Pacific Oil Company
Pacific Oil Company
Pacific Oil Company was founded in 1902 as the Sweetwater Oil Company of Oklahoma City, Oklahoma. The founder of Sweetwater Oil, E.M. Hutchinson, pioneered a major oil strike in north central Oklahoma that touched off the Oklahoma "black gold" rush of the early 1900s. It developed extensive oil holdings in North Africa and the Middle East, as well as significant coal beds in the western United States.
In 1979, Pacific Oil established the first major contract with the Reliant Corporation for the purchase of vinyl chloride monomer. The Reliant Corporation was a major industrial manufacturer of wood and petrochemical products for the construction industry. Reliant was expanding its manufacturing operations in the production of plastic pipe and pipe fittings, particularly in Europe. The 1979 contract between Pacific Oil and Reliant was a fairly standard one for the industry and due to expire in December of 1982. In February 1982, negotiations began to......
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