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PeI joins e85 coalition
The Petroleum Equipment Institute (PEI)
has joined the ‘Coalition for E85’ – a group of
retailers, producers, equipment manufacturers
and other supporters of E85 fuel. PEI executive
Vice President Robert Renkes says the goal of
the Coalition is to protect the investments of
2 500 small businesses and stop a multimilliondollar
tax hike on consumers. “Fuel marketers,
equipment manufacturers and the motoring
public have invested a significant amount of
money in building the E85 infrastructure and
flex-fuelled vehicles”, said Renkes. “We must not
abandon E85 this close to self-sustainability.”
Currently, other alternative fuels, such as
compressed natural gas, propane and hydrogen,
receive a US $ 0.50 per gallon tax credit as part
of the Alternative Fuel Credit and the Coalition
believes E85 should be included as well.
Propel Fuels voted most
promising company
Propel Fuels, a leading retailer of renewable
fuels, has been chosen by Forbes Magazine
as one of the most promising companies in
America. Forbes’ list of ‘America’s Most Promising
Companies’ features 100 privately held
up-and-comers with compelling business models,
strong management teams, notable customers,
strategic partners and investment capital. At
42nd, Propel is the highest ranked renewable
energy company on the list and was recognized
for its ground breaking approach in a traditional
industry and for the large market opportunity
served by its fuelling stations. Today there
are more than 20 million cars on the roads of
America that can fill-up with alternative fuels
and millions more in production each year.
buchanan energy sell
61 gas stations
Buchanan Energy LLC has tapped NRC Realty
& Capital Advisors LLC to sell 61 gas stations
in the Chicago and St. Louis areas. The
sites up for sale are 38 ExxonMobil-branded
gas stations in the Greater Chicago area and
23 BP-branded stations in the Greater St. Louis
area. All 61 stations are being sold with branded
fuel supply, according to NRC. The sale will be
conducted using NRC’s “buy one, some or all”
sealed bid sale process. The bid deadline for the
St. Louis-area stores is 16th February, while the bid
deadline for the Chicago-area stores is 8th March.
USA NEws
Midocean Partners announces acquisition
MidOcean Partners, a leading private equity
firm, announced that it has acquired a
majority equity position in Jones & Frank, a
leading value-add equipment distributor and
repair, maintenance and installation services
provider to the fueling infrastructure industry.
Jones & Frank is one of the leading distributors,
servicers and installers of fueling equipment
such as fuel dispensers, fuel storage tanks,
pumps, nozzles, hoses, valves, point of sale
Seal Beach-based Clean Energy Fuels Corp.
has raised another US $ 150 million from prior
investors, including legendary Oilman and
Corporate Raider T. Boone Pickens. Pickens
exercised warrants to purchase 15 million shares
of the company’s common stock at US $ 10
per share. Pickens purchased 1.5 million of
those shares and transferred the remaining lot
to previous investors, including RRJ Capital,
Seatown Holdings International Pte. Ltd.,
Chevron will be encouraging customers to
use their mobile devices near a fuel pump, at
least if they’re paying for gas. Chevron Corp.
will be testing Google Wallet in the San
Francisco and Los Angeles markets at more
than 600 gas stations with contactless readers
on their pumps. Chevron is only promoting
About seven months ago, Joe Davis stopped
selling gasoline at his Sunoco station, Pro
Automotive, because he could not turn a
profit with the fluctuating fuel prices and
other costs. Davis’ move follows a national
trend that could lead to higher prices at
pumps across the nation, according to experts.
Throughout Ohio today, there are about
7 600 gas stations – 1 800 fewer licensed
gas retailers than in 2000 and 1 004 less
Exxon sold 84 gas stations in Houston to a local
company, forcing the stations to temporarily
close as the new owner took over. Exxon sold
the gas stations to Houston-based Landmark
Industries, which has more than 170 gas sta-
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– WWW.PetRoLPLAzA.CoM
systems, electronic displays and related
components to retail fueling stations, commercial
and government fleets and emergency
power customers. The Company’s network of
12 branch locations, two distribution centers
and 120 technicians across fourteen states
positions Jones & Frank as one of the few
companies capable of servicing retail and
commercial customers with locations spanning
multiple regions.
Clean energy raises US $ 150 million
Chevron to test Google Wallet
Oklahoma City-based Chesapeake Energy
Corp. and Chief Capital LP, an investment
fund owned by energy investor Trevor Rees-
Jones. Clean Energy raised US $ 450 million
in 2011 with the latest investment, Chief Executive
Andrew Littlefair said. Clean Energy
has annual revenue of more than US $ 200
million and hopes to clear earnings hurdles
by building a network of fueling stations for
the largest segment of the market.
the program at West Coast locations but all
of its stores with NFC readers will be able
to accept Google Wallet. A report quoted a
Chevron spokesperson who said the “soft
launch” of Google Wallet at Chevron locations
will give consumers the ability to gain
first-hand experience with mobile payments.
Convenience stores replacing gas stations
exxonMobil sells 84 gas stations
than in 2005, according to Ohio’s Bureau
of Underground Storage Tank Regulation.
The recent reduction in gas stations in
Ohio follows a similar pattern in the United
States, though the market is holding steady
as convenience stores have replaced the
traditional stations and sell gas along with
other merchandise. In the late 1970s, there
were 215 000 U.S. gas stations and that
dropped to 105 000 in 1994.
tions in Texas under various brand names.
Most of the stations are branded Time-wise.
Exxon has been slowly pulling out of the fuel
retail business since 2008, selling its companyowned
gas stations.