Pennzoil is an American oil company founded in Los Angeles, California
in 1913. In 1955, it was acquired by
Oil City, Pennsylvania
Oil City, Pennsylvania company
South Penn Oil, a former branch of Standard Oil. In 1963, South Penn
Oil merged with Zapata Petroleum; the merged company took the Pennzoil
name. In 1968
United Gas Corporation
United Gas Corporation became part of Pennzoil.
(Although United Gas was a larger company, pre-merger,
successfully used a "leveraged buyout" strategy.) During the 1970s,
the company moved its offices to Houston, Texas. In 1977 a spin-off
company was formed called Pogo, which stood for
Pennzoil Offshore Gas
Pennzoil was headquartered in
Pennzoil Place in Downtown Houston
during the 1970s. In 1999 Pennzoil's E&P business (known as
PennzEnergy) was acquired by Oklahoma City-based
Devon Energy and the
now known as Pennzoil-Quaker was purchased by Royal Dutch/Shell Group
to form SOPUS—Shell Oil Products US.
2 Commercial automotive and motorcycle partnerships
4 Pennzoil, Co. v. Texaco, Inc.
5 See also
7 External links
Though not much emphasis has ever been placed on gasoline, Pennzoil
does sell gas. In the early parts of the company's history, the gas
stations were branded as Pennzip, though they were later changed to
Pennzoil. For decades,
Pennzoil gas stations were mostly marketed in
western Pennsylvania, western New York, northern and eastern Ohio, and
northern West Virginia.
In the 1990s,
Pennzoil gas experienced a bit of a revival when
Pittsburgh area convenience store chain Cogo's began co-branding
themselves with Pennzoil. The co-branding lasted only a few years, and
Cogo's switched brands to BP and
Exxon in 2001.
After Shell's purchase of Pennzoil, there was the possibility that the
Pennzoil stations—mostly in western PA—would be
converted to Shell as part of the company's aggressive movement to
expand nationally. This hasn't happened, but the three company-owned
Pennzoil gas stations in the
New Castle, Pennsylvania
New Castle, Pennsylvania area began
co-branding themselves with
7-Eleven in 2003, with more emphasis
placed on the
7-Eleven brand name than
As of June 2009, only one Pennzoil/
7-Eleven combination remains, as
another converted to BP in 2006 while retaining
7-Eleven (a Pennzoil
Ambridge, Pennsylvania also converted to BP at the same time). On
June 8, 2009, the other Pennzoil/
7-Eleven was sold to private owners
and became an independent, unbranded location. There is also a
Pennzoil station in Ashtabula,
Ohio right off of
Commercial automotive and motorcycle partnerships
Pennzoil is an official long-term recommended motor oil of all FIAT
Chrysler Automobiles companies (including all of subsidiaries), BMW,
Mini, Rolls-Royce, Hyundai, Chevrolet, Ford,
automobiles in United States.
Pennzoil is also an official long-term
recommended motorcycle engine oil of
Ducati for motorcycles in United
USAC National Championship
USAC National Championship drivers
Al Unser and
Johnny Rutherford were
Pennzoil in the Chaparral team. Rutherford won the
Indianapolis 500 and the championship in 1980. From 1983 to 1990,
Pennzoil sponsored the
Team Penske driver
Rick Mears during his CART
World Series campaign, winning the 1984 and 1988 Indianapolis 500.
IndyCar Series driver
Sam Hornish Jr.
Sam Hornish Jr. drove for Pennzoil-sponsored
Panther Racing from 2001 to 2003. Since 2011,
Team Penske driver
Hélio Castroneves hast been sponsored part-time by Pennzoil, most
notably at the Indianapolis 500. Pennzoil's yellow car livery has been
nicknamed the "Yellow Submarine".
NASCAR Cup Series,
Dale Earnhardt, Inc.
Dale Earnhardt, Inc. had a
Pennzoil sponsorship for
Steve Park in their No.1 car from 1998 to
Richard Childress Racing
Richard Childress Racing driver
Kevin Harvick had a Pennzoil
sponsorship from 2007 to 2010.
