Trinidad Leaseholds
Trinidad Leaseholds, explorers for oil and refiners and distributors of oil products under the Regent brand.
c.1913 Central Mining and Investment Corporation Ltd and Consolidated Gold Fields of South Africa formed Trinidad Leaseholds Ltd to explore and extract oil from leases in Trinidad[1].
1914 First AGM of Trinidad Leaseholds Ltd[2].
1920 Agreement with Anglo-Persian Oil Co to market the company's distillates[3].
1923 A "topping plant" was brought into operation in Trinidad[4].
1929 New refinery unit was brought into operation; old units shut down; a Dubb's units had been installed for cracking and the company was buying more[5].
1930 To counter the reduction in sales price of crude oil, Trinidad Leaseholds would move into the downstream business in the UK. Had acquired the petroleum distribution side of Burt, Boulton and Haywood and would market motor spirit under the brand Regent which would be a high grade fuel with natural anti-knock properties[6].
1930 Trinidad Leaseholds Ltd., a British company with crude oil concessions in the Caribbean and with its own overseas refinery capacity, entered the United Kingdom market with the Regent brand of petrol.
1936 Trinidad Leaseholds Ltd was one of the independent suppliers of petrol who did not join the Independent Petroleum Federation when it was formed. Its Regent Petrol brand sold at the same price as the leading brands.
1938 the principal suppliers of petrol in the UK, namely Anglo-American Oil Co, National Benzole Co, Shell-Mex and B. P. and Trinidad Leaseholds, joined together (with Government approval) to form the Petroleum Board to consider the problems of petroleum distribution in the event of war.
1939 On 3rd September, the Petroleum Board became an executive body under Government direction. All products were sold under a Pool description, the selling price of each product being subject to Government control.
1948 In preparation for the dissolution of the Petroleum Board (in June 1948), Trinidad Leaseholds and the California Texas Corporation (Caltex) established joint marketing arrangements in the UK and Eire through a new company the Regent Oil Company[7].
1948 Regent Oil acquired Russian Oil Products which gave the company a ready-made distribution network although it was unlikely that oil would be imported from Russia[8].
1952 Havoline lubricating oil[9].
1956 the whole of the share capital of Trinidad Oil Co was acquired by the Texas Oil Co[10] (later Texaco).
The Texas Oil Co and Standard Oil Co of California were 50% partners with Trinidad Oil in Regent Oil Company Ltd[11].
1962 Regent built a refinery at Milford Haven[12]. Regent had the 3rd largest petrol distribution chain in the UK.
1967 Split of Caltex assets in Europe left Texaco with almost all the Regent Oil Co properties in the UK except where there was duplication when the property would become Socal's (Standard Oil Co of California)[13].
1967 Chevron (previously Standard Oil Co of California) would takeover 100 UK outlets[14]. Regent Oil Co Ltd changed its name to Texaco Ltd[15].
See Also
Sources of Information
- ↑ The Times, 30 December 1914
- ↑ The Times, 30 December 1914
- ↑ The Times, 27 January 1921
- ↑ The Times, 21 November 1923
- ↑ The Times, 5 December 1929
- ↑ The Times, 12 November 1930
- ↑ The Times, 3 April 1948
- ↑ The Times, 9 November 1948
- ↑ The Times 30 April 1952
- ↑ The Times, 7 September 1956
- ↑ The Times, 7 June 1956
- ↑ The Times, 4 July 1962
- ↑ The Times, 3 May 1967
- ↑ The Times, 2 November 1967
- ↑ The Times, 22 November 1967
- Competition Commission [1]