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Published on 20, Apr 2023
Apex Petroleum Announces Acquisition of Contracts Worth $250+MM Annually
LARGO, MD–Apex Petroleum (“Apex”), an award-winning, privately held oil and gas services company founded in 1994, has acquired multiple multi-million-dollar contracts with a combined annual value of over $250MM. Founder/CEO/President Anthony Onianwah states that this growth is the result of Apex’s ongoing strategies for developing new technologies and techniques, improving efficiency and sustainability, and enhancing market competitiveness.
“These contracts represent an exciting new chapter for our company. For the last few years in particular, our team has been working hard to position Apex for expansion and to be a major supplier of fuel products,” Onianwah states. “We began with obtaining substantial business lines of credit through Wells Fargo Bank and Wesbanco Bank, which has allowed us to purchase essential new equipment and invest in our staff so that we can meet our customers’ growing needs.”
Apex has focused on increasing its market competitiveness by strengthening relationships with key fuel product suppliers. To augment its capabilities and further expand into new markets, the company has also worked to acquire smaller firms and extend its geographic reach. These steps have led to a greater ability to achieve economies of scale and the streamlining of operations.
“As a result, in addition to these new contracts, we have excellent partnerships with school systems; major commercial enterprises; and federal, state, and local governmental organizations,” says Oniahwah. “We owe this success to the talent and commitment of Apex’s team, whom we deeply appreciate. As 2023 continues, we look forward to deepening our relationships with our valued clients and to helping to guide our industry in a more sustainable direction.”
About Apex Petroleum
Apex Petroleum (“Apex”) was founded by President/CEO Anthony Onianwah, who has over 30 years of experience in the oil and gas industry. Apex specializes in the distribution of motor fuel, heating oils, automotive-grade lubricants, and petroleum equipment to Fortune 1000 commercial clients as well as government agencies at the federal, state, and local levels. It also provides related services, such as fuel cards, storage, delivery, and management, to cater to its clients’ varying needs. The company has an extensive wholesale oil distribution network that spans multiple states, including Maryland, Virginia, Delaware, Pennsylvania, North Carolina, and the District of Columbia. Apex and Onianwah have received several awards, including the "Minority Business Enterprise Energy Company of the Year" award in 2008 from Maryland’s State Governor as well as Onianwah's recognition as a 2013 Top 100 MBE in the Mid-Atlantic region.
For more information about Apex Petroleum, please contact:
Abass M. Akeju
917-412-6498
