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Getty Oil
From Wikipedia, the free encyclopedia
Getty Oil is an oil company founded by J. Paul Getty.
In 1984, Texaco bought Getty Oil. On November 19, 1985, Pennzoil won a US$10.53 billion verdict from Texaco in the largest civil verdict in US history. (Texaco established a signed contract to buy Getty Oil after Pennzoil entered into an unsigned, yet still binding, buyout contract with Getty.) In the end, only some of the refineries changed hands, and Getty lived on.
Getty gas stations survived. Some were once co-branded with Mid-Atlantic convenience store chain Uni-Mart, which now sells its own brand of gasoline. In 2000, what was left of Getty was purchased by Russia-based Lukoil, and in 2003 began the process of converting Getty stations to Lukoil. In 2004, however, Lukoil bought many Mobil stations from ConocoPhillips, who itself bought the stations from ExxonMobil in 2000. Because Lukoil owns the Getty name and trademark, but only owns certain Mobil stations with limited rights to use the Mobil name, it has stopped rebranding the Getty stations until the Mobil stations have made the change to Lukoil.
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