Commonwealth Oil Refineries facts for kids
| Subsidiary | |
| Industry | Petroleum |
| Successor | BP Australia Limited |
| Founded | 1920 |
| Defunct | 1957 |
|
Area served
|
Australia |
| Products | Refined petroleum fuels and related products |
| £93,429 (1940) | |
| Total assets | £2,195,227 (1940) |
| Parent | British Petroleum Company Ltd. |
Commonwealth Oil Refineries (COR) was an Australian company that worked with oil. It operated from 1920 to 1952. It was a joint project between the Australian government and a company called the Anglo-Persian Oil Company.
Contents
Starting the Company
The idea for this partnership came from Prime Minister Billy Hughes in 1920.
The company was managed by a board of seven people. Three members represented the Australian government. Four members represented the Anglo-Persian Oil Company.
In 1922, COR bought an old oil refinery in Hamilton. This refinery used to process oil from shale rock. COR moved parts of this old refinery to help build its new one in Victoria.
Australia's First Oil Refinery
In 1924, COR opened Australia's first oil refinery that processed crude oil brought in from other countries. It was located near Laverton, Victoria. The refinery received its first crude oil shipment on March 12, 1924. It started making products on May 17, 1924.
This refinery could process 100,000 tons of crude oil each year. It closed down on August 6, 1955. By then, many bigger refineries had been built across Australia. In the 1930s, the company also looked for new places to find oil.
Becoming Part of BP
In 1952, the Australian government, led by Prime Minister Robert Menzies, sold its share in COR. The government's share was bought by the Anglo-Iranian Oil Company. This company later changed its name to the British Petroleum Company (BP) in 1954.
Former Prime Minister Billy Hughes gave his last speech in parliament about this sale. He was very upset that the government was selling its share in Commonwealth Oil Refineries. He had helped create this company over 30 years earlier.
In 1955, COR helped develop a new refinery at Kwinana, Western Australia.
The COR Name Fades Out
Between 1952 and 1959, BP Australia still used the name COR for its regular petrol. But after 1959, they stopped using the COR name completely.
See also
- Ampol
- Golden Fleece Company
- Neptune Oil Company
