Marathon Petroleum Corp. agreed to buy rival oil refiner and fuel retailer Andeavor for $23.3 billion in a deal that would produce the largest independent fuel maker in the North America. Marathon is focused in the Midwest and Gulf Coast, while Andeavor’s refineries and pipelines are in western states. The combination of both would overtake…
Read moreFuel sales boost profit of U.S. convenience stores, says NACS
U.S. convenience stores experienced a 15th straight year of record in-store sales and a 4th straight year of $10 billion-plus in pretax profits, according to newly released NACS State of the Industry data, the convenience and fuel retailing industry’s premier benchmarks and key performance category insights. The industry’s numbers were announced during the NACS State…
Read moreShell announces plan to open 10,000 new stations
Oil giant Shell firmly believes that downstream and fuel retail will remain to be key business in the future. The oil major expects annual earnings in the retail segment to grow by more than $1.5 billion by 2025, from today’s $2.2 billion. More than 10,000 new sites will bring its total number of stations to…
Read moreNBB, NATSO and Others Call for Swift Reinstatement of the Biodiesel Tax Credit
The National Biodiesel Board (NBB) joined a letter sent to Congressional leaders from a diverse mix of associations that called for a retroactive, multi-year extension of the biodiesel tax incentive before the end of the year. In addition to NBB, the six other organizations that signed the letter include the Advanced Biofuels Association, the National…
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