Ampol

Early history

Today's Ampol Limited traces its history back to two independent businesses that merged in 1995, Caltex Oil (Australia) Pty Ltd (a subsidiary of Caltex Australia Limited, owned by the global Caltex Petroleum Corporation) and a previous incarnation of Ampol Limited (owned by Hanson Australia). It became the largest downstream petroleum company in Australia. At the time of merger, Caltex Petroleum Corporation was owned equally by American petroleum companies Chevron Corporation and Texaco.

Caltex (1918–1995)

Texas Company (later Texaco) products were first sold in Australia in 1900. Texas Company (Australasia) Limited was incorporated in New South Wales in 1918, with operations across Australia and New Zealand. In June 1936, the Caltex joint venture was formed in the United States between Standard Oil Company of California (later Chevron) and The Texas Company. Texas Company (Australasia) Limited eventually changed its name to Caltex Limited five years later on 2 January 1941.

The legal entity Caltex Australia Limited originated from California Asphalt Products Pty Ltd which was incorporated in May 1935. The company became public in December 1958 and briefly became California Asphalt Products Ltd, before changing its name to Caltex Securities (Australia) Ltd in February 1959 and finally to Caltex Australia Limited in March 1981.

Caltex Australia opened the Kurnell Refinery in 1956. In March 1981, Caltex Australia acquired Golden Fleece for A$75 million. In July the same year, Caltex Australia floated 25% of its shares to the Australian public, the first multinational oil company to do so in Australia. Part of the proceeds of the offering would be used to pay the acquisition of Golden Fleece.