He found a place ideal for his plan in Pardubice where there was not only water and railway, but also diverse industry. First boilers were fitted and the laying of pipelines began in the spring of the year 1889. Later, some other buildings were erected: for dewaxing and for the production of candles. Thus, in addition to kerosine, the entire Austro-Hungarian Empire was flooded with yellow packages bearing the inscription "Pardubitzer Paraffin Ceresin und Kerzenfabrik".

Oils of all types – spindle, vaseline, steam-cylinder and heavy ones – started to drive out the until then generally recognized American products not only in Austria, but also abroad. In the year 1907,  David Fanto converted the enterprise into a joint stock company and became its commercial director himself. The share capital of 12 million crowns comprised the plants in Hungary, branches in Paris, naphtha mines in Boryslav in Galicia (a historical region of Poland) and an extensive fleet of cisterns, petroleum tankers and re-pumping stations. The company maintained its strength and dynamism even after World War I.

In the 1920s, all refineries were merged and the headquarters of the company were established in Prague – Smíchov. Using the domestic petroleum extracted near Gbely (Slovakia), the enterprise was able to produce the best and cheapest products, and became thus the only processor of this raw material. Later, the company processed petroleum from Persia, Russia, America, Venezuela and Romania, which was the exclusive raw material until the year 1938.

In addition to that, the company started to manufacture automotive oils, which were mixed from the American steam-cylinder oils Continental-Brightstok and filled into small containers under the brand of 'Fantolin'. During the Nazi occupation, the operation of the solvent dewaxing plant was suspended. In the year 1944, the work started on the construction of a new selective refining plant, which was interrupted by air raids. After two-fold bombing at the close of World War II, hardly a quarter of the plant survived.

Already in the year 1945, the construction of thePardubice Refinery of Mineral Oils, National Enterprise(Pardubická rafinérie minerálních olejů, národní podnik) started from the ruins and debris. The basic focus of the enterprise was and still is the processing using atmospheric distillation. This was supplemented with a vacuum column in the year 1943, with a filtrate distillation plant in the year 1947 and with a gasoline evaporator in the year 1955. The intensification of the equipment had a considerable impact on the increased volume of the processed raw material.

In the year 1960, under the corporate name ofParamo, the Pardubice Refinery of Mineral Oils, National Enterprise became an exclusive producer of special asphalts. At the beginning of the year 1962, the Pardubice plant was incorporated into theChemical Plants(Chemické závody) in Záluží in the Krušné Mountains. From the year 1966, Paramo was an independent enterprise again. The production was significantly increased after 1 September 1973, when a new plant for the atmospheric distillation of petroleum was put into operation. At that time, the production of fuels increased considerably, i.e. the production of gasolines, motor oil and of heating oils in particular.

After 1 January 1994, when it was transformed from a state-owned enterprise into a joint stock company, Paramo picked up the threads of the responsible work of the previous generations.

Since the end of 2000, Paramo, a.s. has been a member of the Unipetrol Group, which owns hundred percent of the company shares.

In 2003, the fusion with Koramo Kolín was completed and Paramo has thus strengthened its position on the domestic as well as international markets.

A significant milestone in the history of Paramo was formed by the year of 2005, when the company became a member of the largest central European refinery and petrochemical group - PKN Orlen.

In 2021 and 2022, a synergy between PARAMO, a.s. and ORLEN OIL took place. The production and sales of finished oils and greases at PARAMO were discontinued and these products were replaced on the market by ORLEN OIL products.

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