United Refining Company
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| United Refining Company | |
|---|---|
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| Type | Private |
| Founded | 1902 |
| Headquarters | Warren, Pennsylvania  |
| Area served | Ohio, Pennsylvania, & New York |
| Key people | John Catsimatidis, CEO |
| Industry | Oil and Natural Gas |
| Products | Petroleum and derived products |
| Revenue | ▼ $2,405,063,000 (2007)[1] |
| Operating income | ▲ $170,293,000 (2007)[1] |
| Net income | ▲ $85,706,000 (2007) [1] |
| Employees | 4,387 |
| Subsidiaries | Kwik Fill Country Fair, Inc. |
| Website | http://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.
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[edit] 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 subsidairy 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.
[edit] 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]
[edit] 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]
[edit] References
- ^ a b c United Refining Company (2007-11-29). "United Refining Company Reports" (pdf). Press release. Retrieved on 2008-01-26.
- ^ Carroll, Jim. "United Refining hikes capacity", Erie Times-News, 2007-05-10.
- ^ Martin, Jim. "Warren, Pa.-Based United Refining Buys Convenience Store Chain Country Fair", Erie Times-News, 2002-01-01.
- ^ a b c d Carroll, Jim. "Comments spark call for Citgo boycott", Erie Times-News, 2006-10-11.
- ^ WSTM. Citgo signs coming down in response to Venezuelan leader's remarks. Associated Press. Retrieved on 2007-07-18.
- ^ Bartlett, John. "Ethanol panel has customer", Erie Times-News, 2005-08-09.
