Information AboutPennzoil |
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Pennzoil is an oil company originally founded in Oil City, Pennsylvania . During the 1990s , the company moved its offices to Houston , Texas . It was then headquartered in Pennzoil Place, a recognizable Houston skyscraper. In 1998, the company merged with onetime rival Quaker State to form Pennzoil-Quaker State. In 2002, the Royal Dutch/Shell Group purchased Pennzoil-Quaker State to form SOPUS --'''S'''hell '''O'''il '''P'''roducts '''US'''. Both Pennzoil and Quaker State are now marketed together as a result. PRODUCTS The following are products offered from Pennzoil:
GASOLINE Though not much emphasis has ever been placed on Gasoline , Pennzoil does sell gas. In the early parts of the company's history, the gas stations were branded as "Pennzip", though they were later changed to "Pennzoil". For decades, Pennzoil gas stations were mostly marketed in western Pennsylvania, western New York , northern and eastern Ohio , and northern West Virginia . Pennzoil doesn't even make a single reference to the gasoline side of the business on the company's website. In the 1990's, Pennzoil gas did have somewhat of a revival when Pittsburgh area Convenience Store chain Cogo's began cobranding themselves with Pennzoil. The cobranding only lasted a few years, and Cogo's switched brands to BP in 2001. After Shell's purchase of Pennzoil, there was the possibility that the remaining Pennzoil stations--mostly in western PA--would be converted to Shell as part of the company's aggressive movement to expand nationally. This hasn't happend, but all company-owned Pennzoil gas stations with conveinence stores (mostly located in the New Castle, Pennsylvania area) began cobranding themselves with 7-Eleven in 2003, with more emphasis placed on the 7-Eleven moniker than Pennzoil itself. Most of the other remaining Pennzoil stations are low-volume stations with garages. Currently, the remaining Pennzoil stations appear to have been sold to either 7-Eleven or a franchisee, and have been in the process of converting the gasoline side to BP . This is likely the end of Pennzoil's gasoline side of the business. ''PENNZOIL V. TEXACO'' In 1984 , Pennzoil made a verbal, yet still binding, contract with the Getty Oil company to purchase the company. The deal, however, was encroached upon by the Texaco oil company when it instead acquired Getty. In a landmark lawsuit presided over by Judge Solomon (Sol) Casseb of San Antonio , Pennzoil, represented by a legal team including Joe Jamail and Baine Kerr , won 10.53 billion dollars from Texaco. (The case was later settled for three billion.) Pennzoil paid Mr. Jamail one billion dollars and Mr. Kerr ten million for the victory. EXTERNAL LINKS
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