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[PART 32] (Note: ATLANTIC RICHFIELD CO., also known as ARCO, is the 7th
largest Petroleum/Chemical company in America, and part of the so- called
"7-Sisters" Oil cartels -- in this case owned and run by the Rockefellers.
On a hunch that there may be a connection between Atlantic Richfield [ARCO]
and Standard Oil [EXXON], being that both of the companies are involved in
the Oil Business, both have apparent connections to fascist
political-economic agendas, and both have large facilities in New Jersey --
I began to "surf" the Internet in hopes of finding other possible
connections. The following "history" was taken from the ARCO website, and
may be very enlightening in tying certain loose ends together... - Wol.)
may be very enlightening in tying certain loose ends together... - Wol.)
may be very enlightening in tying certain loose ends together... - Wol.)
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may be very enlightening in tying certain loose ends together... - Wol.)
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ARCO: A Time to Remember [Image]
1866 Atlantic Petroleum Storage
Company is founded. [Image] [Image]harles Lockhart and
his partners founded the Atlantic
1874 Atlantic is sold to John D. Petroleum Storage Company in
ROCKEFELLER'S Standard Oil Trust. Philadelphia in 1865. At the time,
(Later to become EXXON. - Wol.) Atlantic's business was simply to
store and ship crude and refined
1911 Standard Oil Trust is oils. In 1870 the company built a
dissolved under Sherman Antitrust refinery that could process a
Act, and Atlantic is independent record 3,000 barrels a day. Only
again. four years later it was sold to
John D. Rockefeller's vast Standard
1914-1918 Atlantic "fighting grade" Oil Trust, where it remained until
gasoline powers Allied aviators in 1911 when the Trust was dissolved
World War I. by a federal court, leaving
Atlantic on its own with no crude
1915 Atlantic opens first service oil, pipelines or tankers. This
station on Baum Boulevard in prompted Atlantic's concerned
Pittsburgh. president John Wesley Van Dyke to
tell his people: "Go find the
1917 First Richfield station at company some crude," which they
Slauson and Central Avenues in Los did, making significant discoveries
Angeles sports new Eagle trademark. in the American Southwest. During
the next few decades, Atlantic
1921 Sinclair opens first modern acquired a fleet of oil tankers,
service station in Chicago, built a network of pipelines, and
"Greasing Palace No. 1". established a system of service
stations throughout the eastern
1922 Atlantic opens Dallas office part of the nation.
in that city's first sky- scraper
the Magnolia Building. In 1963 Atlantic purchased the
Hondo Oil & Gas Company .... a
1929 Richfield builds new landmark small oil producer in the Western
12-story office tower at 6th and states .... from Robert O.
Flower Streets in Los Angeles. Anderson, who took a seat on
Atlantic's Board of Directors. Two
1931 Hit by the depression, years later, Anderson was elected
Richfield slides into receivership. chairman. A visionary business-
man, Anderson, along with President
Sinclair merges with Rio Grande Oil Thornton F. Bradshaw, guided the
and Prairie Pipeline and Prairie company through two significant
Oil and Gas Companies, and now has mergers.
largest U.S. pipeline network.
The first was with [Image]
1932 Last horse is retired from Richfield Oil
Atlantic delivery fleet. Corporation. Founded in 1905,
Richfield grew quickly into one of
1942-1945 Atlantic produces 20 the West Coast's leading gasoline
percent of Allies' World War II marketers, with its own refineries
aviation fuel. Richfield emerges as and production properties. Gas wars
a leading producer of high- octane and financial setbacks pushed
fuels. Richfield into receivership in the
early 1930s. The firm was
1942 February 23, Richfield's reorganized in 1936 and once again
Elwood Field near Santa Barbara is captured an important share of the
shelled by Japanese submarine, gasoline market. In its merger with
making Richfield first victim of Atlantic Refining Company on
attack by foreign power on U.S. January 3, 1966, Richfield brought
soil since War of 1812. along its Alaskan leases and
Prudhoe Bay exploration program,
1945 Atlantic discovers Block 31 providing the new Atlantic
Field in Crane County, Texas, using Richfield Company with a promising
highly accurate, company-developed blend of exploration and producing
seismic technology. properties.
