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Gulf Oil, Cumberland Farms Subsidiary, Seeking Connecticut Electric Supplier License

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October 13, 2010

Gulf Oil Limited Partnership has applied for a Connecticut electric supplier license.

Notably, Gulf Oil Limited Partnership has applied to serve residential customers in addition to commercial and industrial customers.

Gulf Oil Limited Partnership said that for at least the first year of operations, it plans to conduct a pilot program, "in which we will supply electricity to our affiliate Cumberland Farms' retail locations, a Gulf Oil Limited Partnership oil terminal, and one individual residential customer (a Gulf Oil employee) in Connecticut."

"The purpose of this pilot program is to test our systems and procedures, both front and back office.  Upon successful completion of the pilot program, subject to internal approvals, we plan to begin actively marketing and expand our customer base," Gulf Oil Limited Partnership said.

Gulf Oil Limited Partnership is a wholly owned, indirect subsidiary of convenience store chain Cumberland Farms, which operates 600 stores in 11 states, many of which retail Gulf branded fuel.  Gulf distributes motor fuels through a network of 2,000 Gulf branded gas stations and service stations, as well as heating oil, diesel fuel and kerosene.

Earlier this year, Gulf Oil Limited Partnership regained (from Chevron) the rights to the Gulf trade name in areas outside of the Northeast, and has been expanding its retail gasoline presence through the Mid-Atlantic, including entry into Maryland.

Among other things, Gulf Oil Limited Partnership's subsidiary, Great Island Energy, provides various petroleum and fuel supply/hedging services to commercial and industrial end users.

Michael Lordi serves as Director of Retail Energy Business Development for Gulf Oil Limited Partnership.  Previously, Lordi was a senior vice president at CNG Energy Services and led its Pennsylvania retail electric market entry in the late 1990s.  Lordi has also had senior positions in energy trading with EDF Trading, Duke/Louis Dreyfus, and Enron Power Marketing, and was most recently president of Merchant Energy Consultants.

   
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