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.[1] As of July 2011, it had more than 1,300 gas stations in the western part of the United States.[2]

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,[3] 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.[4] 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.[5] In 1968 they partnered with Exxon for Alaska North Slope oil production.[6] In 1980, they were the seventh largest oil company in the United States.[7]

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.

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