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Article: Star crowds Exxon as leader in Eastern U.S. retail gasoline sales. (Star Enterprise) (Refining & Processing) (Company Profile)
- Article from:
- The Oil Daily
- Article date:
- January 8, 1992
CopyrightCOPYRIGHT 1992 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Star Enterprise, the U.S. oil refiner and marketer, is emerging as a threat to surpass Exxon Corp. as the top gasoline marketer in the eastern U.S., company officials and analysts say.
The 50-50 joint venture between Texaco Inc. of the U.S. and state-owned Saudi Arabian Oil Co. (Saudi Aramco) doesn't get much attention because of its low profile: there aren't any Star branded retail outlets.
The company's strengths are fundamental. It has a guaranteed Saudi crude oil supply, and relatively new and efficient refineries. It appears committed to maintaining capital investment at a time competitors are announcing cutbacks, analysts say.