1948 Richfield discovers Cuyama and In 1968, Atlantic Richfield (along
Russell Ranch Fields, completing 60 with its partner, EXXON) discovered
wells in 180 days. Alaska's Prudhoe Bay field, the
biggest oil strike ever in the
1952 Atlantic begins offshore Gulf Western Hemisphere. Now company
Coast production. management realized that the
organiza- tion needed expanded
1963 Atlantic acquires Hondo Oil marketing capabilities and
and Gas Company, with its newly strategically located refineries in
discovered Empire Abo field in New order to smoothly handle the huge
Mexico. volume of crude expected from
Alaska. Soon, plans were in the
1966 Atlantic merges with Richfield works for a new 100,000-barrel-a-
to form Atlantic Richfield. The day refinery at Cherry Point,
company boasts a new symbol -- the Washington.
ARCO Spark.
[Image] Merger talks heated up
1968 March 13, Prudhoe Bay No. 1 again in the late '60s,
discovers 10-billion-barrel field this time with the SINCLAIR Oil
on Alaska's North Slope. Corporation, founded by Harry F.
Sinclair in 1916. ARCO was
Corporate headquarters moves from attracted by Sin- clair's chemical
Philadelphia to New York. and refining operations as well as
its network of crude and product
1969 Atlantic Richfield acquires pipelines. The merger was completed
Sinclair, adding 300,000 barrels a in 1969. Although federal
day to the company's crude oil intervention eventually required
production. the company to sell off certain
Sinclair assets, ARCO had acquired
1972 Atlantic Richfield moves its largest refinery (Lyondell in
corporate headquarters into new Houston), taken its first step into
building on site of earlier petrochemicals, and added valuable
Richfield building in Los Angeles. acreage on the North Slope.
1973 ARCO's Cherry Point refinery In 1968, ARCO and its partner EXXON
on Puget Sound in Blaine, struck oil at Prudhoe Bay on the
Washington, goes onstream -- one of North Slope of Alaska, the biggest
the last major refineries in the oil strike ever in the Western
United States to be built from the Hemisphere. At the time,
ground up. recoverable reserves were estimated
at 9.6 billion barrels, a figure
1977 Atlantic Richfield merges with that has since increased to almost
Anaconda to become broad-based 13 billion barrels. To prepare for
"earth resources" company. the huge volume of oil that would
move through the proposed Trans
Trans Alaska Pipeline goes on Alaska Pipeline, ARCO began
stream. First tanker load of North expansion of refining and marketing
Slope crude arrives at Cherry capability on the West Coast,
Point. including construction of a new
refinery at Ferndale, Washington,
1979 The am/pm mini market and the retrofitting of the Los
franchise is introduced. Angeles Refinery in the city of
Carson. In 1972, acknowledging its
1982 ARCO ends credit card sales. new Western focus, the company
moved its headquarters from New
1983 ARCO International makes first York City to Los Angeles.
commercial offshore discovery of
gas in China near Hainan Island. The company grew through [Image]
a number of major
1984 ARCO becomes leading gasoline acquisitions. In 1977,
marketer in the West. ARCO acquired the Anaconda Company,
a large copper and aluminum
1985 ARCO restructures, reducing operator with interests in metals
workforce and divesting most of manufacturing. ARCO Coal Company's
Anaconda operations. domestic assets were acquired
beginning in the mid-1960's and
1987 ARCO Chemical stock is issued there have been several important
in a successful initial public additions since then. ARCO now has
offering in October. coal holdings in Wyoming, Colorado
and Australia. In 1995, worldwide
1988 Tricentrol acquired; expands coal shipments totaled a record
ARCO's North Sea prospects. 57.6 million tons. The Black
Thunder mine in Wyoming's Powder
1989 ARCO introduces EC-1 Regular, River Basin is the largest surface
the nation's first environ- mine in the Western Hemisphere,
mentally engineered fuel. The while the new Gordonstone longwall
initial public offering of Lyondell mine became Australia's most
Petro- chemical Company was productive coal mine in 1994.
completed in January.
