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Giant Industries Buys Dial Oil

NEW YORK -- U.S. oil refiner Giant Industries Inc. has bought Dial Oil Co., a wholesale distributor of gasoline, diesel and lubricants, for undisclosed financial terms, expanding its operations in the U.S. southwest.

Dial, based in Farmington, N.M., owns 12 service stations, four bulk petroleum distribution plants and a fleet of truck transports among other assets. The company sells about 100 million gallons of fuel and lubes annually.

Giant, based in Scottsdale, Ariz., said the purchase will help it expand its wholesale business in the Southwest and provide a platform for future growth.

Giant owns and operates one Virginia and two New Mexico crude oil refineries, a crude oil gathering pipeline system based in Farmington, N.M., which services the New Mexico refineries, finished-products distribution terminals in Albuquerque, N.M. and Flagstaff, Ariz., a fleet of crude oil and finished product truck transports, and a chain of retail service station/convenience stores in New Mexico, Colorado and Arizona.

Last month Giant announced it had agreed to acquire an idle crude oil pipeline that originates near Jal, N.M., and connects to a network supplying crude oil to its two New Mexico refineries.

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