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What is the abbreviation for pennzoil?
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What does pennzoil mean?
- Pennzoil
- Pennzoil is an American oil company founded in Los Angeles, California in 1913. In 1955, it was acquired by South Penn Oil, a former branch of Standard Oil, headquartered in Oil City, Pennsylvania. In 1963, South Penn Oil merged with Zapata Petroleum, and the merged company was named "Pennzoil". In 1968, a United Gas Corporation was purchased by Pennzoil,through a "leveraged buyout", which was necessary as United was larger than Pennzoil. During the 1970s, the company moved its offices to Pennzoil Place in Downtown Houston, Texas.In 1977 a spin-off company was formed called POGO, an acronym for Pennzoil Offshore Gas Operators.In 1999 Pennzoil's E&P business (known as PennzEnergy) was acquired by Oklahoma City-based Devon Energy and the now known as Pennzoil-Quaker was purchased by Royal Dutch/Shell Group to form SOPUS—Shell Oil Products US.
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"pennzoil." Abbreviations.com. STANDS4 LLC, 2024. Web. 8 May 2024. <https://www.abbreviations.com/pennzoil>.
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