Editing Amoco (section)

=== Merger with BP ===
By the end of the 1990s, worldwide oil prices had slumped to their lowest point in over a decade. Amoco, the fourth largest US oil producer at the time, reported a 50% fall in earnings in second quarter of 1998. Analysts believed Amoco was hurt by its lack of international refining. On August 11, 1998, Amoco announced it would merge with [[BP]] in the world's largest industrial merger.<ref name=":9">{{Cite web |date=August 11, 1998 |title=BP and Amoco in oil mega-merger |url=http://news.bbc.co.uk/2/hi/business/149139.stm |access-date=2024-10-24 |website=BBC}}</ref>  

Though billed as a merger of equals, BP held control of the new entity. Shareholder control was split 60/40 in favor of BP shareholders. The new company was also based on London, where BP was based, with BP chief executive Sir [[John Browne, Baron Browne of Madingley|John Browne]] running the company. BP chairman Peter Sutherland and Amoco chairman Larry Fuller served as co-chairs. The consolidated company would also cut 6,000 jobs worldwide.<ref name=":9" />  

The new company made efforts to further consolidate by announcing the acquisition of [[ARCO|Atlantic Richfield Company (ARCO)]] for $26.8 billion in April 1999.<ref>{{Cite web |last= |first= |date=1999-04-01 |title=BP Amoco Acquires Arco - CBS News |url=https://www.cbsnews.com/news/bp-amoco-acquires-arco/ |access-date=2024-10-25 |website=www.cbsnews.com |language=en-US}}</ref> However, it wasn't until BP Amoco agreed to divest ARCO's Alaska holdings that the FTC approved the deal a year later. The company then cut 2,000 jobs.<ref>{{Cite web |date=April 13, 2000 |title=FTC approves BP Amoco, Arco mega-merger - Apr. 13, 2000 |url=https://money.cnn.com/2000/04/13/deals/bpamoco/# |access-date=2024-10-25 |website=money.cnn.com}}</ref> 

In August 1999, BP Amoco sold its western Canadian oil properties for $1.1 billion.<ref>{{Cite web |last=Pritchard |first=Timothy |date=August 6, 1999 |title=CANADIANS BUY BP AMOCO ASSETS |url=https://www.nytimes.com/1999/08/06/business/world-business-briefing-americas-canadians-buy-bp-amoco-assets.html |access-date=October 25, 2024 |website=The New York Times}}</ref> In September 2001, BP Amoco sold its refineries in Salt Lake City and Mandan, North Dakota to [[Tesoro Corporation|Tesoro Petroleum]].<ref>{{Cite web |date=2001-09-07 |title=Tesoro finishes purchase of BP refineries at Mandan, Salt Lake City |url=https://www.ogj.com/refining-processing/article/17261570/tesoro-finishes-purchase-of-bp-refineries-at-mandan-salt-lake-city |access-date=2024-10-25 |website=[[Oil & Gas Journal]]|language=en}}</ref> 

Originally, the plan was for all US BP service stations to be converted to Amoco while all overseas Amoco service stations were to be converted to BP.{{clarification needed|date=April 2021|reason=Where and when did Amoco Corporation had service stations outside of the United States?}} But by 2004, BP announced that all Amoco service stations would either be closed or renamed to BP service stations, including the remaining stations still bearing the "Standard" name.{{citation needed|date=April 2021}} BP also chose to rename its gasolines with the Amoco name, changing its midgrade and premium offerings to the Silver and Ultimate brandings that Amoco used. By 2008, the "Amoco Fuels" name had been mostly discontinued in favor of "BP Gasoline with Invigorate". The Amoco name, however, lives on as BP continues to sell Silver and Ultimate under the BP name.

In addition, a few BP stations continued operation under the Amoco name. Most were either converted to BP, demolished and replaced with BP-style stations, abandoned, or switched to competitor brands. On April 1, 2010, in Mississippi, [[Chevron Corporation|Chevron]] purchased some [[BP]] gas stations, which had been Amoco, to convert them to the [[Texaco]] brand.<ref>{{Cite news |date=2010-08-01 |title=US BP distributors consider reverting to Amoco brand |language=en |work=Reuters |url=https://www.reuters.com/article/uk-oil-spill-branding-idUKTRE6701XQ20100801 |access-date=2022-04-25}}</ref>

In the aftermath of the [[Deepwater Horizon oil spill|''Deepwater Horizon'' oil spill]] in the Gulf of Mexico, there were reports in the press that [[BP]] was reconsidering rebranding itself as Amoco in the US.<ref>{{cite news |url=https://www.google.com/hostednews/ap/article/ALeqM5grAyJY6qXqNgoXq-ml1UqPx4WqdgD9H9JODO0 |archive-url=https://web.archive.org/web/20100806002805/https://www.google.com/hostednews/ap/article/ALeqM5grAyJY6qXqNgoXq-ml1UqPx4WqdgD9H9JODO0 |archive-date=August 6, 2010 |url-status=dead |title=Time to scrap BP brand? Gas-station owners divided |first=Harry R. |last=Weber |agency=[[Associated Press]] |date=July 31, 2010}}</ref> Some independently owned BP stations, including former Amoco stations, switched to a different brand due to the public relations fallout as a result of the oil spill.<ref>{{cite news|author=Joshua Trujillo / Seattlepi.com via AP |url=http://www.nola.com/news/gulf-oil-spill/index.ssf/2010/07/some_bp_gas_station_owners_swi.html |title=Some BP gas station owners switching brands because of Gulf oil spill |newspaper=[[The Times-Picayune/The New Orleans Advocate]] |access-date=2012-11-30 }}</ref>