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Joseph H. Petrowski, the new chief executive of Gulf Oil's subsidiary Cumberland Farms, sees ambition in the small Northeastern based chain.
Petrowski plans to increase the number of Gulf-franchised Cumberland Farms gas stations to 3,000. The number that Petrowski is aiming for is 500 stations within the next three years, reported the Boston Herald.
With the addition of Gulf's bio-diesel business and other expansions, the $7 billion company will have much more weight in the gasoline game.
Petrowski chose Boston because it "has the potential to be a good energy center," he told the Boston Herald. He added that increased technology and oil imports have made giant oil locations like Houston less important.
Through its owned and leased bio-diesel production plants located in Florida, Texas and Delaware, Gulf Oil is the leader in alternative fuels production in the U.S. according to the report. Gulf Oil does not have plans for exploration and drilling, however.
According to Petrowski, the company owns terminals and a biodiesel plant and oversees franchise operations. When Gulf was splinted in the 80s due to Chevron's purchase and subsequent divestment, Rhode Island-based Cumberland Farms picked up the name and franchise agreements in the Northeast.
Harvard graduate and Brockton, Mass. native, Petrowski, joined Cumberland Farms to grow its business after it bought out co-investor Catamount Petroleum. At that time, Petrowski worked on Cumberland's board as a consultant and energy trader. Petrowski previously served as president of Consolidated Natural Gas, located in Pittsburgh, Pa.