Petroleum and renewable energy company US Oil has acquired an oil products terminal in Milwaukee from Marathon Petroleum Corporation.
The terminal will add 530,000 barrels of capacity to the US Oil network and will expand its distribution network to 20 terminals.
US Oil, a division of US Venture, already owns and operates terminals in various locations including Wisconsin, Texas, Michigan and Iowa.
Plans are underway to upgrade technologies at the Milwaukee area facility.
The company said in a statement that the acquisition strengthens US Oil’s relationship with Marathon and its customers.
Mike Koel, vice president of business development for US Oil, says: ‘With this acquisition we will continue to service our customers through distribution, wholesale, branded and logistics businesses.’
John Swearingen, senior vice president of transportation and logistics at Marathon, adds: ‘US Oil has an excellent reputation in terminal operations and management. We expect the transition to go smoothly.’