Valerologo

Valero Plans Separation of Retail Business

Company prepares to spin off fuel stations. Valero Energy Corp.’s board of directors has given the official OK for the company to sell or spin off its network of fuel stations, which could be worth as much as $2.8 billion, Businessweek reported. Spinning off the retail business is one of many moves CEO Bill Klesse

acquisition

Cloutier Oil Divests Stores To Victory Properties

A 53-year old company exits the c-store business.  Cloutier Oil, after 53 years in the business, has sold its business to Victory Properties.  Victory Properties, is a partnership formed by Rex Gillis of Columbus and Joe Morris of Ridgeland, two businessmen who also do business with Shell Oil. Victory properties purchased 11 Gas Lane and

acquisition

Circle K Acquires Neighbors Stores

Eleven properties to change hands today with sale closing soon. Neighbors Stores Inc. is selling 11 stores to Circle K, citing increasing competition from larger corporations, for the move, The Mount Airy News reported. The properties sold include Neighbors stores in high-traffic areas of Surry County, N.C. The sites changed hands Monday, with the sale

SALEsign

Buchanan Energy Selling 61 Stations

Locations for sale in Chicago and St. Louis markets. Buchanan Energy LLC is selling 38 ExxonMobil-branded gas stations in the Greater Chicago area, as well as 23 BP-branded stations in the Greater St. Louis area.  All 61 stations are being sold with branded fuel supply with help from NRC Realty & Capital Advisors. “These stores

ATLAS

Atlas Makes New Executive Appointments

Atlas Oil has announced additions to its executive team.  Shawn Ryan, formerly director of the Atlas Oil’s DELTA Process Improvement team, has been promoted to vice president, operations. Ryan will also join the company’s senior leadership team. In addition, Atlas has hired Michael Loomis as director of sales operations. “I am very pleased to make

Marathon Selling Minnesota Downstream Assets

Marathon Oil Corp., an integrated energy company, has announced that its wholly owned subsidiary Marathon Petroleum Co. LP has closed the transaction with ACON Investments LLC and TPG Capital for the sale of most of Marathon’s Minnesota downstream assets. ACON and TPG formed Northern Tier Energy LLC (Northern Tier Energy) to operate the assets as

Sunoco to Sell Toledo Refinery

Sunoco Inc. has reached a definitive agreement to sell its 170,000 barrel-per-day refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC. Sunoco plans to sell the refinery for approximately $400 million (consisting of $200 million in cash and a $200 million two-year note). In addition, the

Shell To Sell Downstream Businesses in Finland, Sweden

Shell has agreed to sell the majority of its refining and marketing businesses in Finland and Sweden to Keele Oy. The terms of the transaction, which are subject to regulatory approvals, include Shell’s retail business, including some 340 service stations in Sweden and some 225 in Finland, as well as its commercial road transport (CRT)

Four Puffin Stops Head To Auction

JJManning Auctioneers is selling four “Puffin Stop” Gas Stations / Convenience Stores in Maine. The stores will be auctioned off individually on Thursday, July 15, 2010. The Terms of Sale include a 10% deposit of which $20,000 Per Property must be presented in cash, certified or bank check at the auction. The remainder of the

Marathon to Divest 166 stores

Marathon Oil Corp. has signed a non-binding Letter of Intent with ACON Investments LLC, NTR Partners LLC and TPG Capital, L.P. to sell most of its Minnesota downstream assets.   The assets include the 74,000 barrel per day St. Paul Park refinery and associated terminal, 166 SuperAmerica convenience stores along with the SuperMom’s Bakery (a

Kum & Go Names New Advertising Agency of Record

Kum & Go has named Cranford Johnson Robinson Woods (CJRW) as the company’s advertising agency of record. Starting January 2010, CJRW will aid in the strategic development of Kum & Go marketing initiatives and will execute materials ranging from in-store signage to broadcast advertising for Kum & Go and its portfolio of proprietary products. This

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