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The Shell Martinez Refinery in Martinez, California, the first Shell refinery in the United States, supplied Shell and Texaco stations in the West and Midwest [12] until its sale to PBF Energy in 2020. [13] Shell fuel previously included the RU2000 and SU2000 lines (later there was a SU2000E) but they have been superseded by the V-Power line. [14]
Aera is operated as a stand-alone company through its board of managers. In August 2022, IKAV, a European investment company, announced it was buying Aera from Shell and ExxonMobil. [2] [3] In July 2024, California Resources Corporation completed a $2.1 billion, all-stock purchase acquisition of Aera. [4] [5]
Meanwhile, in the United States, the Shell Chemical Company (founded 1929) began the world's first production of ammonia from natural gas in California in 1931. It also started production of chemical solvents from refinery gases in California during the early 1930s, while in 1942, it pioneered the production of butadiene , a key raw material ...
Exxon Mobil Corp has joined Shell Plc in seeking to divest their Aera joint venture, and the duo are in advanced talks with a buyer for the California oil and gas producer, three people with ...
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The company had 3,165 employees as of 2017 with annual revenue of $21,787 million. [14] In June 2019, PBF agreed to purchase Shell's Martinez, California oil refinery. [15] The sale was finalized Feb. 1, 2020. [16]
A SPAC is a business with no hard assets or sales — but lots of cash to acquire another company or companies to be named later, after investors have already put down millions of dollars. Niron ...
The Shell Martinez Refinery, in Martinez, California, has operated continuously since its construction in 1915. The first known US petroleum refiner was Samuel Kier of Pittsburgh, who in the 1850s produced an illuminating oil for miners' lamps. American petroleum refining largely grew out of oil shale refining.