Premcor Refining Group

Premcor Refining Group was established in 1932, and was known at that time as Clark Oil Refining Corporation. This privately owned company has now grown to be the fifth largest privately owned oil refining companies in the United States. Premcor at present operates four refineries at Port Arthur in Texas, Lima in Ohio, Delaware city in Delaware and Memphis in Tennessee.

Premcor Refining Group started off as a gasoline refining and marketing business when the founder Emory T. Clark invested in a series of gas stations, and sold its products through them. The business flourished, and thousands of Clark Oil gas stations came up in midwest region and states bordering this area. By the year 1970 there were 1489 Clark's gas stations and the company also had two refineries, in Blue Island and Woods River in Illinois. In 1999 Premcor came out of this retail business by selling all the stations and stores and also the brand name of Clark. The change of name, to the present Premcor Refining Group, happened in 2000.

As of July 2007 the combined capacity of these four refineries put together was 768,120 barrels every day. The Premcor Refining Group mainly produces diesel and gasoline fuel through its four refineries. The refinery which is at Port Arthur in Texas is the largest and began its operation after Texas discovered oil in 1901. This refinery is considered to have the most advanced technological features compared to any refinery in the world today. Apart from diesel and gasoline, this refinery produces fuel for jet airplanes. The refinery at Lima in Ohio is known to produce a fourth of the gasoline which is purchased in that state.

The Premcor Refining Group purchases crude from all over the world for its for refineries, as the group does not own any oil wells nor has any crude oil production of its own. The Premcor Refining Group has two groups who hold the majority of the shares. The biggest stake in the company is held by Blackstone Group affiliates which is an investment bank based in New York City. The other big stake is held by Occidental Petroleum. Apart from its main production of diesel and gasoline, the Premcor Refining Group, also manufactures heating oil, petroleum coke, petrochemical feedstocks and residual oils. All its products are distributed via 1200 distributors covering the Gulf Coast, the Midwest and eastern and southern United States.

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