US Oil, the petroleum and renewable energy distribution division of US Venture Inc., has acquired six terminals from Houston-based Noble Petro Inc. The new terminals add 1.75 million barrels of additional capacity and expand US Oil’s existing distribution network from 13 to 19 terminals in North America.
The acquisition includes three terminals located in high growth and demand areas of Texas, in the cities of Houston, Fort Worth, and Bryan. Additional sites include Green Bay, Wisconsin; Bettendorf, Iowa; and Rogers City, Michigan. The strategic locations provide access to the Magellan, Explorer, and Chicago-area pipelines, and offer marine access to the Great Lakes and Mississippi River.
“We are building out our terminal network supply system and connectivity to reach new markets,” said John Schmidt, CEO of US Venture. “This is US Oil’s fifth acquisition in three years, and we anticipate more growth in the years to come.”
Noble Petro, a subsidiary of Singapore-listed Noble Group, is a commercial supplier and wholesale distributor of refined petroleum products predominately serving the Midwest, Texas, and Southeast regions in the US.