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
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