Nicholas Woodroof

The terminal has the capacity to store more than 2 million bbl of gasoline, diesel and jet fuel.

Affiliates of the two companies have entered into an agreement to jointly develop a futures contract for the physical delivery of crude oil in the Houston area.

Penspen has been awarded a detailed engineering contract from Target Engineering Construction Company in Abu Dhabi, UAE.

The sale of Mega Lubricants is to John W. Stone Oil Distributor, LLC for US$22.4 million.

As part of the transaction, Petroleum Service Corp. will absorb Fryoux's tankerman operations along the US Gulf Coast.