Ultramar was originally a British oil company (founded in 1935), which expanded into downstream operations (refining and marketing) in the 1960s, including entering the UK retail petrol market.
In the UK, Ultramar’s petrol retailing operation was known as Ultramar Golden Eagle, using the Golden Eagle branding on service stations.
By the 1970s and early 1980s, Ultramar operated a network of petrol stations in the UK, however, during the 1980s oil market downturn, Ultramar decided to exit its UK retail operations. As part of this shift, the company sold its UK petrol stations to Kuwait Petroleum International (Q8) — the sale of Ultramar Golden Eagle’s retail business was completed in 1988.
|