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In The Giver by Lois Lowry, Jonas meets Larissa, who lives in the House of Old, when he is Before the Old are released, the elders tell the person's life story.

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How to Buy the Best Motor Oil for Your Car

Open Hours Do you know the hours for this business? Oil production started from Rawdhatain in and Minagish in KOC started gas production in It was the cheap oil and gas being shipped from Kuwait that formed the economic basis for Gulf's diverse petroleum sector operations in Europe, the Mediterranean, Africa, and the Indian subcontinent. Jones facilitated the expansion of crude oil import from Kuwait , a nation that was - at the time - a yet incipient supply region to the United States.

This expansion program implemented by Robert E. Garret and Jones consisted of construction of a fleet of supertankers and was meant to "result in a sharp increase in the processing of crude oil and various petroleum products at a time when the domestic demand for such products was at an unprecedented peak. Gulf expanded on a worldwide basis from the end of the Second World War. The company leveraged its international drilling experience to other areas of the world, and by mid had established a presence in the eastern oil fields of Venezuela as Mene Grande Oil Company.

Much of the company's retail sales expansion was through the acquisition of privately owned chains of filling stations in various countries, allowing Gulf outlets to sell product sometimes through "matching" arrangements from the oil that it was "lifting" in Canada, the Gulf of Mexico, Kuwait, and Venezuela. Some of these acquisitions were to prove less than resilient in the face of economic and political developments from the s on. Gulf invested heavily in product technology and developed many specialty products, particularly for application in the maritime and aviation engineering sectors.

It was particularly noted for its range of lubricants and greases. Gulf Oil reached the peak of its development around In that year, the company processed 1. Through its subsidiary, Gulf General Atomic Inc. The Kuwaitis took over the rest of the equity in , giving them full ownership of KOC.

This meant that Gulf EH had to start supplying its downstream operations in Europe with crude bought on the world market at commercial prices. Many of the marketing companies that Gulf had established in Europe were never truly viable on a stand-alone basis. In during the nationalization of Venezuelan oil, the transfer of properties, benefits, equipment of Gulf Oil to PDVSA was carried out without any setback and with full satisfaction on both parts. Gulf was at the forefront of various projects in the late s intended to adjust the world oil industry to developments of the time including closure of the Suez Canal after the war.

In , the Universe Ireland was added to Gulf's tanker fleet. Gulf also participated in a partnership with other majors, including Texaco , to build the Pembroke Catalytic Cracker refinery at Milford Haven and the associated Mainline Pipelines fuel distribution network. The eventual reopening of the Suez canal and upgrading of the older European oil terminals Europoort and Marchwood meant that the financial return from these projects was not all that had been hoped for. The Bantry terminal was devastated by the explosion of a Total tanker, the Betelgeuse , in January Whiddy Island disaster and it was never fully reopened.

The Irish government took over ownership of the terminal in and held its strategic oil reserve there. In the s, Gulf participated in the development of new oilfields in the UK North Sea and in Cabinda , although these were high-cost operations that never compensated for the loss of Gulf's interest in Kuwait. A mercenary army had to be raised to protect the oil installations in Cabinda during the Angolan civil war. In , several senior Gulf executives, including chairman Bob Dorsey, were implicated in the making of illegal "political contributions" and were forced to step down from their positions.

Gulf's operations worldwide were struggling financially in the recession of the early s, so Gulf's management devised the "Big Jobber " strategic realignment in along with a program of selective divestments to maintain viability. The Big Jobber strategy recognized that the day of the integrated, multi-national oil major might be over, since it involved concentrating on those parts of the supply chain where Gulf had a competitive advantage.


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  • In the late s, Gulf's aviation manager, Maj. Alford J. Williams, had the Grumman Aircraft Engineering Corporation construct two modified biplanes, cleaned-up versions of the Grumman F3F Navy fighter, for promotional use by the company. Williams flew it on a tour of Europe. A second scavenger pump and five drain lines were added to the engine installation that allowed the aircraft to be flown inverted for up to thirty minutes.

