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GETTY OIL is an American oil marketing company with its origins as part of the large integrated oil company founded by the father of J. Paul Getty . As of 2012, a large majority of Getty gas stations have been closed or sold to other brands.

CONTENTS

* 1 History * 2 See also * 3 References * 4 External links

HISTORY

In Cheshire, Connecticut
Cheshire, Connecticut
, a Cheshire Getty roadside gasoline station.

Starting in 1949, J. Paul Getty
J. Paul Getty
negotiated a series of lucrative oil leases with Saudi Arabia and Kuwait. Gordon Getty and his family inherited a 40% interest in the company when J. Paul Getty
J. Paul Getty
died in 1976.

In 1984, after entering into a binding agreement to sell Getty and its 2.3-billion-barrel stockpile of proven oil reserves to Pennzoil, heir Gordon Getty struck a dramatic deal to sell the company to Texaco .

On November 19, 1985, in the case of Texaco, Inc. v. Pennzoil, Co. , Pennzoil won a US$10.53 billion verdict against Texaco
Texaco
in the largest civil verdict in U.S. history as a result of the violation of the binding agreement.

While the reserves were sold, only some of the refine