The business model of the Company related to the products is described as follow:
Penzoil purchases vessels of oil products from rafineries.
The product is transported by vessels or to the storage location.
Penzoil product is stored in tanks until the delivery time to the customers.
In other cases, Penzoil will trade cargo's back to back on water or delivered to customer terminal sites.
The Company's sales channels are:
Majors Oil Companies (in tank transfer)
Distributors (pump stations)