Approved Oil, Sunoco Sign Long-Term NYC Terminal Deal


   
Daniel Rodriguez Huerta
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Approved Oil has secured a long-term agreement with 
Sunoco for a fuel terminal location in New York City, extending into the 2040s, 
as the company seeks to maintain access to critical petroleum distribution 
infrastructure serving the New York metropolitan market.

   The agreement was announced Monday (10/26), with Approved Oil citing a 
declining number of available fuel terminals in New York City and growing 
challenges in securing dependable infrastructure for wholesale and retail fuel 
distribution.

   The arrangement provides Approved Oil with long-term terminal access to 
support its regional customers, including independent fuel retailers, 
distributors and commercial businesses. The company said the agreement 
addresses uncertainty surrounding its existing access to fuel infrastructure.

   Approved Oil Chief Executive Officer Vincent Theurer said the company had 
faced significant operational challenges in securing terminal access and 
described the agreement as a long-term foundation for its New York operations.

   The company highlighted the importance of terminal infrastructure for 
distributing heating oil, diesel, renewable diesel and other liquid fuels used 
in transportation, residential heating and commercial operations.

   Approved Oil did not disclose the terminal's precise location, storage or 
throughput capacity, financial terms or expected start date under the agreement.




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