Approved Oil Secures Long-Term New York City Fuel Terminal Agreement with Sunoco, Ensuring Supply Capacity into The 2040s

NEW YORK, Oct. 26, 2026 /PRNewswire/ -- Approved Oil has secured a long-term agreement with Sunoco for a new fuel terminal location in New York City, extending into the 2040s and marking a significant milestone for the company and the broader New York metropolitan area energy industry.

At a time when New York City's fuel terminal landscape has contracted and access to dependable fuel infrastructure has become increasingly important, this landmark agreement reinforces Approved's commitment to New York's liquid fuels industry, strengthens wholesale and retail supply capabilities, supports regional fuel supply resilience, and helps preserve critical fuel infrastructure in the region.

A Long-Term Commitment to New York's Fuel Infrastructure

As terminal options within New York City have diminished over the years, maintaining reliable access to this infrastructure has become an increasingly important issue for the entire industry. This agreement represents a major step forward for Approved and the customers, businesses, and industry partners it serves.

Approved securing a terminal location well into the 2040s, the company is strengthening its ability to serve the market, plan for the future, and continue supporting the businesses and communities that rely on its operations. It establishes a long-term foundation for continued operations, reinforces the company's position in the New York market, and supports the essential role that liquid fuels continue to play in the region's energy supply.

"This is much bigger than securing a terminal location. It is about advancing our future in New York, standing behind our customers, and continuing to invest in the infrastructure that keeps many industries moving," said Vincent Theurer, CEO of Approved Oil. "We faced a serious challenge to operations in New York City, and we were determined not to let that challenge define our future—or our customers' future. This agreement gives us the long-term safeguarding to move forward with confidence and reinforces our commitment to the wholesale and retail partners who count on us every day."

A Stronger Foundation for Wholesale and Retail Customers

The agreement carries significance beyond Approved's own operations. Reliable terminal access is essential to the distributors, independent fuel retailers, and wholesale customers that help keep New York's energy supply chain functioning. For these businesses, dependable infrastructure is fundamental to planning, serving customers, managing operations, and remaining competitive in a changing market.

The agreement also underscores the continued importance of liquid fuels and heating oil in a diverse regional energy system. Heating oil, diesel, Bioheat® fuel, Renewable Diesel and other liquid fuels remain essential to residential and commercial heating, transportation, construction, emergency power, and numerous business and industrial operations.

An Investment in the Future of the New York Energy Market

For Approved, securing this agreement represents the culmination of a determined effort to overcome operational challenges and preserving access to supply capacity. Throughout a period of uncertainty surrounding its terminal access, the company remained focused on serving its customers while pursuing a long-term solution.

"We beat the odds and secured more than a new location, but a long-term foundation for serving New York City," Vincent Theurer CEO added. "We are proud to continue building our future in New York City and grateful to the customers, partners, and supporters who stood with us throughout this process. We believe in this market, we believe in this industry, and we remain committed to the businesses and communities that depend on us. We look forward to sharing more to come."

About Approved

Approved is a New York-based energy company serving wholesale and retail customers throughout the New York metropolitan area. With a commitment to dependable service, strong customer relationships, and the long-term success of the region's energy industry, Approved provides fuel and energy solutions to the businesses, buildings, and communities that keep New York moving.

SOURCE Approved Oil Company