Oil & Gas Divestitures in 2023
Acquisition Volume in Oil & Gas Divestitures in 2023 by Year
Last 5 years
-
- Buyer
- Global Partners LP
- Target
- 25 liquid energy terminals (from Motiva Enterprises LLC)
- Seller
- Motiva Enterprises LLC
- Industry
- Oil & Gas
- Location
- United States
- Type
- Divestiture
Global Partners LP completed the acquisition of 25 liquid energy terminals from Motiva Enterprises LLC for $305.8 million in cash, supported by a 25-year take-or-pay throughput agreement with Motiva. The purchase nearly doubles Global's U.S. terminal footprint, expanding access to marine loading facilities and major refined-product pipelines to strengthen its supply, storage and retail network.
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January 4, 2023
- Buyer
- Offen Petroleum
- Target
- Gas Depot, Inc. (wholesale division), Gas Depot Oil Company (wholesale division)
- Seller
- Gas Depot (owned by George Nediyakalayil)
- Industry
- Oil & Gas
- Location
- Illinois, United States
- Type
- Divestiture
Offen Petroleum has acquired the wholesale division of Gas Depot, Inc. and Gas Depot Oil Company, marking Offen's first expansion into the Chicagoland and Great Lakes region. The deal adds over 150 retail gas station/convenience-store customers and municipal accounts, and Offen will establish an operations center in Chicago and hire Gas Depot operations personnel.
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