 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.