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
Standard Vacuum Oil Company refineries in Indonesia) merged their interests in the Far East into a 50–50 joint venture. Standard-Vacuum Oil Co., or "Stanvac," operated in 50 countries, including New Zealand, China, and the region of East Africa, before it was dissolved in 1962. In 1937 the Standard Vacuum Oil Company of New York helped establish and fund an exploration team to explore for oil in China. They joined with some wealthy Chinese backers who had an oil concession covering several provinces in north-western China, to make an assessment of recent oil discoveries and to possibly join them in the development of oil resources