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    Petroleum & Petroleum Products Wholesalers Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 3/22/2021
    SIC Codes: 5171, 5172
    NAICS Codes: 4247
    Chapters Include:
    Industry Overview Trends & Challenges Industry Forecast
    Quarterly Industry Update Call Prep Questions Website & Media Links
    Business Challenges Financial Information Glossary & Acronyms
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    Excerpt from Petroleum & Petroleum Products Wholesalers Industry Profile

    Companies in this industry store, transport, and distribute wholesale petroleum and petroleum products, including liquefied petroleum gas. Major US companies include Equinor, Global Partners, Mansfield Oil Company of Gainesville, Inc, Sunoco, and World Fuel Services.

    The global petroleum industry processes about 95 million barrels of crude oil each day, according to the 2018 BP Statistical Review of World Energy. The US and China have the largest refining industries, together accounting for about a third of global capacity. Other leading countries include Russia, India, Japan, and South Korea.

    The US petroleum wholesale distribution industry includes about 6,400 establishments (single-location companies and units of multi-location companies) with annual revenue of about $1 trillion. Variations in the prices of crude oil and refined products can cause revenue for distributors to fluctuate significantly.

    COMPETITIVE LANDSCAPE

    Demand for petroleum comes mainly from auto and truck use and home heating. Profitability is determined by the efficiency of operations. Most companies are local and operate a single "bulk station" (tank farm), although the large companies may operate a dozen facilities and serve several states. Large wholesale purchasers generally can negotiate bigger price discounts from suppliers and spread the cost of bulk holding facilities over a larger number of gallons. The US industry is concentrated: the 50 largest companies generate about 80% of revenue.

    PRODUCTS, OPERATIONS & TECHNOLOGY

    Products include gasoline (about 40% of US industry revenue), diesel fuel and heating oil (about 20%), and crude ...

     
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