Family Owned Fuel Supplier to Rely Upon Industry Leading Fuel Management Solution
HOUSTON - (June 22, 2009) -- FuelQuest, Inc., the leading on-demand software and services company for the global downstream energy industry, announced today a five-year agreement with John E. Jones Oil Company (Jones Oil) for the use of its Fuel Management System (FMS). Jones Oil will deploy FMS to improve fleet utilization, reduce retains and run-outs, and increase visibility into tank inventory and usage trends.
"Transparency into our tank inventory is one reason we selected FuelQuest," said Patrick Lingg, controller of Jones Oil. "Another (reason) is that the solution is flexible so that we can deploy one or more sites at a time based on our time frame. We look forward to the savings and operational efficiencies driven by FuelQuest's FMS."
Jones Oil will leverage key capabilities within FMS that will virtually eliminate many manual processes and streamline operations to reduce costs and protect fuel margins. These include:
- More effective inventory management and demand forecasting to optimize working capital
- Increased ability to plan and respond
- Flexible implementation - initial implementation to Jones' retail facilities; subsequent roll out to participating customers.
FuelQuest's Fuel Management System (FMS) is the most comprehensive, end-to-end supply chain solution focused on reducing the cost of procuring, managing and accounting for bulk fuel. FMS powers the largest fuel management network in North America with more than 15 billion gallons managed annually.
"FuelQuest is very pleased to partner with a family-run business like Jones Oil who is very focused on their customer's satisfaction," said Matt Tormollen, president and CEO of FuelQuest. "We will collaborate on next-generation solutions that will make it easier for fuel distributors to create value and preferential awareness with their customers and prospects, while leveraging the strength of the FMS platform and North America's largest fuel management network."
About John E. Jones Oil Company
Founded in 1938, the John E. Jones Oil Company has strived to provide quality service at competitive prices. Today, this family owned business has been supplying gasoline, diesel fuel, and propane to our customers throughout Kansas and southern Nebraska for nearly seven decades. Our transportation service is second to none. All deliveries are tailored to the customers needs, making for on-time delivery of all products.
About FuelQuest
FuelQuest provides on-demand, web-based supply chain management and tax automation technologies for suppliers, distributors, buyers, and traders of petroleum products and other energy commodities. FuelQuest solutions deliver operational and financial value to over 750 customers. These customers include leading global oil companies, international retailers, shippers, and government entities. FuelQuest solutions help customers manage the complexity, regulation, and market volatility of billions of gallons of gasoline and diesel fuel annually. Zytax solutions process tens of billions of dollars of motor fuels excise taxes per year. Find out more online at www.fuelquest.com.
Media Inquiries:
Courtney Carstens
FuelQuest, Inc.
(713) 222-5721
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