Included in the sale were the Lago Oil and Transport Company and the Lago Shipping Company, and the finalized plans to build the Lago refinery, "the giant", on Aruba.
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This town was supported by a large oil refinery in the world, which at that time was owned by a subsidiary of Standard Oil of New Jersey, known as Lago Oil and Transport Company Lago had its beginning in 1924 as a trans-shipping facility for crude oil extracted by the Lago Petroleum Corporation operating in Lake Maracaibo.