Vincent Theurer Approved Oil Company Announces Long-Term New York Harbor Buckeye Storage Commitment

Approved Oil Company Announces Long-Term New York Harbor Buckeye Storage Commitment

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Apr 12, 2016, 06:15 ET

BROOKLYN, N.Y., April 12, 2016 /PRNewswire/ -- Vincent Theurer, President & CEO of Approved Oil Company of Brooklyn, is pleased to announce the completion of an agreement that will solidify his company's strategic footprint within the Buckeye Partners' deep-water Bronx (149th St) and Brooklyn (Court St) terminals for the next decade and beyond.

In addition to lengthening the term of Approved Oil's ongoing storage agreements, the newly completed deal includes capital projects to be taken place at both facilities aimed at significantly increasing the company's overall tank capacity, making it the clear majority stakeholder within the two terminals. The investment is a testament to Approved Oil's continued growth and commitment to being a premier fuel supplier to all of the New York City market.

"I am proud to announce the completion of this long-term storage agreement. The Approved Oil brand is built upon excellence in service to our customers, and this asset investment ensures that our competitive position as a leader in supply availability and price stability is secure for years to come," said Mr. Theurer.

The Buckeye Partner terminals are state-of-the-art facilities enabling Approved Oil to offer cleaner ultra-low sulfur fuel products and greener renewable-biodiesel blended products.

About Approved Oil Company:
Founded in 1932, Approved Oil Company has been a family owned mainstay of the New York Harbor fuel industry for generations. A focus on innovation and customer satisfaction has driven the company to expand beyond its original oil-heat delivery concentration to offering a full suite of complimentary energy services including: heating equipment installation & servicing, 24-hour emergency maintenance availability, and natural gas & electricity procurement.

The company holds sizable inventory positions within the New York Harbor and boasts an impressive logistics channel consisting of 60 delivery trucks and 55 service vans to compliment a multitude of strategic waterborne vessel partnerships.

Headquartered in Brooklyn, NY, Approved Oil Company has over 150 employees committed to serving each individual customer.

SOURCE Approved Oil Company