U.S. Venture Inc.’s petroleum and renewable energy division, U.S. Oil, has expanded eastward.
According to a report by the Oil & Gas Financial Journal, U.S. Oil has acquired a refined products terminal, which adds 410,000 barrels of capacity, in Indianapolis. Along with increased capacity, the new terminal expands U.S. Oil’s distribution network to 21 terminals in North America.
Through this new terminal U.S. Oil hopes to build relationships with unbranded and independent marketers, as well as branded dealers in the Midwest. U.S. Oil also intends to enhance its new facility through biofuel opportunities and additional capital investment.