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In 1987 BP acquired the remainder of the Standard Oil Company for almost $8 billion reinforcing its position as one of the largest oil companies in the world.
Amoco Corporation formerly Standard Oil Company, American petroleum corporation, was founded in 1889 by the Standard Oil trust to direct the refining and marketing of oil in the Midwestern states. The company's first refinery, outside Whiting, Ind., produced fuel oil, kerosene, and other petroleum products. Around 1910 Standard Oil developed the cracking process, which became the most important method fro producing gasoline from petroleum...
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