Also during the 1980s, Tamraz founded and built Europe’s Tamoil Corporation by purchasing and combining all of the Italian assets of Amoco (Standard Oil Company of Indiana) and of Texaco Corporation (1,000 service stations each). Prior to selling, he expanded the company to 3,000 service stations, three refineries, an extensive pipeline distribution system and a refining capacity of 250,000 barrels (40,000 m3) of oil per day. Tamoil today has annual sales of $20 billion and a market capitalization of $6.3 billion.