Fuel Buying Portal is Funded

April 24, 2000

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FuelQuest, Inc., Houston, TX, has finalized funding for, a new e-commerce portal for petroleum marketing.
FuelQuest will serve 10,000 independent petroleum marketers who distribute 50 to 70 percent of petroleum products in the U.S.
By partnering with petroleum marketers across the country, FuelQuest will provide supply chain integration between refiners/suppliers, marketers and commercial and retail end users. The FuelQuest system encompasses ordering, product delivery, invoicing and logistics for fuel-related products and services.
A FuelQuest spokesman told the site won't serve fleets directly but will enhance efficiency within the petroleum industry to the benefit of all. For example, distributors who serve fleets, he said, will be able to operate more efficiently using FuelQuest. However, the extent to which savings will be passed on to fleets will depend on market conditions at any given time.

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