Private equity firm looking to sell Petroleum Products Corp.
- Private equity company Arclight Capital is seeking a buyer for Petroleum Products Corp.
- The terminals and associated supply company have about 4 million bbl of storage
- The terminals are connected by pipeline, barge, and rail
- ArcLight has used subsidiaries to expand into other downstream energy ventures
- LHT may attract substantial interest from other terminal operators or suppliers
Private equity company Arclight Capital is reportedly looking for a buyer for Petroleum Products Corp., a mid-Atlantic fuel supplier. The company, which has about 4 million bbl of storage across a dozen terminals in Pennsylvania, remains profitable. The terminals are connected by pipeline, barge, and rail, allowing for easy supply from various regions. Arclight has used subsidiaries to expand into other downstream energy ventures, and the sale of Petroleum Products Corp., also known as Lucknow-Highspire Terminals (LHT), may attract significant interest from other terminal operators or suppliers.
Public Companies:
Private Companies: Arclight Capital, Petroleum Products Corp., Lucknow-Highspire Terminals (LHT), Gulf Oil LP, Cumberland Farms, RaceTrac, Global Partners, TransMontaigne Partners, BP, Thornton’s
Key People: Tom Kloza (Reporter), Jeff Barber (Editor)
Factuality Level: 8
Justification: The article provides specific information about the acquisition of Petroleum Products Corp. by Arclight Capital and the subsequent renaming of the company. It also mentions other acquisitions made by Arclight in the downstream energy sector. The article includes details about the terminals and storage facilities owned by the company and their locations. It also mentions the bankruptcy of the former Hovensa refinery. The information provided seems to be factual and based on sources.
Noise Level: 6
Justification: The article provides information about the sale of a company by Arclight Capital and its previous acquisitions in the downstream energy sector. It includes details about the terminals and storage facilities, as well as the connections and potential buyers. However, the article lacks analysis or insights into long-term trends or antifragility. It also does not hold powerful people accountable or explore the consequences of decisions. The article stays on topic and provides some evidence and examples, but it does not offer actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the private equity company Arclight Capital and its potential sale of Petroleum Products Corp. This could impact the downstream energy sector and potentially attract interest from other terminal operators or suppliers.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article focuses on a potential sale of a company by a private equity firm and does not mention any extreme events or their impacts.
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