The Arab oil embargo of 1973-74
1990 ARCO's net earnings top $2 marked another turning point for
BILLION for the first time. ARCO the company because it led Congress
introduced another emission-control to approve construction of the
gasoline, EC-Premium, in Southern 800-mile Trans Alaska Pipeline
California. System (TAPS), the largest
privately financed construction
1991 ARCO's emission-control project ever undertaken. ARCO is a
gasolines are credited with having 21.3 percent owner of TAPS, which
removed over 100 million pounds of in 1995 carried an average of 1.52
pollutants from entering the million barrels of crude oil and
Southern California air. Quarterly liquids per day...almost a quarter
dividends are increased to $1.375 of all U.S. production...to the
per share ($5.50 per share annual port of Valdez for loading aboard
rate). A restructure of the tankers and delivery to the Lower
company's Lower 48 oil and gas 48 states. ARCO owns 21.7 percent
operations begins, including of the Prudhoe Bay field and
property sales. operates the field's eastern half.
The company also owns 55 percent of
1992 Sales agreement completed for the Kuparuk River field, America's
the South China Sea gas to be piped second largest oil field 30 miles
to Hong Kong for electric power west of Prudhoe Bay, and has a 30.1
generation. Natural gas field percent working interest in the
developments also underway in Point McIntyre field which began
Indonesia. production in 1993. Point McIntyre
has approximately 340 million
ARCO's West Elk underground coal barrels of gross reserves.
mine in Colorado starts up a new
long-wall mining system, one of the Over the years, ARCO has made giant
largest longwall units in the U.S. strides in a number of areas.
Domestically, ARCO's gasoline
1993 Natural gas from ARCO's marketing operation is the envy of
facilities in the Java Sea began the industry. During the 1980s,
moving to power plants serving ARCO Products Company, ARCO's
Jakarta in September. Production refining and marketing division,
began from ARCO's Gordonstone coal inaugurated a high-volume,
mine in Australia. low-price marketing strategy that
increased the company's gasoline
Lower 48 oil and gas business is market share in California from
restructured and divided into four about 10 percent to 20 percent in
discrete business units -- ARCO 1992, an unprecedented gain in the
Permian, ARCO Western Energy, ARCO retail gasoline market.
Long Beach, Inc., and Vastar
Resources, Inc. With the [Image] ARCO is now the number
reorganization, ARCO eliminated ONE gasoline retailer in
1,300 jobs and the downtown Dallas its five-state marketing area
headquarters for Lower 48 (California, Nevada, Oregon,
operations. Washington and Arizona). The
centerpiece of ARCO's strategy was
In Alaska, the Point McIntyre field the 1982 decision to eliminate the
started up as did West Beach and ARCO credit card and pass along the
North Prudhoe Bay State. All three savings to customers. ARCO's am/pm
fields use the Lisburne Production mini market franchise, begun in
Center and together they are called 1980, has also proved highly
the Point McIntyre Area fields. The successful with its combination of
first phase of a major gas handling quality food and convenience store
expansion (GHX-2) is completed at items. Am/pm's can now be found in
Prudhoe Bay. nine countries around the [Image]
globe. In 1986, the
1994 Pagerungan natural gas field company introduced the
begins sales to customers on East PayPoint Network, allowing
Java, including the power plant customers to buy gasoline and food
that serves Surabaya, Indonesia's store items with ATM debit cards.
second largest city.
In 1989 ARCO took a bold step into
Vastar Resources, Inc. completed a the future, becoming the first oil
public offering of 17 million company to market a clean-burning
shares of its common stock. The reformulated gasoline, EC-1
second phase of GHX-2 was completed Regular, aimed at reducing
at Prudhoe Bay. pollution from older cars and
trucks in the Southern California
ARCO's Los Angeles refinery area. The following year ARCO
completed modifications to meet [Image] enhanced its clean-fuel
federal Clean Air Act requirements leader- ship by
for gasoline and stationary introducing a
emissions. ARCO's Southern reformulated premium gasoline. An
California stations introduce even cleaner- burning gasoline will
mid-grade unleaded gasolines, along be marketed in California in 1996.
with meeting the federal standards.
