| Industry | Oil |
|---|---|
| Fate | Acquired by El Paso Corporation |
| Founded | 1955 |
| Defunct | 2001 |
| Headquarters | Greenway Plaza Houston, Texas |
Coastal was an oil company headquartered in 9 Greenway Plaza (Coastal Tower) in Greenway Plaza, Houston, Texas.[1] The Fortune 500 oil company, founded in 1955, produced natural gas, electricity, and coal, but its main business was its gas stations.
In 1988, Coastal purchased the Derby Oil Company of Wichita, Kansas. Coastal was acquired by El Paso Corporation in 2001, which has phased out the brand slowly over the years. Its website was closed immediately upon the buyout. El Paso has gradually sold off its retail gasoline business, and very few of its stations still exist under the Coastal brand as of 2008[update], many having been converted to other major brands or generic brands. Sunoco acquired 245 service stations from Coastal on February 9, 2001 for approximately $40 million.[2]