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
National Iranian Oil Company Royal Dutch Shell (14%), and Compagnie Française des Pétroles (later Total S.A., 6%). The four Aramco partners - Standard Oil of California (SoCal, later Chevron) - Standard Oil of New Jersey (later Exxon, then ExxonMobil) - Standard Oil Co. of New York (later Mobil, then ExxonMobil) - Texaco (later Chevron) - each held an 8% stake in the holding company. All IOP members acknowledged that NIOC owned the oil and facilities in Iran, and IOP's role was to operate and manage them on behalf of NIOC. To facilitate that, IOP established two operating entities incorporated in the Netherlands, and both