Tuesday, November 09, 2010

Gulf Oil returns to Pittsburgh

Wake up the business desk, this is huge news.   Back to the Future:  Chevron Announces Agreement to Acquire Atlas Energy

I would imagine many in town no longer have any recollection of what the Gulf Building is named for.   Chevron should move its offices back into the building to complete the saga.


Anonymous Anonymous said...

Chevron would have to buy back the U-PARC facility in Harmar to truly complete the Gulf Oil saga. Think the University of Pittsburgh would accept the same price that they paid to Chevron- one dollar?

Tuesday, November 09, 2010 9:38:00 AM  
Anonymous BrianTH said...

Now we just need ExxonMobil to move into Cleveland. Or maybe that should be BP--I forget who is considered the one true heir of Standard Oil.

Anyway, I wonder if Chevron would be interested in setting up petrochemical operations actually in the region.

Tuesday, November 09, 2010 11:06:00 AM  
Blogger hholt01 said...

lol Standard Oil was founded in Pittsburgh by John D Rockefeller himself in about 1868 but soon there after moved to Cleveland then on to New York.

Reading C.B.'s headline I thought Atlas was BUYING Chevron.

More accurate to say that T. Boone Pickens returns to Pittsburgh to steal away our generations of wealth in the night!

Tuesday, November 09, 2010 11:24:00 AM  
Anonymous Anonymous said...

For BrianTH--There is no "one true heir" of Standard Oil. But Standard Oil of Ohio, or Sohio, was acquired by BP in 1987. Standard Oil of Indiana, or Amoco, also became part of BP (which is why Amoco Fuels are sold by BP stations). Standard's Atlantic division (Philadelphia) became free-standing, merged with Richfield (California) to become Atlantic Richfield or ARCO. When BP bought ARCO, it kept Richfield and sold the old Atlantic operations to Sunoco. Standard of New Jersey (which included Standard of Louisana and and Imperial Oil or Esso (Canada)) eventually became Exxon. Standard Oil of New York became Mobil, which merged with Exxon to become ExxonMobil. Standard Oil of California renamed itself Chevron, which bought Gulf and Texaco in two of the biggest mergers in history. And that leaves Standard's Continental Oil Company, better known as Conoco, now ConocoPhillips.

That should clear it up! ;-)

Tuesday, November 09, 2010 2:13:00 PM  

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