ARCO
American oil company / From Wikipedia, the free encyclopedia
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.[1] As of July 2011, it had more than 1,300 gas stations in the western part of the United States.[2]
Company type | Private (subsidiary of Tesoro Corporation) |
---|---|
Industry | Oil & Gas Extraction |
Founded | 1966 |
Headquarters | La Palma, California, United States |
Number of locations | 1,200 |
Area served | United States |
Parent | British Petroleum (2000-2013) Tesoro Corporation (2013-present) |
Website | ARCO.com |
ARCO's original parent companies included:
- Atlantic Petroleum, which opened its first gas station in 1915 in Pittsburgh, Pennsylvania.
- Richfield Oil Company, which opened its first gas station in 1917 in Los Angeles, California.
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,[3] BP sold ARCO and the Carson Refinery to Tesoro for $2.5 billion.