Net proceeds total $209.8 million before expenses. Susser Petroleum Partners LP has completed its initial public offering of 10,925,000 common units representing limited partner interests in Susser Petroleum Partners at $20.50 per common unit. The number of units issued at closing included 1,425,000 common units issued pursuant to full exercise of the underwriters’ option to [...]
Susser expects to use the proceeds to repay its parent company for capital expenditures. Susser Petroleum Partners LP’s common units climbed as much as 16% on their market debut, a day after the company priced its initial public offering slightly below the top end of its expected range, Reuters reported. Susser Petroleum Partners LP priced [...]
Total fundraising surpasses $20 million dollars in 25-year partnership. Valero Corner Stores raised $2.1 million in its 2012 Muscular Dystrophy Association (MDA) fundraising campaign. The amount represents a daily average of over $75,000 during the campaign. This is the second time in the history of Corner Store MDA campaigns that Valero has achieved more than [...]
After an oil supply disruption leaves stations without gasoline, BP looks for new distributors. BP has terminated regional distributor Green Valley Oil’s contract, effective Friday, April 13, after some 218 BP stations faced supply disruptions in the greater Boston area. The 218 sites supplied by Green Valley Oil are in Massachusetts (122), Connecticut (55), New [...]
Since 1995, CITGO has offered payment products from Citi Retail Services, allowing CITGO locations to quickly and efficiently process purchases, and offering customers added convenience and flexibility. Citi Retail Services and CITGO Petroleum Corp. have announced a multi-year renewal of their long-standing U.S. private label credit card relationship. This extension is the latest in a [...]
“LiftRetail Solutions extends our digital media reach into the convenience store environment,” says VeriFone spokesperson. VeriFone Systems Inc. has announced the acquisition of LIFT Retail Marketing Technology Inc., the provider of a digital marketing system designed to increase sales for convenience stores. Financial terms were not disclosed. LIFT Retail, based in Atlanta, developed and markets [...]
Industry Veteran Brad Williams, former senior vice president of operations at The Pantry, joins Mid-Atlantic Convenience Stores. Mid-Atlantic Convenience Stores (MACS), one of the largest ExxonMobil fuel distributors in the Mid-Atlantic region, has appointed of Brad Williams to its executive leadership team. Williams will serve as senior vice president of store operations and will oversee [...]
More than 200 fans showcased talents for a chance to win prizes. Gas station chain Phillips 66 has announced the winners of its Local Legends online video competition—with Chris Dryden from Hannibal, Mo., coming in first place. Bringing customers the best in performance gasoline, Phillips 66 hosted this contest in 2011 to find areas where [...]
The proposed pipeline could bring up to four million barrels of Canadian crude oil per day by 2020. Senator John Hoeven (R-ND) has introduced legislation, which would expedite the construction of the Keystone XL pipeline by granting Congress the authority to move the project forward without the President’s consent. Citing Congress’s authority enumerated in the [...]
The political momentum to bring renewable energy products to the pumps is strong and growing. But with all the added costs to rebuild the nation’s petroleum infrastructure, is it worth it? By John Lofstock, Editor. Preparing for the future is a complex issue retailers should always be pondering. But in the fuel business this question [...]
Out of sight, out of mind could land convenience store and gas station owners in serious trouble if they neglect their underground storage tanks (USTs) any longer. By Howard Riell, Associate Editor. With fines for leaks on the rise, regulations for tank compliance data retention getting longer and reporting frequencies increasing, the time has come [...]
Massachusetts retailer is the 19th operator in 53 years to receive the association’s Distinguished Marketer Award. By John Lofstock, Editor. Few people have seen the convenience store and petroleum industry evolve as has Richard Salinsky, president of Best Petroleum in Lynn, Mass. With more than 50 years of experience and dedication to the industry, Salinsky [...]
Drivers can be notified by text message when their laundry is complete. TravelCenters of America LLC (TA) has begun its rollout of the most modern laundry facility equipment on the highway. TA’s 190 laundry rooms in company-operated locations today contain nearly 2,000 washers and dryers; all of these machines are expected to be replaced with [...]
“We intend to play an active role in the ATA to help promote the success of the trucking industry and continue to foster the respect its drivers deserve,” says TA CEO. American Trucking Associations has welcomed TravelCenters of America LLC as its newest allied member. “I am excited about becoming an ATA member. TravelCenters of [...]
Gas marketer Getty Petroleum Marketing Inc has filed for Chapter 11 reorganisation, Reuters reported. The bankruptcy filing comes a week after Getty Realty Corp. threatened to end its lease agreement with the gas-station operator for defaulting on payments. East Meadow, N.Y.-based Getty Petroleum Marketing is the largest tenant of Getty Realty, which owns and leases [...]