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Pan American Petroleum and Transport Company

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185: 38: 322:'s Blair & Co.. The transaction was to be the subject of a stockholder action in 1933, alleging that there had been a conspiracy by the bankers, who were represented on the Pan American board, to make excessive profits. In 1926 Venezuelan Eastern Petroleum Corporation was organized as a subsidiary of Pan American Eastern with the purpose of buying and developing Venezuelan oil properties. 176:, Mexico. When the well struck it shot a stream of oil 598 feet (182 m) into the air. It became world's largest, pumping 260,000 barrels per day. Over the next fourteen years the well produced over 57 million barrels. The Mexican Petroleum Company eventually acquired ownership or leasehold rights to 1,500,000 acres (610,000 ha) of land. 168:, and formed the Huasteca Petroleum company to hold them. In 1910 his wells in the Juan Casiano Basin in the Faja de Oro field started to produce good quality oil. The gusher at Casiano number 7 spewed out 60,000 barrels a day, and by 1918 had delivered over 85 million barrels of oil. In 1911 Doheny signed a contract to supply 377:
was heard by the Supreme Court to determine whether the directors of Pan American had been in breach of their fiduciary duty. The directors were all officers of directors of Standard Oil of Indiana, which held almost 80% of Pan American's shares, and it was charged that they had deprived Pan American
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each 23.75% of any oil that was produced by the Turkish Petroleum Company. The Near East Development Corporation (NEDC) represented American interests and included Jersey Standard Oil, Socony-Vacuum Oil Company, Gulf Oil, the Pan-American Petroleum and Transport Company, and Atlantic Refining. The
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On 24 January 1924 Doheny testified before the U.S. Senate Committee on Public Lands and Surveys, and admitted that he had loaned Fall $ 100,000 in cash with no security some months before the oilfield leasing arrangement was made. Doheny said the loan was a personal one. Pan American had been the
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in Colombia. They sold 75% of their interest to the Colombian Petroleum Company the next year, a subsidiary of Pan American. Doheny was also interested in plans to develop the oil industry in Venezuela, and in building a pipeline from Colombia to Venezuela to make it more economical to export the
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drove up demand for oil-fueled transport, and Doheny responded by expanding pumps, tanks and loading sites in Tampico. By July 1917 Pan American had a fleet of 31 tankers. The company paid $ 1.1 million in dividends in 1917 and $ 3.1 million in dividends on its common stock in 1918. 1918 revenues
279:, and had offered to undertake this contract in exchange for the oilfield lease, being paid in oil and then paying royalties to the government for oil extracted in excess of costs. Eventually the Supreme Court nullified both leases. It was not until 1930 that Doheny was cleared of all charges. 306:
On 1 April 1925 the California assets of Pan American Petroleum and Transport were transferred to a new holding company, the Pan American Western Petroleum Company, in which Doheny retained control. He sold a majority of shares in the remainder of the Venezuelan facilities of the Pan American
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for about $ 100 million. With this acquisition, Standard Oil of New Jersey became Mexico's largest oil producer. The deal also included large oil concessions in Venezuela and Pan-American's UK subsidiary Cleveland Petroleum Products. However, a few years later the Mexican properties were
145:, where he sank a mine and found oil at the corner of Patton Street and West State Street. This began an oil boom in Los Angeles. Doheny overextended himself and his company went bankrupt in August 1896. The setback was temporary, and a long-term contract with the 240: 113:, and from the subsequent growth in use of automobiles. For several years Pan American was the largest American oil company, with holdings in the United States, Mexico, Colombia and Venezuela. In 1924 Pan American was involved in the 266:
was leased to Sinclair Consolidated Oil Corporation. Both oilfields were part of the US Navy's petroleum reserves. Neither lease was subject to competitive bidding. In 1924 rumors about corruption in the deals escalated into the
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of profitable opportunities to drill and refine oil. The majority finding, setting an important precedent, was that it should be assumed that they had acted in good faith and without personal gains to themselves.
