Commonwealth Oil Refineries Limited
COR
1920 – 1952
Oil refining and marketing company jointly owned by the Commonwealth, which held a majority of the shares, and the Anglo-Persian Oil Company, set up to give Australia its own petroleum refining capacity; it ran a refinery at Laverton, Victoria.
How it came into existence
Incorporated in 1920 under an agreement between the Commonwealth and the Anglo-Persian Oil Company approved by the Oil Agreement Act 1920, with the Commonwealth holding a majority of the shares. It had no Commonwealth predecessor.
Legislation: Oil Agreement Act 1920
Changes during its life
- 1924The company's refinery at Laverton, Victoria, began operating.
- 1952The Commonwealth sold its shares to the Anglo-Iranian Oil Company, privatising the company.
How it ended
Ceased to be a Commonwealth company in 1952, when the Commonwealth sold its shareholding to its partner, by then the Anglo-Iranian Oil Company (later BP).
Main functions
- Refining of imported crude oil
- Distribution and sale of petroleum products
- Operation of the Laverton refinery
Where it sits
Last in the portfolio of Department of National Development.
Lineage
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Sources
Some dates or links for this organisation are uncertain. Corrections are welcome.