Sprague Energy invested in the nation's first solar storage tank by applying thin-film solar panels to the tank's roof which now produces about 119,107 kilowatts per year. Credit: Rosemarie Mosteller/Adobe StockOil Co. Alleges Plot to Drive Away Competition in NYC's Liquid Fuel Market
Approved Oil Co. told the Brooklyn federal court that Sprague Holdings was able to consolidate control over the city’s storage capacity for heating oil and diesel fuel, a vital “choke point” in the liquid fuel distribution network, by acquiring Buckeye Terminal, the facility that Approved uses to store fuel for future deliveries.
January 15, 2025 at 05:02 PM
3 minute read
One of New York City’s energy suppliers accused a rival of monopolizing the city’s liquid fuel storage market in a purported effort to drive it out of the heating oil and diesel fuel market, according to a lawsuit filed by Dechert.
Approved Oil Co. told a Brooklyn federal court that a slew of Sprague Holdings-owned companies were able to consolidate control over the city’s storage capacity for heating oil and diesel fuel, a vital “choke point” in the liquid fuel distribution network, by acquiring Buckeye Terminal, the facility that Approved uses to store fuel for future deliveries.
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