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BP

BP p.l.c. (formerly The British Petroleum Company plc and BP Amoco plc) 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.

• • In 1908, BP’s origins date back to the founding of the Anglo-Persian Oil Company, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran.

• • In 1935, it became the Anglo-Iranian Oil Company.

• • In 1954, adopted the name British Petroleum.

• • In 1959, the company expanded beyond the Middle East to Alaska.

• • In 1978, British Petroleum acquired majority control of Standard Oil of Ohio.

• • Between 1979-1987, Formerly majority state-owned, the British government privatized the company in stages.

• • In 1998, British Petroleum merged with Amoco, becoming BP Amoco plc.

• • Between 2000-2002, BP acquired ARCO and Burmah Castrol, and Aral AG.

• • In 2001, The company’s name was shortened to BP p.l.c.

• • From 2003 to 2013, BP was a partner in the TNK-BP joint venture in Russia, and from 2013 until Russia’s 2022 invasion of Ukraine, held a nearly 20% stake in Rosneft.

Marathon Petroleum

In 1887, several small oil companies banded together to form The Ohio Oil Company. From this humble beginning, we evolved into Marathon Petroleum Corporation. Along the way, gas stations took on new looks and additional services, new refining processes were born and the precursor to the modern credit card was first issued. Learn more about this rich and dynamic history by exploring the interactive timeline below.

• • In 1887, The Ohio Oil Company was founded in Lima, Ohio

• • In 1889, John D. Rockefeller’s Standard Oil purchased Ohio Oil. Corporate headquarters were moved to Findlay, Ohio.

• • In 1915, Ohio Oil created Illinois Pipe Line Company and immediately spun the company off.

• • In 1924, Lincoln Oil Refining Company was purchased, which included the Robinson refinery in Illinois and 17 Linco brand service stations in Robinson and Terre Haute, Indiana.

• • In 1930, Ohio Oil purchased Transcontinental Oil. The deal brought oil and natural gas wells, three refineries, bulk storage plants, and filling stations. It included the Marathon product name, the Pheidippides Greek runner trademark, and the “Best in the Long Run” slogan.

• • In 1998, Marathon Oil and Ashland Inc. formed a joint venture named Marathon Ashland Petroleum LLC, which added refineries in Catlettsburg (Kentucky), Canton (Ohio), and St. Paul Park (Minnesota) as well as a private inland barge fleet.

• • In 2004, Ashland Inc. transferred its interest in Marathon Ashland Petroleum to Marathon Oil.

• • In 2019, MPLX LP acquired Andeavor Logistics LP, creating a leading, large-scale, diversified midstream company.

Marathon Buying BP Texas City Refinery

BP announced it has reached an agreement to sell its Texas City, Texas refinery and a portion of its retail and logistics network in the Southeast U.S. to Marathon Petroleum Corporation for $2.5 billion (which includes $0.6bn of cash at closing, an estimated value of $1.2bn for hydrocarbon inventories and a $0.7bn six year earn-out arrangement based on future margins and refinery throughput).

BP – RUMAILA PROJECT

ZECO Valve supplied BP with 1500LB Gate Valves for Rumaila Project in Iraq.