Penske Racing took over the Pennzoil
sponsorship in 2011 with
Kurt Busch and in 2012, it was moved over to
A. J. Allmendinger
A. J. Allmendinger and to
Joey Logano in 2013. In 2018, it will
sponsor the Las Vegas
NASCAR Cup Series spring race,
Pennzoil was the title sponsor of the Grand Prix of
Houston in 2013.
Pennzoil also has been the official motor oil of German-American GTLM
Rahal Letterman Lanigan Racing
Rahal Letterman Lanigan Racing since 2015 season and
Formula One outfit
Haas F1 Team
Haas F1 Team since 2016 season.
Pennzoil, Co. v. Texaco, Inc.
Pennzoil made an informal but binding contract with Getty Oil
to purchase a large portion of Getty Oil, in order to give Pennzoil
rights to Getty's oil deposits. Following the deal, the
company, operating under the belief the deal was not yet final,
encroached on the complex merger in an attempt to acquire Getty for
Texas state court, alleging that Texaco
tortiously induced Getty to breach the contract with Pennzoil. At
first it was adjudicated by Judge Anthony J.P. Farris; it was finished
by visiting Judge Solomon (Sol) Casseb of San Antonio. A jury awarded
Pennzoil, represented by
Joe Jamail and Baine Kerr, $7.53 billion in
compensatory damages and $3 billion in punitive damages. Under Texas
Pennzoil could secure a lien on all of Texaco's property in the
Texaco posted a bond that covered the judgment,
interests and costs of the lawsuit (estimated to be $13 billion).
Before judgment could be entered in the
Texas court and
obtain a lien,
Texaco filed a suit in the U.S. District Court for the
Southern District of New York, alleging that the
violated Texaco's constitutional rights. The District Court found for
Texaco, and the Second Circuit affirmed.
Pennzoil appealed the
federal court case to the
United States Supreme Court. Laurence H.
Tribe argued for Pennzoil, whereas
David Boies argued for Texaco. The
Supreme Court reversed the circuit court decision, on the grounds that
the New York court should have abstained interfering with the decision
of a state court.
Texaco also appealed the
Texas state court decision. The
of Appeals upheld the jury verdict, but found that the trial court had
abused its discretion by not suggesting a remittitur (reduction of
damages). It would allow the verdict to stand if
Pennzoil filed a
remittitur of two billion dollars, making the punitive damages award
$1 billion. Compensatory damages of $7.53 billion remained
Pennzoil paid Mr. Jamail $335 million and Mr. Kerr $10
million for the victory.
Texaco filed for bankruptcy,
Pennzoil agreed to settle the case
for $3 billion. 
Shell Oil Company
Windmill Quaker State
Texas State Historical Association (together with the
University of North Texas's "University Libraries"). Retrieved
December 19, 2013. In 1965 the Liedtke brothers achieved the dramatic
takeover of United Gas Corporation, a company five times the size of
Pennzoil. Among United Gas Corporation's affiliates were the United
Gas Pipeline Company of Shreveport, [...] Union Producing Company;
Duval Corporation, [...] and Atlas Processing Company. In 1968 United
Gas was merged into Pennzoil, and the firm was renamed Pennzoil
^ "W.C. Liedtke; Co-Founder of Pennzoil".
Los Angeles Times. 4 March
^ "General Conditions and Legal Notices." Pennzoil. February 14, 1998.
Retrieved on January 17, 2010.
^ Petzinger, Jr., Thomas (1988). Oil and Honor The TEXACO-PENNZOIL
Wars. New York, New York: Berkley. ISBN 0-425-11172-5.
^ Beatty, Jeffrey (2008). Legal Environment. Mason, Ohio:
South-Western Cengage Learning. p. 144.
Pennzoil Co. v.
Texaco Inc., 481 US 1, 5 (1987).
Pennzoil Co. v.
Texaco Inc., 481 US 1, 5,6 (1987).
Pennzoil Co. v.
Texaco Inc., 481 US 1, 10-18 (1987).
^ Texaco, Inc v.
Pennzoil Co., 729 SW 2d 768, 785, 866 (1987).
^ Lewin, Tamar (December 19, 1987). "Pennzoil-
Texaco Fight Raised Key
Questions". New York Times. Retrieved March 3, 2013.
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