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Gordon Getty and his family inherited a 40% interest in the company when J. Paul Getty died in 1976. [2] [3] In 1984, after entering into a binding agreement to sell Getty and its 2.3-billion-barrel stockpile of proven oil reserves to Pennzoil, Gordon Getty struck a dramatic deal to sell the company to Texaco. [4]
In 1984, Pennzoil made an informal but binding contract with Getty Oil to purchase a large portion of Getty Oil to give Pennzoil rights to Getty's oil deposits. [6] Following the deal, the Texaco oil company encroached on the complex merger in an attempt to acquire Getty for itself. [7] Old Pennzoil motor oil can
The refinery was commissioned in 1956 and Getty Oil operated it up until 1984, when Texaco bought Getty. In 1988, Star Enterprises, a company started when Saudi Aramco bought half interest, took over the refinery until 1998, when Motiva Enterprises, a joint venture between Star (Saudi Aramco) and Shell, operated it. [3]
In 1986, 10 years after the death of his father, Gordon sold Getty Oil to Texaco for $10 billion. Gordon had four sons, as far as was known to the outside world. In 1999, however, the news emerged ...
Skelly Oil Company was a medium-sized oil company founded in 1919 by William Grove (Bill) Skelly, Chesley Coleman Herndon and Frederick A. Pielsticker in Tulsa, Oklahoma. [ 1 ] [ 2 ] J. Paul Getty acquired control of the company during the 1930s.
The Getty Building is a 22-story former office tower in Los Angeles, California. The building was a project of J. Paul Getty and upon completion served as the head office of Getty Oil. The architect for the structure was Claud Beelman whose design was in a New Formalist mode. Construction began on March 14, 1961, and the building opened ...
The grandson of J. Paul Getty died in November at age 52. For premium support please call: 800-290-4726 more ways to reach us
Warren Buffett, known as The Oracle of Omaha, increased his stake in oil and gas company Occidental Petroleum on Dec. 11 and Dec. 12, buying an additional 10.5 million shares for $590 million,...