Demetrios Haseotes

Demetrios Haseotes, entrepreneur and Hemisphere Limited CEO, speaks at last December's CRC groundbreaking ceremony. Continental Refining Company announced on Thursday the acquisition of Russell County Oil, LLC.

Continental Refining Company (CRC) is growing its scope, with the Thursday announcement that the company has acquired Russell County Oil, LLC.

CRC, based here in Somerset serving as a fuel producer and distributor for customers in Pulaski and eight surrounding counties, is making the acquisition as part of continued expansion. The company is currently investing $31.5 million — up from $25 million as originally planned — to acquire and install a soybean crushing, biodiesel refining and blending facility at the local legacy CRC oil refinery, home of the former Somerset Refinery.

Russell County Oil, LLC is a bulk fuels provider based in Russell Springs, Ky.

The new acquisition includes Russell County Oil’s bulk terminal in Russell Springs, along with more than 200 active customers to whom it provides bulk fuel and wet fueling services for Russell and surrounding counties in the region. The company also provides on-site tank solutions for high volume customers, according to information provided in a release Thursday by CRC.

The purchase was completed on Wednesday, June 29.

CRC officially reopened its fuel distribution and bulk lubricant operations last November, offering on-site fueling for retail, commercial and industrial, construction, agriculture, and residential customers. CRC has also entered into a marketing agreement to distribute Phillips 66 bulk lubricants and products. The company offers two types of transport as part of its services — large tanker transport and tank wagon.

Demetrios Haseotes, entrepreneur and Hemisphere Limited CEO, purchased the refinery in 2011, investing over $71 million updating the facility’s crude oil refining capabilities over the years and adding the soybean crushing, biodiesel refining and blending facilities.

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