Delek US Holdings Announces the Formation of DK Trading & Supply
01/11/2019 | 04:51pm EDT
BRENTWOOD, Tenn., Jan. 11, 2019 (GLOBE NEWSWIRE) -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced the formation of DK Trading & Supply, LLC (“DK Trading & Supply”), a wholly owned subsidiary of Delek US. This will consolidate commercial activities for crude oil, refined products and renewable purchases, sales and other commercial activity under one entity in 2019. These activities had previously been conducted through a series of companies under the Delek US umbrella.
Avigal Soreq, EVP and Chief Commercial Officer of Delek US, stated, “Following a series of acquisitions, customers and suppliers were previously working with different entities under Delek US. This step should enhance the customer and supplier experience as it consolidates these activities under one name in the marketplace that should simplify processes with our counterparts. Our strategy, values and relationship with customers, partners and stakeholders remains the same.”
Commencing January 2019, customers and suppliers will begin transitioning to DK Trading & Supply. As this transition is made during the first half of 2019, business previously carried out under the Delek US umbrella (including but not limited to Delek US Holdings, Inc., Delek Refining, Inc., Lion Oil Company, Delek Marketing & Supply, LLC, Alon USA, LP, Alon Refining Krotz Springs, Inc and Delek Renewables, LLC) will be done through DK Trading & Supply. Customers and suppliers should direct any questions related to this transition to their normal credit or commercial contact.
About Delek US Holdings, Inc. Delek US Holdings, Inc. is a diversified downstream energy company with assets in petroleum refining, logistics, renewable fuels and convenience store retailing. The refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
The logistics operations primarily consist of Delek Logistics Partners, LP. Delek US Holdings, Inc. and its affiliates own approximately 63% (including the 2 percent general partner interest) of Delek Logistics Partners, LP. Delek Logistics Partners, LP (NYSE: DKL) is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets.
The convenience store retail business is the largest 7-Eleven licensee in the United States and operates approximately 295 convenience stores in central and west Texas and New Mexico.
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