The British Petroleum-Amoco merger got the ball rolling, and now Exxon and Mobil want to merge.
How Sir John Browne turned BP Amoco into the hottest prospect in the oil patch.
In 1980 Amoco found a billion-barrel oilfield that extended onto a ranch Anschutz owned straddling the Utah-Wyoming border.
Amoco Eurasia is a leading member of the Azerbaijan International Operating Company (AIOC) consortium developing Azerbaijan's oil reserves.
On his first day of work at Amoco in Chicago, he had to walk through a Jane Fonda rally.
WSJ: The Weekend Interview with Bob Dudley: Three Years After the Spill, BP Gets Bullish
No matter that Dudley has been with BP for a decade, having come over in the 1998 acquisition of Amoco.
The London-based BP Amoco once confined its efforts to buying small stakes in the deepwater forays led by bigger rivals.
Gibbs grew up near Alvin, Tex. in Amoco company housing on the Hastings oilfield, where his dad was a production engineer.
China's winning flush hinged on three cards the multinational giants -- Amoco, Texaco and a Unocal-Petronas venture -- just could not match.
He purchased rivals such as Amoco but failed to integrate them properly.
BP-Amoco, Texaco and Chevron, are scrambling for a share of the equity.
Rockefeller's Standard Oil in 1912 resulted in no less than 38 separate companies, including such energy industry giants as Amoco, Chevron and Exxon.
For BP Amoco's soft-spoken CEO, Sir John Browne, deep water offers the prospect of the largest untapped reserves and the lowest-cost means of extraction.
The name BP Amoco Arco Burmah Castrol shows the extent of one oil giant's merger activity, before it wisely chose to rename itself BP.
The same logic would presumably apply to Amoco's flair for retailing.
Don Stacy , Chairman and President of Amoco Eurasia Petroleum Corporation.
The RSPB says this incident is "far worse than the Amoco Cadiz spill" of 1978, which involved more than 230, 000 tonnes of oil off north Brittany.
But for BP Amoco, such deepwater oilfields are the only chance of finding enough crude to replace declining reserves in less remote parts of the world.
"What surprised people was that they got both rather than either one, " says Ray Leonard, vice president of Amoco Kazakstan, which lost out despite aggressive lobbying.
In exchange, the Chinese oil firm signed a letter of intent with BP Amoco calling for the establishment of a gas-marketing joint venture in eastern China.
Oil giants BP Amoco and Shell also fell sharply, carving 19 points from the FTSE 100 as a dip in crude prices sparked a bout of profit-taking.
He shocked the industry with his acquisition last August of America's Amoco, setting off a round of mergers that included the marriage of Exxon and Mobil last December.
One thing Dudley has going for him is that he was not brought up within BP culture, coming instead to the company via its acquisition of Amoco a decade ago.
The ship, named the Schiehallion after a mountain on the Scottish coast, is the only visible sign of what lies 365 meters below:a 500-million-barrel oilfield that BP Amoco has discovered and developed.
Mr. Dudley, who came to the British company via its 1998 Amoco acquisition, previously was newsworthy for his role in managing BP's fabulously lucrative yet surreal joint venture with four Russian oligarchs.
WSJ: The Weekend Interview with Bob Dudley: Three Years After the Spill, BP Gets Bullish
"The principal motivation and the primary competitive justification for BP-Amoco and Exxon-Mobil is to gain the necessary scale to undertake larger and riskier global exploration and development projects that become available, " says Philip K. Verleger Jr.
The company was forced to sell off 90% of the production, ceding control to BP Amoco, in order to finance a multibillion-dollar project that included pipelines to carry the oil 500 miles from the Andes to Colombia's coast.
It was forced to sell off 90% of the production, ceding control to BP Amoco, in order to finance a multibillion-dollar project that included pipelines to carry the oil 800 kilometers from the Andes to the coast of Colombia.
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