torch with a flame, symbolizing progress.

The second logo was the first to bear the name "Amoco". It featured an ellipse divided into three sections horizontally; the top and bottom were red, and the middle had a black background with white lettering.

Another logo was developed under Standard Oil. It featured the divided ellipse; however, the colors were, from top to bottom, red, white, and black. In addition, this logo featured the torch on the original logo.

The next logo enhanced the previous one. It featured a blue bottom and a sleeker-looking torch. In addition, the word "Standard" become italicized and thicker.

The final Amoco logo simply changed the name on the logo to "Amoco". The logo featured the familiar torch and divided ellipse.

Currently, BP still employs the Amoco name, albeit under another logo. BP currently uses the logo under the main BP helios logo. The italicized word "Amoco" is shown after red, white, and blue horizontal stripes, taken from the divided ellipse of the former Amoco logo.

External Links

The History of Amoco (http://www.bp.com/sectiongenericarticle.do?categoryId=2010124&contentId=2014427)

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