Deutsch-Amerikanische Petroleum Gesellschaft

The Standard Oil Company was involved in the German-American Petroleum Society with 3,500 out of 9,000 shares.

In 1890, Riedemann was co-founder of the German-American Petroleum Society (DAPG) based in Hamburg (since 1950 ESSO) together with Franz and Carl Schütte and the Standard Oil Company of the oil. Riedemann\'s shipping company, the shipping company of the DAPG, moved its seat from Bremen to Hamburg in 1892. In 1928 this shipping company was renamed the tanker Rhederei. In 1904 the American partners gained the decisive influence on the German-American Petroleum Society.

Due to the transport in tankers, the price of the petroleum decreased by 50 percent. At the outbreak of the First World War, the companies in which he was involved had the largest tanker fleet in the world.