    The company used the connection to its advantage by offering giveaway or promotional items at its stations, including sticker sheets of space mission logos, a paper punch-out lunar module model kit , and a book titled "We Came in Peace," containing pictures of the Apollo 11 moon landing. Disney magazines and activity books were often given away with a gas fill-up.

    Gulf was also noted for its "Tourgide" road maps. Gulf Oil was most synonymous for its association with auto racing , as it famously sponsored the John Wyer Automotive team in the s and early '70s. The signature light blue and orange color scheme associated with its Ford GT40 and Porsche is one of the most famous corporate racing colors and has been replicated by other racing teams sponsored by Gulf. Much of its popularity is attributed to the fact that in the film Le Mans , Steve McQueen 's character, Michael Delaney , drives for the Gulf team.

    As a result of McQueen's increasing popularity following his death and the increasing popularity of the Heuer Monaco which he wore in the film, TAG Heuer released a limited edition of the watch with the Gulf logo and trademark color scheme. From to , Gulf Oil had a formal agreement with Holiday Inn , the world's largest lodging chain, for which Holiday Inns in the U.

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    In return, Gulf placed service stations on the premises of many Holiday Inn properties along major U. Many older Holiday Inns still have those original Gulf stations on their properties, some in operation and some closed, but few operate today as Gulf stations. Gulf No-Nox gasoline was promoted with a bucking horse leaving an imprint of two horseshoes. Several promotions centered on the two horseshoes.

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    In bright orange 3-D plastic self-adhesive horseshoes for car bumpers were given away. Another popular giveaway was during the election season, gold horseshoe lapel pins featuring either a Democratic donkey or a Republican elephant. By , Gulf exhibited many of the characteristics of a giant corporation that had lost its way.

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    It had a huge but poorly performing asset portfolio, associated with a depressed share price. The stock market value of Gulf started to drop below the break-up value of its assets.

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    Such a situation was bound to attract the interest of corporate raiders , although a corporation in the top of the Fortune was in the early s thought immune to takeover risk. Its undoing as an independent company began in when T. Boone Pickens , [35] an Amarillo , Texas oilman and corporate raider or greenmailer , and owner of Mesa Petroleum, made an offer for the comparatively larger but still considered "non-major" oil company Cities Service Company more generally known by the name Citgo from Tulsa , Oklahoma, which was then trading in the low 20s.

    Once Pickens was gone, Gulf reneged on its buyout offer, supposedly over a dispute regarding accuracy of Cities Service's reserves, and the stock price of Cities plunged, triggering stockholder lawsuits as well as distrust for Gulf's management on Wall Street and among financing investment banks who bet big in assisting Gulf to defeat Mesa only to be left broke when Gulf backed out.

    With declining margins in the industry and left without Citgo's reserves, Mesa and its investor partners kept hunting for a takeover target, only to discover while fighting Gulf for Citgo how increasingly top-heavy its portfolio and declining reserves were undervaluing its overall assets. They subtly but quickly acquired 4.


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    • In the ten days allowed to prepare the SEC filing, Mesa and its investor partners accelerated buying to 11 percent of the company's stock, larger than the founding Mellon family's share, by October Gulf responded to Mesa's interest by calling a shareholders' meeting for late November and subsequently engaged in a proxy war on changing the corporation's by-laws to minimize arbitrage.

      Pickens made loud criticisms of the existing Gulf management and offered an alternative business plan intended to release shareholder value through a royalty trust that management argued would "slim down" Gulf's market share. Pickens had acquired the reputation of being a corporate raider whose skill lay in making profits out of bidding for companies but without actually acquiring them. The process of making such bids would promote a frenzy of asset divestiture and debt reduction in the target companies. This is a standard defensive tactic calculated to boost the current share price, [ citation needed ] although possibly at the expense of long-term strategic advantage.