The American Oil Company, or Amoco, was a global chemical and oil company, founded
in Baltimore in 1910 and incorporated in 1922 by Louis Blaustein and his son
Jacob, but is now part of BP. The firm's early innovations include the gasoline
tanker truck and the drive-through filling station.
In 1923 the Blausteins
sold a half interest in Amoco to the Pan American Petroleum & Transport
company in exchange for a guaranteed supply of oil. Before this deal, Amoco was
forced to depend on Standard Oil of New Jersey, a competitor, for its supplies.
Standard Oil of Indiana acquired Pan American in 1925, beginning John Rockefeller's
association with the Amoco name.
Standard Oil (Indiana) was
formed in 1889 by John D. Rockefeller as part of the Standard Oil trust. In 1910,
with the rise in popularity of the automobile, Amoco decided to specialize
in providing gasoline to everyday families and their cars. In 1911, the year it
became independent from the Standard Oil trust, the company sold 88% of the gasoline
and kerosene sold in the midwest. In 1912 it opened its first gas service
station in Minneapolis, Minnesota
Fate Acquired by BP
Founded
1889
Defunct 2001
Location Chicago, IL
Industry Oil |
