Petroleum Heat and Power Co., Inc., a Minnesota corporation ("Petro" or the "heating oil segment"), which is an indirect subsidiary of the Partnership, has signed a new $260 million revolving credit facility agreement with a group of lenders led by JP Morgan Chase Bank, as administrative agent. The revolving credit facility provides the heating oil segment with the ability to borrow up to $260 million for working capital purposes (subject to certain borrowing base limitations), including the issuance of up to $75 million in letters of credit. Obligations under the revolving credit facility are secured by liens on substantially all of the assets of the heating oil segment, accounts receivable, inventory, general intangibles, real property, fixtures and equipment. Obligations under the revolving credit facility are guaranteed by the heating oil segment's subsidiaries and by the Partnership. The heating oil segment borrowed an initial $119 million under the revolving credit facility on the Closing Date, which the heating oil segment used to repay amounts outstanding under the heating oil segment's existing credit facilities. On December 15, 2004, the Partnership received an informal inquiry from the Division of Enforcement of the Securities and Exchange Commission.
View Top Employees from Petroleum Heat & Power CorporationWebsite | http://www.petrohp.com |
Revenue | $608 million |
Employees | View employees |
Address | 1245 Westfield Ave, Clark, New Jersey 07066, US |
Phone | (203) 325-5400 |
Industry | Electricity, Oil & Gas, Energy, Utilities & Waste Treatment |
SIC | SIC Code 517 Companies, SIC Code 51 Companies |
NAICS | NAICS Code 424 Companies, NAICS Code 42 Companies, NAICS Code 4247 Companies, NAICS Code 42472 Companies |
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The Petroleum Heat & Power Corporation annual revenue was $608 million in 2023.
Petroleum Heat & Power Corporation is based in Clark, New Jersey.
The NAICS codes for Petroleum Heat & Power Corporation are [424, 42, 4247, 42472].
The SIC codes for Petroleum Heat & Power Corporation are [517, 51].