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fuel

Foster Fuels CEO Watt R. Foster Jr.
May 23, 2024

Foster Fuels wins potential $442M FEMA contract

Brookneal-based fuel delivery provider Foster Fuels has won an up to $442 million contract to provide emergency services to the Federal Emergency Management Agency. Under the five-year Defense Logistics Agency Energy (DLA) contract, which the Defense Department announced May 15 and Foster Fuels announced Tuesday, Foster Fuels will be the prime contractor for emergency fuel […]

Dec 21, 2023

Arko names new CFO

Arko has named Robert E. Giammatteo as its chief financial officer and executive vice president, according to a Thursday announcement from the Henrico County-based Fortune 500 company that is one of the nation’s largest convenience store operators and fuel wholesalers. Giammatteo will start his new role on Jan. 2, 2024. He will also serve as […]

Dec 7, 2022

BWXT begins production of fuel for 1st U.S. microreactor

Lynchburg-based BWX Technologies Inc. has begun producing the nuclear fuel that will power the first microreactor built and operated in the United States, the company announced Wednesday.  BWXT will manufacture a nuclear core for Project Pele under a $37 million award from the Idaho National Laboratory, as well as tristructural isotropic particle fuel, known as […]

Sep 12, 2022

Arko to acquire Transit Energy Group for $375M

Arko Corp., a Fortune 500 holding company for Richmond-based convenience store chain GPM Investments LLC, announced Monday that GPM and some of its subsidiaries have agreed to acquire South Carolina-based Transit Energy Group for approximately $375 million plus the value of inventory. Transit Energy Group has about 150 convenience stores and fuel supply rights to […]

Bernie Niemeier. Photo by Caroline Martin
Jun 28, 2022

Higher gas prices are needed

The U.S. inflation rate, which reached 8.6% in May, is at its highest point in 40 years. In 1982, it was just over 6%. Since then, the U.S. inflation rate has hovered mostly in the 2% to 4% range. The inflation rate is determined by changes in the cost of a fixed basket of 80,000 […]

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