Monday, November 7, 2022

History of Mobil Oil Corporation

The history began in 1870 when John D. Rockefeller and his associates formed the Standard Oil Company (Ohio).

In 1911, following a landmark U.S. Supreme Court decision, Standard Oil breaks up into 34 unrelated companies, including Jersey Standard, Socony and Vacuum Oil. Vacuum Oil Company, was founded in 1866 and, after 1882, became part of the Standard Oil Company and Trust. Standard Oil Company of New York (Socony), established by the trust in 1882.

Socony merged with Vacuum Oil Company, from which the Mobil name first originated, in 1931 and subsequently renamed itself to Socony-Vacuum Oil Company. The name was changed in 1955 to Socony Mobil Oil Company, Inc., and then in 1966 to Mobil Oil Corporation.

In 1974 Mobil introduces a synthetic automotive engine lubricant — Mobil 1. Mobil in 1974 diversified its activities into retail sale and packaging by acquiring the parent company of Montgomery Ward and Container Corporation of America.

In 1976, Mobil invented a process for converting methanol into high-octane gasoline. Today, all North American gasoline contains octane and gasoline grades are based on octane ratings.

Mobil sold the Container Corporation of America in 1986 and sold Montgomery Ward & Co. in 1988, thus clearing the way for Mobil to concentrate on its core businesses of petroleum extraction, processing, and distribution.

In 1994, Mobil established a subsidiary MEGAS (Mobil European Gas), which became responsible for Mobil's natural gas operations in Europe. In 1996, Mobil and BP merged their European refining and marketing of fuels and lubricants businesses.

In 1998, Mobil announced it was merging with Exxon to form ExxonMobil, reuniting the two largest descendants of Standard Oil. After the merger all products bearing the Mobil brand name retained the company’s long-standing logo of Pegasus, the winged horse.
History of Mobil Oil Corporation

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