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The Pan American Petroleum and Transport Company (PAT) was an oil company founded in 1916 by the American oil tycoon Edward L. Doheny after he had made a huge oil strike in Mexico. Pan American profited from fuel demand during World War I, and from the subsequent growth in use of automobiles.
Standard bought an interest in the Pan American Petroleum & Transport Company in 1925. The interest, costing $37.6 million, was the largest oil consolidation in the history of the industry, giving Standard (Indiana) access to one of the world's largest tanker fleets and entry into oil fields in Mexico, Venezuela, and Iraq.
14 avr. 2024 · The Pan American Petroleum and Transport Company (PAT) was an oil company founded in 1916 by the American oil tycoon Edward L. Doheny after he had made a huge oil strike in Mexico. Pan American profited from fuel demand during World War I, and from the subsequent growth in use of automobiles.
In 1925, it bought a stake in the Pan American Petroleum and Transport Company (PAT). The acquired company had previously bought a half interest in the American Oil Company, which marketed half of PAT's oil in the United States.
The Pan American Petroleum and Transport Company (PAT) was an oil company founded in 1916 by the American oil tycoon Edward L. Doheny after he had made a huge oil strike in Mexico. Pan American profited from fuel demand during World War I, and from the subsequent growth in use of automobiles.
Standard bought an interest in the Pan American Petroleum & Transport Company in 1925. The interest, costing $37.6 million, was the largest oil consolidation in the history of the industry, giving Standard (Indiana) access to one of the world's largest tanker fleets and entry into oil fields in Mexico, Venezuela, and Iraq.
In response to this challenge, the Pan American Petroleum and Transport Company, which held a lease on a significant area of Lake Maracaibo, founded Lago Petroleum Corporation (1923–1932). This corporation's primary purpose was to operate lake tankers responsible for transporting the crude oil from Lake Maracaibo to Aruba.