298:, a competitor, for its supplies. At the end of 1923 Pan American had a net worth of $ 173 million, with net earnings that year of over $ 20 million. The company paid dividends of $ 20.4 million that year. 1431: 1426: 325:
The Turkish Petroleum Company discovered a large oil field in Iraq in 1928. France, the United Kingdom, and the United States were each worried about being edged out by the other two. The
1421: 236:. Automobile production was booming and oil prices were high. The Mexican Petroleum Company was the largest in Mexico, and Mexico was the largest oil producer in the world. 258:, U.S. Secretary of the Interior, leased the oil field at Elk Hills, California, to the Pan American Petroleum & Transport Company. Around the same time, the 342: 1395: 1362: 1335: 1289: 1262: 1235: 1208: 1181: 1139: 1112: 1085: 1032: 1005: 979: 950: 923: 229: 146: 184: 311:. This included the Mexican holdings, Atlantic and Gulf Coasts holdings in the United States, refineries, pipelines and 31 tankers. 1305: 149:
gave him the opportunity to develop and expand a growing number of oil properties. In 1900 he visited Mexico with his associate
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The Pan American Petroleum and Transport Company was incorporated by Doheny in Delaware in 1916 as the holding company for his
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Petroleum and Transport Company and his Mexican Petroleum Company to Pan American Eastern Petroleum, a new subsidiary of
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The Politics of Property Rights: Political Instability, Credible Commitments, and Economic Growth in Mexico, 1876-1929
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Doheny found heavy oil in El Ebano in 1901, which he exported to the United States for use in paving. He formed the
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A photo by Walker Evans in Let Us Now Praise Famous Men of a post office in Sprott, AL shows a Pan-Am pump.
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to Pan American in exchange for a guaranteed supply of oil. Before this deal, American Oil had depended on
172:. Doheny's Mexican Petroleum Company made a major strike in February 1916 with the Cerro Azul No. 4 well in 118: 366:
expropriated all foreign oil concessions on 18 March 1938 and placed them under the government-controlled
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India, GCC, and the Global Energy Regime: Exploring Interdependence and Outlook for Collaboration
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Understanding The Great Gatsby: A Student Casebook to Issues, Sources, and Historical Documents
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and Almon Porter Maginnis of the Santa Fe railroad, saw the oil potential of the country near
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in 1932. What was left of Pan American was merged with Standard Oil of Indiana in 1954 to form
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after he had made a huge oil strike in Mexico. Pan American profited from fuel demand during
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The Crash and Its Aftermath: A History of Securities Markets in the United States, 1929-1933
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Edward L. Doheny was a prospector who became wealthy in the 1880s from silver mines in the
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In 1954 Pan American merged with Standard of Indiana to form the American Oil Company,
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The Tyranny of Oil: The World's Most Powerful Industry--and What We Must Do to Stop It
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Dark Side of Fortune: Triumph and Scandal in the Life of Oil Tycoon Edward L. Doheny
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published in 1927 is loosely based on Doheney's life and the story of Pan American.
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and funded it with $ 6 million of his own money. In 1905 he bought properties near
228:. In 1921 Pan American was the largest oil company in the United States, ahead of 259: 204: 142: 138: 110: 275:
lowest bidder for a contract to build and fill crude oil storage facilities at
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obtained a majority stake in 1925. The company sold its foreign properties to
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Legalist Reformation: Law, Politics, and Ideology in New York, 1920-1980
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over irregularities in the award of a U.S. government oil concession.
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Empire And Revolution: The Americans in Mexico Since the Civil War
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Juan Vicente GĂłmez and the Oil Companies in Venezuela, 1908-1935
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Blaustein v. Pan American Petroleum & Oil Transport Co.
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were $ 17 million and net profits were almost $ 7 million.
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Haber, Stephen; Maurer, Noel; Razo, Armando (2003-05-26).
