Pennzoil
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File:Pennzoil Logo white bg.png Pennzoil's current version of its logo. The company has used variations of this logo since the 1920s. | |
| Type | Private |
|---|---|
| Genre | Automotive service |
| Headquarters | Houston, Texas, United States |
| Products | Motor oil |
| Services | Motor oil service |
| Parent | Royal Dutch Shell |
| Divisions | Jiffy Lube |
| Website | http://www.pennzoil.com |
Pennzoil is an oil company founded in Los Angeles, California in 1913. In 1955, it was acquired by Oil City, Pennsylvania company South Penn Oil, a former branch of Standard Oil. In 1963, South Penn Oil merged with Zapata Petroleum; the merged company took the Pennzoil name. During the 1970s, the company moved its offices to Houston, Texas. In 1977 a spin-off company was formed called Pogo, which stood for Pennzoil Offshore Gas Operators. [1]
Pennzoil was then headquartered in Pennzoil Place in Downtown Houston.[2] 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--Shell Oil Products US.
Contents
Products
The following are products offered from Pennzoil:
- Motor Oils - Pennzoil motor oil is the mainstay of the Pennzoil brand name. As of FY 2007 Pennzoil was the number one selling motor oil in the United States, competing with Castrol, Valvoline, and Havoline.
- Gasoline - Pennzoil sells gasoline to motorists, mostly in western Pennsylvania.
- Jiffy Lube is a wholly owned subsidiary of Pennzoil-Quaker State Company. It was purchased in 1990. The company's franchise outlets in the United States and Canada offer quick oil changes, chassis lubes, and other automotive services.
Gasoline
Though not much emphasis has ever been placed on gasoline, Pennzoil does sell gas. [3] 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.
In the 1990s, Pennzoil gas experienced a bit of a revival when Pittsburgh area convenience store chain Cogo's began co-branding themselves with Pennzoil. The co-branding only lasted a few years, and Cogo's switched brands to BP and Exxon 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 happened, but the three company-owned Pennzoil gas stations in the New Castle, Pennsylvania area began co-branding themselves with 7-Eleven in 2003, with more emphasis placed on the 7-Eleven brand name than Pennzoil itself.
As of June 2009, only one Pennzoil/7-Eleven combination remains, as another converted to BP in 2006 while retaining 7-Eleven (a Pennzoil in Ambridge, Pennsylvania also converted to BP at the same time). On June 8, 2009, the other Pennzoil/7-Eleven was sold to private owners and became an independent, unbranded location. There is also a surviving Pennzoil station in Ashtabula, Ohio right off of Ohio State Route 11.
Controversy
Controversy arose in November 2003 following an investigation by NBC when it was discovered via the use of hidden camera that certain Jiffy Lube service stations were charging motorists for work they had in fact not performed. 5 out of 9 shops did not do the work that was told to customers.[4]
Texaco, Inc. v. Pennzoil, Co.
In 1984, Pennzoil made an informal but binding contract with Getty Oil to purchase the company. The Texaco oil company encroached on the deal in an attempt to acquire Getty for itself.
Pennzoil filed a lawsuit that turned out to be a landmark. At first it was adjudicated by Judge Anthony J.P. Farris; it was finished by visiting Judge Solomon (Sol) Casseb of San Antonio. Pennzoil, represented by Joe Jamail and Baine Kerr, won $10.53 billion from Texaco, represented by Dick Miller.
The case was appealed. The decision of the trial court was upheld on condition that Pennzoil file a remittitur agreeing to a reduction of punitive damages from $3 billion, to $1 billion. Compensatory damages of $7.53 billon remained unaffected. Pennzoil paid Mr. Jamail $335 million and Mr. Kerr $10 million for the victory.
References
- ↑ http://articles.latimes.com/1991-03-04/news/mn-91_1_liedtke-family
- ↑ "General Conditions and Legal Notices." Pennzoil. February 14, 1998. Retrieved on January 17, 2010.
- ↑ http://articlesguidance.org/the-complete-history-of-pennzoil-y7h4s/
- ↑ "Jiffy Lube Scam Caught On Tape". YouTube. http://www.youtube.com/watch?v=wiCAJ8ULnaI. Retrieved 24 May 2009.
See Also
External links
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