Approved Oil secures long-term New York City fuel-terminal agreement with Sunoco
Approved Oil announced Oct. 26 that it 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, Approved Oil said this landmark agreement reinforces its 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.
“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,” Approved Oil stated. “This agreement represents a major step forward for Approved and the customers, businesses and industry partners it serves.”
With 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,” said Vincent Theurer, CEO of Approved Oil. “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. 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.”
The agreement carries significance beyond Approved Oil’s own operations, the company stated.
“Reliable terminal access is essential to the distributors, independent fuel retailers and wholesale customers that help keep New York’s energy supply chain functioning,” Approved Oil said. “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.
For Approved Oil, securing this agreement represents the culmination of a determined effort to overcome operational challenges and preserving access to supply capacity, the company said.
Throughout a period of uncertainty surrounding its terminal access, the company said it has 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,” Theurer 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.”
