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September 24, 2008
CSP Daily News FLASH—————————————————————–
RICKER OIL ACQUIRES 32 BP STORES
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ANDERSON, Ind. — Ricker Oil Co. Inc. announced today that that
it has reached agreement with BP to purchase all 32 of BP’s
company-operated or -supplied stores in the greater Indianapolis
area.
Ricker Oil plans to operate or supply the Indianapolis market
sites by the end of October with the majority of these stores
remaining ampm franchised. The company is a BP and Marathon
supplier and said that it looks to further expand the ampm
franchise in the near future.
Founded in 1979, Ricker Oil is a family-owned company based in
Anderson, Ind. It owns and operates Ricker’s convenience stores
in Indiana, as well as a petroleum distributorship and other
enterprises. -
It looks like BP is following on COP heels and selling out stations and my comment would be same as it was for ConocoPhillips that this has to be stupid move no matter what short term economics say (see August Post on Petrosun buying COP stations). But after visiting with several people I can begin to see the cost & capital avoidance & turning in some cards on these crazy fractured state specifications that have spawned over 14 different gasoline/diesel specs across the US to the point where they are no longer fungible products (max would be 5 specs).
One my guys said that part this de-integration is around pulling back to refining basics – because states like NC & SC are/could start mandating retail stations to not only bring in RFG with ETOH but also require someone in chain to have gasoline w/out ETOH meeting same spec. Neither NC or SC have ANY refining capacity in thier states and will eventually pay higher price at pumps for these types of stupid decisions.
<Think the ripple effect from Ike on lot states w/out or few refineries to have wake up call on what its like to have shortage will be great help for interjecting reason to these type States..>
These idiot states (worst actors are of course ones like NC/SC that have no refineries or ones that have less 3 refineries – combined these categories total to almost 38 of 50 states) have caused enough damage with 14 spec’s as it is – and guess it will take worse crisis than Ike/Gustav or Katrina/Rita to create shortages for things go to Fed “fungible 5 spec” mandate to clean this crap up.
Regards
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