Marathon to acquire terminal, retail outlets in New York

Marathon Petroleum Corp., through subsidiaries including Speedway LLC, agreed to acquire a 900,000-bbl capacity light product and asphalt terminal and 33 NOCO Express retail outlets in Buffalo, NY, from NOCO Inc., building on prior investments to “maximize refinery utilization,” the company said.

“The terminal is well positioned to receive supply from the Midwest, Canada, or the New York Harbor via multiple supply routes, including pipeline, truck, rail, or waterborne vessels and deliver our products in this attractive new market,” said Gary R. Heminger, Marathon Petroleum chairman and chief executive officer.

The transaction is subject to regulatory approvals and other closing conditions.