Canadian fuel supplier Ultramar has been in business since 1956. Alfred E. Irving created the business, which has since expanded to rank among the biggest in Canada for the sale of fuel. In addition to running a nationwide system of terminals and pipelines, Ultramar also runs gas stations and convenience stores.
Valero Energy Corporation purchased Ultramar in 2006 for $6.6 billion. With its headquarters in San Antonio, Texas, Valero is a multinational American oil and gas company. With the acquisition, Valero was able to expand its business operations across North America and establish a presence in the Canadian market.
In contrast, Marathon Gas is a division of the similarly American-owned Marathon Petroleum Corporation. One of the biggest fuel sellers in the nation, Marathon Gas runs gas stations and convenience stores all throughout the country.
One of the most lucrative economic areas in Nigeria is the oil and gas business. The nation possesses large natural gas reserves in addition to being Africa’s top oil producer. More than 90% of the nation’s export revenue comes from this sector, which also significantly contributes to the GDP.
Owning a gas station can be a successful business, but it takes a substantial investment and in-depth knowledge of the sector. Fuel station profit margins fluctuate based on a number of variables, such as location, competition, and the price of oil.
In 2019, the average profit margin for gas stations in the United States was 2.2 cents per gallon, according to a research by the National Association of Convenience Stores. However, this can differ significantly depending on the geography and local competitors.
In conclusion, the international oil and gas company Valero Energy Corporation, situated in the United States, currently owns Ultramar. Additionally owned by Americans, Marathon Gas manages gas stations all around the country. Owning a gas station can be a successful business, but it takes a substantial investment and in-depth knowledge of the sector. Fuel station profit margins can differ significantly based on a number of variables, such as location, competition, and the price of oil.