Ultramar plc was a leading
British
British may refer to:
Peoples, culture, and language
* British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies.
** Britishness, the British identity and common culture
* British English, ...
oil
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...
and
gas
Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma).
A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or ...
exploration
Exploration refers to the historical practice of discovering remote lands. It is studied by geographers and historians.
Two major eras of exploration occurred in human history: one of convergence, and one of divergence. The first, covering most ...
and
production
Production may refer to:
Economics and business
* Production (economics)
* Production, the act of manufacturing goods
* Production, in the outline of industrial organization, the act of making products (goods and services)
* Production as a stati ...
business. It was listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
and was a constituent of the
FTSE 100 Index.
History
The Company was founded by four
South Africa
South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ...
n goldmining concerns in 1935 to explore for
oil
An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...
in
Venezuela
Venezuela (; ), officially the Bolivarian Republic of Venezuela ( es, link=no, República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in th ...
and initially traded as the ''Ultramar Exploration Co. Ltd''. It changed its name to the ''Ultramar Co. Ltd'' in 1940.
It established an operation in
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
, now known as
Ultramar Corporation, in 1961.
[
In 1988 it substantially expanded its operations in ]California
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...
acquiring a large refinery
A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value.
Types of refineries
Different types of refineries ...
in Los Angeles
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...
from Union Pacific Corporation
The Union Pacific Corporation (Union Pacific) is a publicly traded railroad holding company. It was incorporated in Utah in 1969 and is headquartered in Omaha, Nebraska. It is the parent company of the current, Delaware-registered, form of the ...
for $440m.Acquisition Set By Ultramar
New York Times, 9 September 1988
The Company was acquired by
LASMO
Lasmo plc was a British oil and gas exploration and production business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.
History
The Company was founded in 1971 as London and Scottish Marine Oil (LASMO) t ...
in 1991.
[
]
References
Further reading
* Atterbury, Paul and MacKenzie, Julia ''A Golden Adventure: the First 50 Years of Ultramar'', London, Hurtwood Press, 1985
{{Authority control
Energy companies established in 1935
Companies formerly listed on the London Stock Exchange
Defunct companies based in London
Defunct oil companies
Defunct oil and gas companies of the United Kingdom
Non-renewable resource companies established in 1935
1935 establishments in England
1991 disestablishments in England
Companies disestablished in 1991