ARCO

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Atlantic Richfield Company (ARCO) is an oil company with operations in the United States as well as in Indonesia, the North Sea, and the South China Sea.[1] It has more than 1,300 gas stations in the western part of the United States.[2] ARCO was originally formed by the merger of East Coast-based Atlantic Refining and California-based Richfield Petroleum in 1966. A further merger in 1969 brought in Sinclair Oil Corporation.[1] It became a subsidiary of UK-based BP in 2000 through it's BP West Coast Products LLC (BPWCP) affiliate.[3]

ARCO is known for having low-priced gasoline compared with other national brands, mainly due to an early 1980s decision to emphasize cost cuts (cash only policy) and alternative sources of income (ampm). ARCO is headquartered in La Palma, California.[4][5]

Contents

History

The Atlantic Petroleum Storage Company's heritage dates to 1866; it became part of the Standard Oil trust in 1874, but achieved independence again when Standard Oil was broken up in 1911.

In 1915, Atlantic opens its first gas station on Baum Boulevard in Pittsburgh, Pennsylvania.

In 1917, First Richfield Oil Company of California gas station at Slauson and Central Avenues in Los Angeles, California. Richfield Oil Company of California logo is an Eagle trademark.

Atlantic Refining Company is headquartered in Philadelphia, Pennsylvania.

In 1921, Sinclair Oil Company opens first modern service station in Chicago called "Greasing Palace No. 1". Sinclair gets into trouble with Teapot Dome scandal.

In 1966, Atlantic merges with the Richfield Oil Company of California. The first CEO was Robert Orville Anderson. The new company boasts a new trademark, a blue diamond shape called the ARCO Spark, designed by Bauhaus artist, designer, and architect Herbert Bayer.

Commercial oil exploration started in Prudhoe Bay, Alaska in the 1960s and the Prudhoe Bay, Alaska, North America's largest oil field, was discovered on March 12, 1968, by Atlantic Richfield Company (ARCO) and Exxon with the well Prudhoe Bay State #1. Key employees with ARCO Alaska were Marvin Mangus and John M Sweet. The Richfield Oil Company of California had purchased the drilling rights to the land where the discovery well was located. British Petroleum had drilling rights near the discovery well.

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