Vitol Inc., the U.S. subsidiary of the global Vitol Group, has formed a partnership with Midland-based LPC Crude Oil Inc., and had acquired fifty-percent of the company.
The company will conduct operations as LPC Crude Oil Marketing LLC. LPC Crude Oil is a leader in the gathering, marketing, and transporting of oil and condensate in the Permian Basin. As a privately held company, LPC Crude has a long term plan for steady growth with a continued focus on providing excellent customer service.
LPC Crude will continue to operate as a separate entity focusing on its core customer base. The entire management team will remain in place. The new partnership will provide additional reach and resources to grow and better help operators in the Permian Basin move their oil to market, while continuing to provide the excellent customer service that LPC Crude Oil Inc. is known for in the region.