Ultramar plc
Ultramar plc was a leading British oil and gas exploration and production business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.
 | |
| Industry | Oil and gas |
|---|---|
| Founded | 1935 |
| Defunct | 1991 |
| Fate | Acquired |
| Successor | LASMO |
| Headquarters | London, UK |
Key people | John Darby (Chairman) |
History
The Company was founded by four South African goldmining concerns in 1935 to explore for oil in Venezuela and initially traded as the Ultramar Exploration Co. Ltd. It changed its name to the Ultramar Co. Ltd in 1940.[1]
It established an operation in Canada, now known as Ultramar Corporation, in 1961.[1]
In 1988 it substantially expanded its operations in California acquiring a large refinery in Los Angeles from Union Pacific Corporation for $440m.[2]
References
- "Diamond Shamrock R & M, Inc". Scripophily. Retrieved 8 October 2018.
- Acquisition Set By Ultramar New York Times, 9 September 1988
Further reading
- Atterbury, Paul and MacKenzie, Julia A Golden Adventure: the First 50 Years of Ultramar, London, Hurtwood Press, 1985 ISBN 0-903696-35-5
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