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 moreUSA: Sheetz upgrades its entire network to be EMV ready
Pennsylvania-based gas station and convenience store operator Sheetz is moving forward with forecourt EMV upgrades across its entire network of stores. Sheetz has selected Gilbarco Veeder-Root’s FlexPay IV CRIND payment terminals and other dispenser technologies to upgrade its more than 500 stores. “These upgrades will also help us provide our customers with the most convenient…
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