Oil 4 Wales doubles turnover in second year of trading

Independent oil distribution company Oil 4 Wales has reported a £70m turnover in its second year of trading.

The Carmarthen-based company has doubled in size over the course of the year and now supplies over 17,000 customers in Wales with a range of fuel services to their homes, businesses, agricultural and retail premises.

In the last year, the company has established a new 300,000-litre depot in Felinfach, Ceredigion, in order to expand its services across mid and west Wales.
This adds to its depots in Carmarthen and Cardiff, as well as its 16 petrol stations across south and mid Wales.

The family run business was established in 2011 by Colin Owens with the aim of establishing a truly independent Welsh oil brand. Owens is no stranger to the oil industry having founded Owen Fuels in 1991 building it into the largest oil company in Wales and selling it at its peak, with turnover at £350m, to Texaco Ltd (now owned by GB Oils) in 1997.

He said: “This year our focus has been consolidating our first year growth and existing customer base, as well as establishing our new West Wales depot.
“By opening this new depot in FelinFach, we are able to reduce our logistics costs which, in turn, benefits our customers who gain from these savings. It also allows us to deliver a better and more efficient service to customers in the local area.”

The company is on track to grow its turnover to £110m in its third year, as well as make a profit. Over the next year, it has plans to open depots in mid and north Wales to fulfill its aims of becoming a Wales-wide distributor.

“When we established Oil 4 Wales, we did so with the aim of creating a truly Welsh oil brand that focused on giving a good deal to the communities of Wales.

We now have established a solid base in south and west Wales and our plans going forward focus on the mid and north Wales markets. As we continue to grow our presence across Wales, our buying power and truly Welsh focus means that the local community will get a much fairer price for its fuel.”