Ultramar plc was a leading

British British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories and Crown Dependencies. * British national identity, the characteristics of British people and culture ...

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) and lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturate ...

and

gas Gas is a state of matter that has neither a fixed volume nor a fixed shape and is a compressible fluid. A ''pure gas'' is made up of individual atoms (e.g. a noble gas like neon) or molecules of either a single type of atom ( elements such as ...

exploration Exploration is the process of exploring, an activity which has some Expectation (epistemic), expectation of Discovery (observation), discovery. Organised exploration is largely a human activity, but exploratory activity is common to most organis ...

and

production Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a stat ...

business. It was listed on the

London Stock Exchange The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...

and was a constituent of the

FTSE 100 Index The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chips listed on ...

History

The Company was founded by four

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

n goldmining concerns in 1935 to explore for

Venezuela Venezuela, officially the Bolivarian Republic of Venezuela, is a country on the northern coast of South America, consisting of a continental landmass and many Federal Dependencies of Venezuela, islands and islets in the Caribbean Sea. It com ...

and initially traded as the ''Ultramar Exploration Co. Ltd''. It changed its name to the ''Ultramar Co. Ltd'' in 1940. It established an operation in

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

, now known as Ultramar Corporation, in 1961. In 1988, it substantially expanded its operations in

California California () is a U.S. state, state in the Western United States that lies on the West Coast of the United States, Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares Mexico–United States border, an ...

acquiring a large

refinery A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value. Types of refineries Different types of refineries ...

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

from

Union Pacific Corporation Union Pacific Corporation is a publicly traded railroad holding company. It is incorporated in Utah and is headquartered in Omaha, Nebraska. Its only operating subsidiary is Union Pacific Railroad. Along with BNSF Railway, owned by Berkshire Hatha ...

for $440m.Acquisition Set By Ultramar
New York Times, 9 September 1988 The Company was acquired by

LASMO Lasmo plc was a British oil and gas exploration and production business. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. History The Company was founded in 1971 as London and Scottish Marine Oil (LASM ...

in 1991.

History

References

Further reading