As per the terms of the agreement York River Fuels will use Glencore’s global sourcing, supply and trading, and inventory and risk management services to expand its wholesale business in the mid-Atlantic region, US.
York River, in exchange for these services will provide Glencore with rack marketing and contract and credit management.
Western Refining president and CEO Jeff Stevens said, "This agreement will allow York River to continue to provide a high level of service to its customers in a much more efficient manner."
Glencore US oil trading head Andy Kelleher said, "This agreement with York River brings together two complementary skill sets enabling us to support York River’s mid-Atlantic wholesale business."
Glencore has also secured an agreement with Epic Terminals for the Georgia terminal which has a storage capacity more than 450,000bbls for different grades of gasoline, distillates, ethanol, bio fuels and fuel blends.
The two subsidiaries will utilise the storing capacity of the terminal to further expand their business and supply fuel products to customers beyond the mid-Atlantic region.
