ARCO facts for kids
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| Private (subsidiary of Tesoro Corporation) | |
| Industry | Oil & Gas Extraction |
| Founded | 1966 |
| Headquarters | La Palma, California, United States |
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Number of locations
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1,200 |
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Area served
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United States |
| Parent | British Petroleum (2000-2013) Tesoro Corporation (2013-present) |
ARCO (short for Atlantic Richfield Company) is a major United States oil company. It runs businesses in the United States, Indonesia, the North Sea, and the South China Sea. As of July 2011, ARCO had over 1,300 gas stations. Most of these stations are located in the western part of the United States.
ARCO's Story: How It Started
ARCO was formed when two older companies joined together.
- Atlantic Petroleum opened its first gas station in 1915. This was in Pittsburgh, Pennsylvania.
- Richfield Oil Company opened its first gas station in 1917. This was in Los Angeles, California.
These two companies came together in 1966. Later, in 1969, they bought another company called Sinclair Oil Corporation. In 1978, ARCO started its own ampm convenience stores. These stores are often found right next to ARCO gas stations.
Between 1970 and 2000, ARCO's ownership changed a few times. In 1985, ARCO sold its business in the Eastern US. This part became a new company called Atlantic Petroleum. Then, in 2000, British Petroleum (BP) bought the remaining ARCO business in the Western US. Finally, in 2013, BP sold ARCO to Tesoro for $2.5 billion.
Finding Oil in Alaska
In 1957, Richfield was the first company to drill for oil in Alaska. On July 15 of that year, they found oil with their very first well. This was a huge discovery for Alaska. The well produced about 900 barrels of oil every day.
In 1968, Richfield partnered with Exxon. They worked together to produce oil from the Alaska North Slope. By 1980, ARCO had grown to be the seventh largest oil company in the United States.
See Also
Images for kids
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At one time, ARCO had its main offices in what is now the City National Plaza complex in Downtown Los Angeles.
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An ARCO station in St. Clairsville, Ohio in 2021. This area is outside of ARCO's usual market.
