How Stanvac came into being

How Stanvac came into being

Following a U.S. Supreme Court ruling in 1911, Standard Oil was dissolved, and the Standard Oil Trust was split into 34 companies, Two of these companies were Jersey Standard, which eventually became Exxon, and Socony ("Standard Oil Company of New York"), which eventually became Mobil.

In the Asia-Pacific region, Jersey Standard had oil production facilities and refineries in Indonesia but no marketing network. Socony-Vacuum had Asian marketing outlets supplied remotely from California.

In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard- Vacuum Oil Co., or "Stanvac," operated in 50 countries, from East Africa to New Zealand, before it was dissolved in 1962. Nevertheless, PT Stanvac Indonesia remained in operation until in 1995 when it was taken over by PT Medco Energi Corp, and renamed into PT Exspan Sumatera.

In 1988, Exxon Corp and Mobil Oil merged into ExxonMobil Corp, one of the world's oil giants.

Source: nationmaster.com at http://www.nationmaster.com/encyclopedia/Socony