Penn Octane Corporation · Palm Desert, CA United States ·(Pink Sheets: POCC)
Company Description
Phone: 760-772-9080
Fax: 760-772-8588
View Penn Octane Corporation Locations On A US Map
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This link will open in a new window Penn Octane has taken its foot off the gas (liquefied petroleum gas, or LPG), and throttled back on the octane. The company has no assets other than its role as 75% owner and manager of Rio Vista GP LLC, the general partner of pipeline and terminal company Rio Vista Energy Partners . Once a provider of LPG transportation and storage services, in 2006 Penn Octane sold its LPG assets to TransMontaigne Product Services, a wholly owned subsidiary of TransMontaigne , for $9.8 million, to pay down debt. The company also exited its gasoline and diesel fuel reseller operations in 2008 to further pay down expenses. Former chairman Jerome Richter controls about 28% of the company. To read the full description, subscribe now.
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Key Penn Octane Corporation Financials
| Company Type | Public - Pink Sheets: POCC Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $57.3 |
| 2008 Employees | 61 |
Penn Octane Corporation Executives
5 executives listed for Penn Octane Corporation's Palm Desert, CA location.
| Title | Name & Bio | Contact |
| Chairman | Richard Canney | Network |
| Acting CEO, Acting President, VP, CFO, Treasurer, and Assistant Secretary | Ian Bothwell | Network |
| Director | Bruce Raben | Network |
Competition
Competitive Landscape for Penn Octane Corporation
Demand for petroleum comes mainly from auto and truck use and home heating. Profitability is determined by the efficiency of operations. Most companies are local and operate a single "bulk station" (tank farm), although the large companies may operate a dozen facilities and serve several states. Large wholesale purchasers generally can negotiate bigger price discounts from suppliers and spread the cost of bulk holding facilities over a larger number of gallons. An economic recession or dramatic price fluctuations, such as those that occurred in the first half of 2008, reduce demand for gasoline. Concerns about US dependency on foreign fuel and environmental issues also impact demand. Any decline in demand can adversely affect petroleum distributors. To read the full description, subscribe now.Top Penn Octane Corporation Competitors
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