|More Price Increases
ConocoPhillips announced late Friday that
effective Friday, December 21, 2007, it will
raise its prices for all lubricants
approximately 5 - 9%.
The company advised its marketers that they
expect increased demand
prior to the price change. Because of this,
it will limit
the volume distributors purchase at the old
lower price to 125% of their base volume from
Nov 1, 2006 to Oct. 31, 2007.
Petro-Canada also up its lubricant prices
10%, effective as
CITGO announced an increase in its lubricant
prices up to 10%.
Similar to Shell, CITGO's price increase
gives more than the usual amount of time
before the increase goes into effect. Its
effective date is 1/1/08.
|MAXUM PETROLEUM ACQUIRES NEW MEXICO & PANAMA FACILITIES
Maxum Petroleum, Inc. ("Maxum"), a leading
energy logistics company, today announced the
acquisition of two separate petroleum
marketing operations, one in New Mexico and
the other in Panama.
Maxum, through one of its operating
subsidiaries, Simons Petroleum, has acquired
the assets and business operations of
Farmington Oil Company, a regional petroleum
marketer based in Farmington, New Mexico.
Operated by the Allee family for nearly 30
years, Farmington Oil is a respected,
long-time industry participant, providing
fuels and lubricants to commercial &
industrial accounts throughout the Four
Corners region of New Mexico, Utah, Colorado
and Arizona. Farmington Oil will be operated
as a division of Simons Petroleum, and key
personnel from Farmington have joined Simons
to continue to serve the Four Corners region.
Further, through another of its operating
subsidiaries, General Petroleum, Maxum has
acquired a lubricant blending facility in
Balboa, Panama, formerly owned by Esso
Standard Oil of Panama (Exxon). General
Petroleum currently distributes fuel and
lubricants in Panama, through a Panamanian
subsidiary. This newly acquired blending
facility provides an opportunity to expand
upon Maxum's existing customer base of deep
draft marine vessels in the Panama Canal
area, as well as serves as a launching point
to serve the greater Central America
"Maxum continues to successfully execute our
strategy of identifying, executing and
integrating strategic acquisitions", said
Perot Bissell, Maxum Petroleum's CEO.
"Certain acquisitions expand our geographic
footprint and industry reach, such as our
acquisition of Petroleum Products in West
Virginia earlier this year. Others, such as
these New Mexico and Panama acquisitions,
provide opportunities to complement our
existing operations and fill out geographic
areas we already serve."
|MF Energy Corporation expands lubricants market to San Antonio
SMF Energy Corp., a Fort Lauderdale,
Florida-based company, signed a deal with
Chevron to amend its Texaco Lubrication
Marketers Agreement to include the
metropolitan San Antonio market.
SMF Energy is a wholesale supplier of
lubricant products to the trucking,
construction, utility, energy, chemical,
manufacturing, telecommunication and
government service industries. The company
already markets lubricant products under the
Texaco brand in Dallas, Houston, Beaumont,
Lufkin, Longview, Waxahachie and Temple. The
newly expanded marketers agreement includes
the counties that make up the San Antonio
market as well as those that abut the
Interstate 10 corridor between San Antonio
"The ability to distribute the Texaco
lubricant product line in San Antonio
complements our current fuel distribution
business in that market and will allow us to
expand into a larger facility while spreading
the costs across a broader product line," SMF
President and CEO Richard E. Gathright says.
Antonio, a major logistics hub with foreign
trade zone status at the former Kelly Air
Force Base. All of these factors contributed
to SMF's decision to expand into San Antonio,
Jobbers World Online News Briefs reported in
error that Chevron's
price increase kicks in on December 20, 2007.
The correct date the increase for Chevron and
Texaco lubricant brands goes into effect is
December 10, 2007.