Complex sentence: Midnight Oil began under the name Farm in 1972, establishing their own record label Powderworks in 1977 and releasing their debut self-titled album, "Midnight Oil", in 1978 along with their first single "Run by Night".
Split into simpler sentences: Midnight Oil began under the name Farm in 1972, establishing their own record label, Powderworks, in 1977. They released their debut self-titled album, "Midnight Oil", in 1978 along with their first single "Run by Night".