Products
The business model of the Company related to the products is described as follow:
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Purchase of products
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Transport and delivery to deposit for storages or to final customer
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Release storaged product on customer request
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Broker
Products flow
Product
Penzoil purchases vessels of oil products from rafineries.
Transport
The product is transported by vessels or to the storage location.
Storage
or back-to-back sale
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.
Final customer
The Company's sales channels are:
Majors Oil Companies (in tank transfer)
Distributors (pump stations)
Wholesalers/Retailers