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At the end of 1925 Pan American Western gained control of
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Non-renewable resource companies disestablished in 1954
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North American Free Trade: Issues and Recommendations
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Non-renewable resource companies established in 1916
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In 1932 Pan American sold its foreign properties to
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remaining 5% share went to an Armenian businessman,
141:of New Mexico. In 1892 he moved with his family to 91: 81: 73: 63: 55: 47: 1379: 989: 1101:Hufbauer, Gary Clyde; Schott, Jeffrey J. (1992). 1281:The Cravath Firm And Its Predecessors: 1819-1947 1050:"A Corporate History Rooted Deeply in Baltimore" 1354:Historical Dictionary of the Petroleum Industry 1080:. University of California Press. p. 156. 796: 541: 832: 411:was in turn the inspiration for the 2007 film 18:Pan American Petroleum & Transport Company 1157:"There Will Be Blood by Paul Thomas Anderson" 988:Gross, Dalton; Gross, MaryJean (1998-01-01). 8: 915:The History of the British Petroleum Company 370:, paying compensation to the former owners. 103:Pan American Petroleum and Transport Company 31:Pan American Petroleum and Transport Company 30: 215:, a concern owned by Americans, bought the 1422:Defunct oil companies of the United States 1284:. The Lawbook Exchange, Ltd. p. 433. 820: 649: 637: 625: 613: 505: 36: 29: 942:The Doheny Mansion: A Biography of a Home 565: 673: 238: 183: 868: 808: 784: 772: 435: 1386:. Greenwood Publishing Group. p.  996:. Greenwood Publishing Group. p.  883: 856: 844: 745: 733: 721: 577: 490: 478: 466: 454: 442: 709: 697: 685: 661: 601: 589: 553: 529: 230:Sinclair Consolidated Oil Corporation 147:Atchison, Topeka and Santa Fe Railway 7: 1327:The A to Z of the Petroleum Industry 1257:. Academic Foundation. p. 375. 895: 517: 1107:. Peterson Institute. p. 82. 25: 1378:Wigmore, Barrie A. (1985-01-01). 1197:Nelson, William E. (2003-01-14). 331:Near East Development Corporation 1357:. Scarecrow Press. p. 160. 1203:. Univ of North Carolina Press. 385:. Amoco was in turn acquired by 343:Compagnie Française des PĂ©troles 1324:Vassiliou, M. S. (2009-09-24). 1074:Hart, John Mason (2006-01-01). 1048:Hamilton, Martha (1999-02-01). 966:Davis, Margaret Leslie (1998), 939:Bonino, Mary Ann (2008-01-01). 234:Standard Oil Company of Indiana 203:and California oil properties. 87:United States, Mexico, Colombia 1251:Pradhan, Samir Ranjan (2008). 1176:. Cambridge University Press. 1128:Juhasz, Antonia (2009-10-06). 1027:. Cambridge University Press. 972:University of California Press 945:. MaryAnn Bonino. p. 15. 918:. Cambridge University Press. 290:sold a half interest in their 157:and began acquiring property. 51:Oil exploration and production 1: 1306:"The 1928 Red Line Agreement" 1224:Penrose, Edith (2013-05-20). 912:Bamberg, J. H. (1994-02-25). 797:Haber, Maurer & Razo 2003 542:Haber, Maurer & Razo 2003 42:One of the gas station logos. 1227:The Large International Firm 1170:McBeth, B. S. (2002-04-04). 761:The 1928 Red Line Agreement 1448: 1351:Vassiliou, M. S. (2009b). 1278:Swaine, Robert T. (1946). 833:Hufbauer & Schott 1992 359:Standard Oil of New Jersey 316:Lago Petroleum Corporation 296:Standard Oil of New Jersey 201:Huasteca Petroleum Company 123:Standard Oil of New Jersey 1230:. Routledge. p. 94. 