ARCO

Atlantic Richfield Company (ARCO)
Company typePrivate (subsidiary of Tesoro Corporation)
IndustryOil & Gas Extraction
Founded1966
HeadquartersLa Palma, California, United States
Number of locations
1,200
Area served
United States
ParentBritish Petroleum (2000-2013)
Tesoro Corporation (2013-present)
WebsiteARCO.com
An ARCO filling station in Los Angeles, California

ARCO (short for Atlantic Richfield Company, the original name) is a United States oil company. It has operationsn 2 in the United States, Indonesia, the North Sea, and the South China Sea. As of July 2011, it had more than 1,300 gas stations in the western part of the United States.

ARCO's original parent companies included:

The two companies merged in 1966, and bought Sinclair Oil Corporation in 1969. In 1978, ARCO opened its first ampm convenience store.

Between 1970 and 2000, ARCO had a complicated corporate history. By 1985, it sold its Eastern US business to a new Atlantic Petroleum. In 2000, the remaining Western US business was bought by British Petroleum (BP). Finally, in 2013, BP sold ARCO and the Carson Refinery to Tesoro for $2.5 billion.

Oil discovery

In 1957, Richfield was the first to drill for oil in Alaska. On July 15 of that year they struck oil with their first well. It was the first major oil discovery in Alaska and tested at 900 barrels a day. In 1968 they partnered with Exxon for Alaska North Slope oil production. In 1980, they were the seventh largest oil company in the United States.

References

  1. ↑ "Atlantic Richfield Chemical and Oil (ARCO) (American oil company) - Britannica Online Encyclopedia". Britannica.com. Retrieved 9 October 2015.
  2. ↑ "Official About ARCO Page". ARCO. Archived from the original on 2011-07-07. Retrieved 2011-07-07.
  3. ↑ "Tesoro Corporation Closes the Purchase of BP's Southern California Refining and Marketing Business". The Wall Street Journal. June 3, 2013.
  4. ↑ "Oil Discovery and Development in Alaska". Alaska Humanities Forum. Archived from the original on 26 May 2016. Retrieved 24 May 2016.
  5. ↑ "Richfield Oil Corporation". 12 September 2013. Retrieved 24 May 2016.
  6. ↑ "A Brief History of Major Oil Companies in The Gulf Region". University of Virginia. Archived from the original on 7 October 2019. Retrieved 24 May 2016.
  7. ↑ "Atlantic Richfield Co., the nation's seventh largest oil company,..." United Press International, Inc. 27 October 1980. Retrieved 24 May 2016.

Other websites