Standard Oil and Oliver Burr Jennings, who had married the sister of William Rockefeller's wife. In 1870, Rockefeller abolished the partnership and incorporated Standard Oil in Ohio. Of the initial 10,000 shares, John D. Rockefeller received 2,667; Harkness received 1,334; William Rockefeller, Flagler, and Andrews received 1,333 each; Jennings received 1,000, and the firm of Rockefeller, Andrews & Flagler received 1,000. Rockefeller chose the "Standard Oil" name as a symbol of the reliable "standards" of quality and service that he envisioned for the nascent oil industry. In the early years, John D. Rockefeller dominated the combine; he was the single most important
Sirte Oil Company Sirte Oil Company Sirte Oil Company (SOC) () is an oil and gas company in Libya operating under the state-owned National Oil Corporation (NOC). The company is located in Brega SOC’s operations include oil and gas exploration and production (E&P) and manufacturing. The company was initially known as Esso Standard Libya Inc., the first company to discover commercial quantities of crude oil in the Zelten oil field. In 1981, Exxon (parent company of Esso Standard) withdrew their Libyan operations, after which Sirte Oil Company was formed as a NOC subsidiary. In 1986, SOC took over the assets of Grace Petroleum,