373:In the 1940s the case of 335:Anglo-Persian Oil Company 197:Mexican Petroleum Company 162:Mexican Petroleum Company 35: 362:nationalized. President 309:Standard Oil of Indiana 224:from the west coast of 191:used by Pan-Ame tankers 119:Standard Oil of Indiana 1155:Levy, Emanuel (2007). 650:Gross & Gross 1998 638:Gross & Gross 1998 626:Gross & Gross 1998 614:Gross & Gross 1998 251: 246:poses with his lawyer 192: 242: 187: 811:, pp. 119, 547. 292:American Oil Company 222:Barco oil production 217:Barco oil concession 174:Cerro Azul, Veracruz 27:American oil company 1330:. Scarecrow Press. 414:There Will Be Blood 348:Calouste Gulbenkian 269:Teapot Dome scandal 155:Tampico, Tamaulipas 151:Charles A. Canfield 115:Teapot Dome scandal 32: 799:, p. 216-217. 532:, p. 107-109. 393:In popular culture 327:Red Line Agreement 252: 250:in this 1924 photo 193: 1397:978-0-313-24574-9 1364:978-0-8108-6288-3 1337:978-0-8108-7066-6 1291:978-1-58477-713-7 1264:978-81-7188-633-3 1237:978-1-135-12331-4 1210:978-0-8078-7556-8 1183:978-0-521-89218-6 1141:978-0-06-198201-9 1134:. HarperCollins. 1114:978-0-88132-120-3 1087:978-0-520-93929-5 1034:978-0-521-82067-7 1007:978-0-313-30097-4 981:978-0-520-22909-9 952:978-0-9816422-0-8 925:978-0-521-25950-7 339:Royal Dutch Shell 260:Teapot Dome Field 99: 98: 16:(Redirected from 1439: 1407: 1405: 1404: 1385: 1374: 1372: 1371: 1347: 1345: 1344: 1320: 1318: 1317: 1301: 1299: 1298: 1274: 1272: 1271: 1247: 1245: 1244: 1220: 1218: 1217: 1193: 1191: 1190: 1166: 1164: 1163: 1151: 1149: 1148: 1124: 1122: 1121: 1097: 1095: 1094: 1070: 1068: 1067: 1058:. Archived from 1044: 1042: 1041: 1017: 1015: 1014: 995: 984: 962: 960: 959: 935: 933: 932: 899: 893: 887: 881: 872: 866: 860: 854: 848: 842: 836: 830: 824: 818: 812: 806: 800: 794: 788: 782: 776: 770: 764: 758: 749: 743: 737: 731: 725: 719: 713: 707: 701: 695: 689: 683: 677: 671: 665: 659: 653: 647: 641: 635: 629: 623: 617: 616:, p. 78-79. 611: 605: 599: 593: 587: 581: 575: 569: 563: 557: 551: 545: 539: 533: 527: 521: 515: 509: 503: 494: 488: 482: 481:, p. 23-24. 476: 470: 464: 458: 452: 446: 440: 320:C. Ledyard Blair 302:Amoco subsidiary 244:Edward L. Doheny 166:Tuxpan, Veracruz 107:Edward L. Doheny 68:Edward L. Doheny 40: 33: 21: 1447: 1446: 1442: 1441: 1440: 1438: 1437: 1436: 1412: 1411: 1410: 1402: 1400: 1398: 1377: 1369: 1367: 1365: 1350: 1342: 1340: 1338: 1323: 1315: 1313: 1304: 1296: 1294: 1292: 1277: 1269: 1267: 1265: 1250: 1242: 1240: 1238: 1223: 1215: 1213: 1211: 1196: 1188: 1186: 1184: 1169: 1161: 1159: 1154: 1146: 1144: 1142: 1127: 1119: 1117: 1115: 1100: 1092: 1090: 1088: 1073: 1065: 1063: 1055:Washington Post 1047: 1039: 1037: 1035: 1020: 1012: 1010: 1008: 987: 982: 965: 957: 955: 953: 938: 930: 928: 926: 911: 902: 894: 890: 882: 875: 867: 863: 855: 851: 843: 839: 831: 827: 821:Vassiliou 2009b 819: 815: 807: 803: 795: 791: 783: 779: 771: 767: 759: 752: 744: 740: 732: 728: 720: 716: 708: 704: 696: 692: 684: 680: 672: 668: 660: 656: 648: 644: 636: 632: 624: 620: 612: 608: 600: 596: 588: 584: 576: 572: 564: 560: 552: 548: 540: 536: 528: 524: 516: 512: 506:Vassiliou 2009b 504: 497: 489: 485: 477: 473: 465: 461: 453: 449: 441: 437: 428: 395: 364:Lázaro Cárdenas 304: 288:Jacob Blaustein 284:Louis Blaustein 213:Carib Syndicate 182: 135: 84: 43: 28: 23: 22: 15: 12: 11: 5: 1445: 1443: 1435: 1434: 1429: 1424: 1414: 1413: 1409: 1408: 1396: 1375: 1363: 1348: 1336: 1321: 1302: 1290: 1275: 1263: 1248: 1236: 1221: 1209: 1194: 1182: 1167: 1152: 1140: 1125: 1113: 1098: 1086: 1071: 1045: 1033: 1018: 1006: 985: 980: 963: 951: 936: 924: 908: 901: 900: 888: 873: 871:, p. 375. 