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Gull Petroleum eyes overseas acquisitions

Western Australian independent fuel wholesaler and retailer Gull Petroleum said it will consider east coast and potential overseas acquisitions in its growth plans. The company has already identified several acquisition opportunities, said Chief Executive Wayne Ferrell. Gull has a network of 132 retail sites across Western Australia and New Zealand. According to Ferrell, market expansion is important during times of economic hardships. It is important for certain sized players to “grow or get out,” he said. Gull was future-proofing itself by venturing not only into other markets but other products as well, such as biofuel derived from non-palm oil sources like tallow and whey. (July 2, 2009)