When oil prices plummeted in 1986,
ARCO cost reduction program the company was prepared for the
announced with $400 million in worst, thanks to far-sighted
annual savings (compared to 1993) decisions made a year earlier. With
by 1996. Workforce reductions much of its metals and minerals
extended to Alaska, coal, refining holdings from the Anaconda
and marketing, corporate and acquisition already divested, ARCO
transportation units. underwent a massive restructur- ing
in 1985 that included a $4 billion
1995 Yacheng 13-1 natural gas field stock buy-back program, a $700
development completed. Testing of million reduction in operating
480-mile subsea pipeline from the costs, and the sale of more than
South China Sea to Hong Kong $3.2 billion in assets, including
started in October. The ARCO's entire petroleum refining
ARCO-discovered and developed field and marketing operation east of the
is China's largest offshore energy Rockies and hundreds of domestic
development and the pipeline to oil and gas producing properties
Hong Kong is the second longest in that were not contributing
the world. adequately to profits.
1996 Official startup of the Leading the company through this
Yacheng 13-1 gas field takes place transformation was Lodwrick M. Cook
in January with celebratory events who succeeded William F.
in Beijing, Hainan Island and Hong Kieschnick, who had assumed the
Kong. presidency in 1981 following the
retirement of Thornton F. Bradshaw.
ARCO signs Production Sharing In January 1986 Cook became
Contract with Sonatrach, the chairman and CEO upon the
Algerian state oil company, to retirement of Robert O. Anderson.
undertake a major Enhanced Oil In June 1993, Mike R. Bowlin became
Recovery project in Algeria's president and COO, then CEO on July
second largest oil field, Rhourde 1, 1994, and chairman on July 1,
El Baguel. 1995, following Cook's retirement.
Today, ARCO stands poised for major
expansion overseas through an
aggressive exploration program
underway in several countries. ARCO
is a major gas producer in China,
the United Kingdom North Sea and a
major oil and gas producer in
Indonesia. In 1992, the company
signed an agreement with the
People's Republic of China to
develop a South China Sea natural
gas field with an estimated 3
trillion gross cubic feet of gas
reserves discovered by ARCO nine
years earlier. ARCO is operator and
34.3 percent partner in the China
project. A 480-mile pipeline to
Hong Kong was completed in late
1995, and start-up of the field
took place in January 1996.
In another milestone development
(February 1996), ARCO signed a
production sharing contract with
Sonatrach, the Algerian state oil
company, to undertake a major
Enhanced Oil Recovery project at
Rhourde El Baguel, Algeria's second
largest oil field. In addition to a
$225 million bonus payment to
Sonatrach, ARCO will invest over
$1.3 billion in the project. EOR
efforts should yield over 500
million total barrels of crude oil
equivalent. ARCO will receive up to
49% of the project's annual
production.
ARCO has clearly identified itself
as a hydrocarbon-based company,
focusing on crude oil, natural gas,
chemicals and coal. ARCO's
corporate philosophy is one that
demands quality performance with an
emphasis on a strong bottom line.
ARCO's resources operations include
ARCO Alaska, Inc., ARCO
International Oil and Gas Company,
Vastar Resources, Inc. (in which
ARCO has an 82.3 percent interest),
ARCO Permian, ARCO Western Energy,
ARCO Long Beach, Inc., ARCO Coal
Company, and ARCO Exploration and
Production Technology.
Downstream operations include ARCO
Products Company and ARCO
Transporta- tion Company. ARCO also
has a 49.9 percent ownership
interest in Lyondell Petrochemical
Company, an 82.9 percent ownership
interest in ARCO Chemical Company,
a world leader in the manufacture
of propylene oxide and MTBE, an
octane- enhancing oxygenate widely
used in cleaner burning gasolines,
a 9.9 percent ownership interest in
Zhenhai Refining and Chemical
Company in the People's Republic of
China, and a 6 percent interest in
LUKoil, Russia's largest petroleum
company.
ARCO is the seventh largest oil
company in the United States
(Fortune 500) with total revenues
in 1995 of $18.2 billion and assets
of $24 billion. In 1995, the
company reported earnings of $1.376
billion and earnings per share of
$8.42.
For a printed copy please call
213/486-3463.
[Image] [Image] [Image]
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Copyright© 1995 - ARCO, the Atlantic Richfield Company -- All Rights
Reserved
ARCO 515 South Flower Street, Los Angeles, CA 90071-2256 (213) 486-3511
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