Standard Oil Standard Oil Standard Oil Co. Inc. was an American oil producing, transporting, refining, and marketing company. Established in 1870 by John D. Rockefeller and Henry Flagler as a corporation in Ohio, it was the largest oil refinery in the world of its time. Its history as one of the world's first and largest multinational corporations ended in 1911, when the United States Supreme Court, in a landmark case, ruled that Standard Oil was an illegal monopoly. Standard Oil dominated the oil products market initially through horizontal integration in the refining sector, then, in later years vertical integration; the company was
Standard Vacuum Oil Company in the region. This led to the beginning of the petroleum industry in China: Before 1937, Chinese oil production was measured in quarts and, in its crude condition, was used solely as a lubricant. This first well, developed under the most primitive of conditions and with relatively untrained personnel, began to produce over twenty barrels of oil a day. In time, with equipment brought in from Szechuan and elsewhere and the development of several distillation plants, nine more wells were drilled in the immediate area. A letter from my father to T. E. Mobley of Standard Vacuum in June 1942