861: 859:, p. 180. 849: 847:, p. 179. 837: 825: 823:, p. 187. 813: 801: 789: 787:, p. 363. 777: 765: 750: 748:, p. 434. 738: 736:, p. 677. 726: 724:, p. 433. 714: 712:, p. 186. 702: 700:, p. 164. 690: 688:, p. 163. 678: 666: 664:, p. 262. 654: 642: 630: 618: 606: 604:, p. 141. 594: 592:, p. 128. 582: 570: 568:, p. 139. 566:Vassiliou 2009 558: 556:, p. 116. 546: 544:, p. 194. 534: 522: 520:, p. 156. 510: 508:, p. 160. 495: 483: 471: 459: 447: 434: 427: 424: 405:Upton Sinclair 394: 391: 303: 300: 256:Albert B. Fall 248:Frank J. Hogan 226:Lake Maracaibo 181: 178: 134: 131: 97: 96: 93: 89: 88: 85: 82: 79: 78: 75: 71: 70: 65: 61: 60: 57: 53: 52: 49: 45: 44: 41: 26: 24: 14: 13: 10: 9: 6: 4: 3: 2: 1444: 1433: 1430: 1428: 1425: 1423: 1420: 1419: 1417: 1399: 1393: 1389: 1384: 1383: 1376: 1366: 1360: 1356: 1355: 1349: 1339: 1333: 1329: 1328: 1322: 1312:on 2012-07-29 1311: 1307: 1303: 1293: 1287: 1283: 1282: 1276: 1266: 1260: 1256: 1255: 1249: 1239: 1233: 1229: 1228: 1222: 1212: 1206: 1202: 1201: 1195: 1185: 1179: 1175: 1174: 1168: 1158: 1153: 1143: 1137: 1133: 1132: 1126: 1116: 1110: 1106: 1105: 1099: 1089: 1083: 1079: 1078: 1072: 1062:on 2010-12-01 1061: 1057: 1056: 1051: 1046: 1036: 1030: 1026: 1025: 1019: 1009: 1003: 999: 994: 993: 986: 983: 977: 973: 969: 964: 954: 948: 944: 943: 937: 927: 921: 917: 916: 910: 909: 907: 906: 897: 892: 889: 886:, p. 65. 885: 880: 878: 874: 870: 865: 862: 858: 853: 850: 846: 841: 838: 835:, p. 82. 834: 829: 826: 822: 817: 814: 810: 805: 802: 798: 793: 790: 786: 781: 778: 775:, p. 94. 774: 769: 766: 762: 757: 755: 751: 747: 742: 739: 735: 730: 727: 723: 718: 715: 711: 706: 703: 699: 694: 691: 687: 682: 679: 675: 674:Hamilton 1999 670: 667: 663: 658: 655: 652:, p. 81. 651: 646: 643: 640:, p. 84. 639: 634: 631: 628:, p. 79. 627: 622: 619: 615: 610: 607: 603: 598: 595: 591: 586: 583: 580:, p. 95. 579: 574: 571: 567: 562: 559: 555: 550: 547: 543: 538: 535: 531: 526: 523: 519: 514: 511: 507: 502: 500: 496: 493:, p. 26. 492: 487: 484: 480: 475: 472: 469:, p. 21. 468: 463: 460: 457:, p. 20. 456: 451: 448: 445:, p. 15. 444: 439: 436: 433: 432: 425: 423: 421: 418: 416: 415: 410: 406: 402: 401: 392: 390: 388: 384: 379: 376: 371: 369: 365: 360: 355: 353: 349: 344: 340: 336: 332: 328: 323: 321: 317: 312: 310: 301: 299: 297: 293: 289: 285: 280: 278: 272: 270: 265: 261: 257: 249: 245: 241: 237: 235: 231: 227: 223: 218: 214: 209: 206: 202: 198: 190: 186: 179: 177: 175: 171: 167: 163: 158: 156: 152: 148: 144: 140: 132: 130: 128: 124: 120: 116: 112: 108: 104: 94: 90: 86: 80: 76: 72: 69: 66: 62: 58: 54: 50: 46: 39: 34: 19: 1401:. 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Index

Pan American Petroleum & Transport Company

Edward L. Doheny
Edward L. Doheny
World War I
Teapot Dome scandal
Standard Oil of Indiana
Standard Oil of New Jersey
Amoco
Black Range
Los Angeles
Atchison, Topeka and Santa Fe Railway
Charles A. Canfield
Tampico, Tamaulipas
Mexican Petroleum Company
Tuxpan, Veracruz
Standard Oil
Cerro Azul, Veracruz

House flag
Mexican Petroleum Company
Huasteca Petroleum Company
World War I
Carib Syndicate
Barco oil concession
Barco oil production
Lake Maracaibo
Sinclair Consolidated Oil Corporation
Standard Oil Company of Indiana

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