Faustino Piaggio

Deceased Person

Faustino Piaggio (b. 15 February 1844, Quinto al Mare, Genoa), was an Italian industrialist who also became a pioneer of the Latin American oil industry with his businesses based in Peru. Faustino G. Piaggio, created the Peruvian oil industry almost 10 years before Standard Oil arrived in the area, and made it the oldest in Latin America. He also built the first oil refinery outside the United States. His oil holdings were controlled through Sociedad Anonima Comercial e Industrial Faustino G. Piaggio, that counted as its assets the Zorritos and Los Organos oil wells and a refinery, train installations for transport and several oil transport ships. His oil business existed from 1879 to 1934, the year it was nationalized by the Peruvian government and was the foundation of what is today the national Peruvian oil company Petroperú. He belonged to a well known Genoese family who had a shipbuilding and trading business. The Piaggio family had traded with Peru since the 18th century, though it is only in the mid 19th century that some family members decide to start new businesses in America. In 1862, the Piaggio family loses an important part of its fleet in an act of war with the  ( Wikipedia article )


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