Rangoon Oil Co: Difference between revisions
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Latest revision as of 08:39, 5 August 2016
1876 David Sime Cargill, after visiting Burma, purchased the Glasgow-based Rangoon Oil Co Ltd, which had failed because the King of Upper Burma was using his monopoly power to overcharge for crude oil found in his territory.
Over the next ten years Cargill supported the loss-making refining and distribution activities from his own pocket, to the extent of £100,000.
1910 Acquired by the British Burmah Petroleum Co which had been incorporated for the purpose of acquiring a controlling interests in the company and to acquire the Rangoon Refinery Co Ltd and the Aungban Oil Co Ltd[1]
See Also
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Sources of Information
- ↑ The Times, Oct 18, 1910
- Biography of David Sime Cargill, ODNB