“Market conditions continue to pose challenges for our refining and supply segment and, while the refineries’ operational performance improved during the third quarter with crude utilization averaging 90%, the segment reported another loss,” says Sunoco CEO. Sunoco Inc. has reported a net loss attributable to Sunoco shareholders of $1,096 million ($9.62 per share diluted) for…
Murphy Oil Estimates Q3 Earnings
U.S. retail and marketing continuing operations generated earnings of $88.0 million in the third quarter of 2011 compared to earnings of $59.0 million in the 2010 quarter. Murphy Oil Corp.’s net income in the third quarter of 2011 totaled $406.1 million ($2.09 per diluted share), which was double the net income of $202.8 million ($1.05 per diluted share) in…
Marathon Petroleum Reports Strong Q3 Profits
As Marathon Petroleum cuts costs, fuel prices continue to climb, resulting in high Q3 profits. Marathon Petroleum Corp., which split from Marathon Oil Corp. earlier this year, reported soaring third quarter profits this week, according to Bloomberg Businessweek. Earnings totaled $1.13 billion, or $3.16 per share, for the three months ended Sept. 30, more than…
Coulson Oil Sets the Stage for Expansion
With a new real estate entity in place, the company is positioned to grow its chain of dealer-leased stores beyond Arkansas. By Erin Rigik, Associate Editor. Coulson Oil Co., one of the Southwest’s largest independent distributors of motor fuels, took a big step toward continued growth in August with the formation of Coulson Real Estate…
Climbing Gasoline Costs to Push Up U.S. Retail Average
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were mostly higher across major metropolitan markets in the United States for a second straight week, which should reverse the decline in retail prices, while fuel issues impacted drivers in Minnesota and North Dakota earlier this month. Kwik Trip said 13 of its…
Sasnett Takes the Helm at Additech
Bo Sasnett, vice president of sales for Outsite Networks, was named today as president and CEO of Additech, a leading outsourced operator of at-the-pump interactive merchandising systems. He will assume his new role on Oct. 24, 2011 and will join Additech’s board of directors. Ralph Koehrer, Additech’s Chairman, said that after an extensive search the…
Easy Trip Launches Digital Marketing Platform
Easy Trip Convenience Stores are dedicated to customer service. As part of that strategy, the Ohio chain has introduced a new mobile app and fresh Websites to fast forward into the mobile, social and digital worlds. A newly launched client with OpenStore by GasBuddy, Easy Trip is thriving with the new technology that includes a…
NACS Celebrates the Past, Looks to Redefine the Future
As NACS celebrates the convenience and fuel retailing industry’s remarkable achievements since it was founded 50 years ago, the association is equally looking toward the future, said NACS President and CEO Hank Armour during the NACS Show Opening General Session. It is expected that more than 22,000 attendees from 50 countries will attend the 2011…
Will Tesco Turn it Around?
Fresh & Easy is rolling out a new Express store format, but can the company come out on top after nearly four years of heavy losses? By Erin Rigik, Associate Editor. Tesco’s Fresh & Easy Neighborhood Market grocery chain debuted with a bang in 2007, rolling out 20 stores in rapid succession in California, Nevada…
Effectively Managing the Fuel Market
As gasoline prices trend upward, retailers are struggling to stay competitive on price while protecting their margin. By John Lofstock, Editor. The cost of fuel has been roaring up and down like a rollercoaster, and so has the risk to retailers when purchasing fuel in large quantities. Fortunes can be made by accurately predicting which…