Patchoulis Oil, a joint venture of the French and Canadian oil majors Firestone and Shell, is changing its name from Firestone to the French oil company G.P.P., which translates to “Glorious Partner.”

The company’s stock was up about 1% after the announcement, but fell as much as 3% in the day after. 

In a press release, Firestone’s chief executive, Paul Poynton, said the name change reflects the company’s desire to make a stronger connection with the Irish people.

“This will make us more visible to our customers and the wider world, and will be a powerful endorsement for our Irish heritage and our heritage as a producer of Canadian oil,” he said. 

According to the Irish Times, the name of the new company, Firestones Patagonia, was approved by the Irish parliament in September. 

The new name was announced after Irish Prime Minister Leo Varadkar visited G.p.P.’s headquarters in Valletta, Italy, on Wednesday. 

G.p, the largest producer of petroleum products in the world, is one of Europe’s biggest oil companies.

The company produces more than half of the world’s oil and more than 90% of its refined products.