Atlantic Petroleum
| Company type | Private company |
|---|---|
| Industry | Oil and gas |
| Predecessor | Standard Oil Trust |
| Founded | 1866 |
| Fate | Merged with Richfield Oil Corporation to form AtlanticRichfield Co. (ARCO); later purchased by Sunoco in 1988 |
| Headquarters | Philadelphia, Pennsylvania , United States |
| Products | Petroleum products |
Atlantic Petroleum was an oil firm with its main office located in Philadelphia, Pennsylvania, concentrating its operations largely in the Eastern United States. It traced its origins directly back to the Standard Oil Trust and eventually combined forces with Richfield Oil Corporation to create AtlanticRichfield Co., commonly known as ARCO.
After a failed attempt to spin off from ARCO, Atlantic was purchased by Sunoco in 1988. Later, ARCO itself was acquired by BP, which subsequently divested most of its retail outlets and the brand to Andeavor, a company renamed in 2017. Presently, the Arco trademark is owned by Marathon Petroleum.
Origins & Standard Oil Era
Established in 1866 under the name "Atlantic Petroleum Storage Company," Atlantic entered the nascent oil sector. It was renamed "Atlantic Refining" in 1874 and became part of John D. Rockefeller’s Standard Oil empire, boosting Rockefeller’s influence along the East Coast.
By 1886, Standard Oil divided its operational regions among subsidiaries, designating Atlantic to cover Philadelphia and adjacent areas including Delaware, southern New Jersey, and southeastern Pennsylvania. To counteract antitrust pressures that led to the dissolution of the Trust in 1911, Atlantic consolidated Acme Oil of Pennsylvania and Standard Oil of Pennsylvania (Pittsburgh) in 1892.
After Standard Oil’s Breakup
Following the breakup of Standard Oil under the Sherman Antitrust Act, Atlantic secured rights to use the Standard name within Pennsylvania and Delaware, though southern New Jersey was assigned to Jersey Standard (later ExxonMobil). Unlike many other Standard successors, Atlantic chose to emphasize its own brand rather than continuing with the Standard name, which eventually was acquired in Pennsylvania by Standard Oil of Pennsylvania and then ExxonMobil.
Atlantic grew its presence mainly along the U.S. East Coast through strategic acquisitions, reinforcing its hold on significant regional markets.
The ARCO Period
In 1966, Atlantic merged with West Coast-based Richfield Oil to establish the Atlantic Richfield Company (ARCO), pursuing a nationwide footprint. ARCO introduced regional marketing programs such as the "ARCO Go Patrol" traffic service within the Delaware River area. Despite rebranding efforts, ARCO maintained a bi-coastal presence with limited operations between the Rocky Mountains and Appalachian regions.
The 1969 purchase of Sinclair Oil broadened ARCO’s reach but necessitated selling Eastern Sinclair and Southeastern Atlantic assets to BP to comply with antitrust regulations. Remaining Sinclair stations were rebranded as ARCO outlets, streamlining brand consistency.
Resurgence and Decline
ARCO’s national expansion plans faltered during the 1970s; it retreated from multiple states and concentrated on West Coast markets as a provider of affordable gasoline. The introduction of methanol-blended fuels in the Northeast during the early 1980s damaged consumer confidence, leading ARCO to divest its Northeastern holdings in 1985. Dutch financier John Deuss acquired much of this portfolio, revived the Atlantic brand, launched A-Plus convenience stores, and discontinued methanol blends.
Legal issues involving Deuss related to international oil trading and fraud weakened Atlantic’s financial position. In 1988, Sunoco of Philadelphia took over Atlantic, initially marketing it as a budget-friendly option with distinct branding. By 1993, Sunoco streamlined branding efforts to cut expenses, phasing out Atlantic stations entirely by 1996.
Contrary to common industry practice of preserving multiple brands after mergers, Sunoco has not reinstated the Atlantic brand, opting instead to focus exclusively on its primary market identity.
Legacy
Several aspects of Atlantic continue to exist through Sunoco and ARCO, which is currently under Marathon Petroleum's ownership, except in Northern California, Oregon, and Washington, where BP manages ARCO outlets. Sunoco preserved the A-Plus convenience store brand, promoting it as "The Official Pit Stop of NASCAR" due to its sponsorship ties with NASCAR; however, most A-Plus locations have been sold to 7-Eleven.
Sunoco also controlled the former Atlantic Point Breeze refinery located in Philadelphia, merging it with the neighboring Gulf Oil Girard Point refinery acquired from Chevron. This combined facility was restructured into Philadelphia Energy Solutions, where Sunoco retains partial ownership while the Carlyle Group possesses the majority stake.