United Refining Company
| File:United Refining logo.png | |
| Type | Private |
|---|---|
| Industry | Oil and natural gas, Convenience stores |
| Founded | 1902 |
| Headquarters | Warren, Pennsylvania, United States |
| Area served |
Ohio, Pennsylvania, and New York |
| Key people |
John Catsimatidis (CEO) James E. Murphy (CFO) Myron L. Turfitt (COO) |
| Products | Petroleum and derived products |
| Revenue |
$2,387,171,000[1] (2009) 25.6% from 2008 |
| Operating income |
$91,468,000[1] (2009) 273.9% from 2008 |
| Net income |
$38,027,000[1] (2009) 176.2% from 2008 |
| Employees | 4,387 |
| Subsidiaries |
Kwik Fill Country Fair, Inc. |
| Website | www.urc.com |
The United Refining Company is an oil company in Warren, Pennsylvania. The company operates an oil refinery in Warren that can process 70,000 barrels of oil into gasoline, diesel fuel and other petroleum distillates per day.[2] It distributes gasoline under the Kwik Fill, Citgo, and Keystone brands.
History
The United Refining Company was founded in 1902 by Harry Logan, Sr. Harry Logan, Jr. succeeded his father as president and chairman of the United Refining in 1957. In 1981, John Catsimatidis acquired United Refining as a subsidiary of his Red Apple Group.
The refinery was expanded from 60,000 barrels per day (9,500 m3/d) to 65,000 barrels per day (10,300 m3/d) in 1982. It was expanded again to have a processing capacity of 70,000 barrels per day (11,000 m3/d) in 2007.
Citgo
United Refining acquired the brand name of Citgo, when in 2002 it bought a local gas station and convenience store chain called Country Fair, Inc. in Erie, Pennsylvania.[3] Country Fair has a license agreement with Citgo to use "Citgo's brands, trademarks and other forms of identification."[4]
After Venezuelan President Hugo Chávez's speech to the United Nations, there were calls to boycott the Citgo brand.[4] United Refining officials watched to see if the brand became "too hot to handle"[4] and drop the brand name even though United Refinery's crude oil comes from Canada.[4] United Refining also removed some Citgo signs from gas stations they were operating in upstate New York and Pennsylvania due to the potential threat of a boycott on Citgo.[5]
Alternate energy
United Refining is looking for sources of ethanol to blend with gasoline in accordance with the Energy Policy Act to save $20 million in taxes in gasoline excise taxes.[6]
Convenience stores
United Refining Company distributes its oil through its line of owned-and-operated convenience stores, totalling approximately 375 throughout upstate New York, Pennsylvania, and Northeast Ohio. The stores operate under the names Kwik Fill, Red Apple, or Country Fair.
References
- ↑ 1.0 1.1 1.2 "United Refining Company Reports Fiscal 2009 Year End Results" (PDF) (Press release). United Refining Company. November 30, 2009. http://www.urc.com/pdfs/media_center/2009_11_30_Press_Release.pdf. Retrieved April 28, 2010.
- ↑ Carroll, Jim (May 10, 2007). "United Refining hikes capacity". Erie Times-News.
- ↑ Martin, Jim (January 1, 2002). "Warren, Pa.-based United Refining buys convenience store chain Country Fair". Erie Times-News.
- ↑ 4.0 4.1 4.2 4.3 Carroll, Jim (October 11, 2006). "Comments spark call for Citgo boycott". Erie Times-News.
- ↑ Associated Press. "Citgo signs coming down in response to Venezuelan leader's remarks". WSTM-TV. Archived from the original on September 28, 2007. http://web.archive.org/web/20070928152225/http://www.wstm.com/Global/story.asp?S=5658105&nav=2aKD. Retrieved July 18, 2007.
- ↑ Bartlett, John (Auguster 9, 2005). "Ethanol panel has customer". Erie Times-News.
External links
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