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
Lago Oil and Transport Company company was to run lake tankers, to bring crude oil from Lake Maracaibo to Aruba. There, the oil was stored ashore in large tanks, later loaded onto larger oceangoing tankers and taken to the United States for refining into finished petroleum products such as gasoline, diesel fuel, Bunker C and heating oil. In 1928, Standard Oil of Indiana purchased the Lago transshipment Pan American Petroleum facility in Aruba, as well as the oil holdings under Lake Maracaibo in Venezuela. Standard Oil of Indiana then began to build a small refinery next to the transshipping facility port. Soon after the small