The Coldfall Sanction
Romanian-American Standard Oil
In 1904, after about a decade of assessing Romania’s prospects, Standard Oil entered the country. Standard was opposed by many elements in the Romanian government, but in the end the government did not want to appear to be repudiating the spirit of the 1895 mining Law. Standard formed the Româno—Americana Aocietate anonimă pentru Industria, Comertul, şi Exportul Petrolui (Romanian American Company for the Manufacturing, Marketing, and Export of Petroleum) Româno—Americana was owned entirely by Standard oil and capitalized initially at 2 million French francs. in 1905, Standard tripled the investment and complete a refinery at Ploieşti. in 1907, Româno—Americana drilled the first well in the giant Moreni-Gura Ocnitei oil field, about 20 miles west of Ploiesti. After the dissolution of Standard Oil in 1911, Româno—Americana passed to the Standard oil Company of New Jersey.
In 1910, Royal Dutch Shell formed Astra Romana Company to counteract a possible Standard oil monopoly