In Colombia, Gulf purchased the Barco oil concession in 1926. The government of Colombia revoked the concession the same year, but after much negotiation Gulf won it back in 1931. However, during a period of over-capacity, Gulf was more interested in holding the reserve than developing it. In 1936 Gulf sold Barco to the Texas Corporation, now Texaco, and they would eventually all merge as Chevron.
In Colombia, Gulf purchased the Barco oil con.cession in 1926. The gover!nment of Colombia revoked the concession the same year, but after much negotiation Gulf won it back in 1931. However, during a period of over-capacity, Gulf was more interested in holding the ?reserve than developing it. In? 1936 Gulf sold Barco to the Texas Corporation, now Texaco, and they would eventually all merge as Chevron.