M3104 - Wholesale marketing and storage of petroleum products

Operational Details
Wholesalers of petroleum products initially purchase the products from oil producers and then store the products until there is a market for them. The wholesalers are not involved in the production of oil in the oil fields, or in its transmission to the refineries. The petroleum products are purchased for resale from refineries or processing plants and then sold to other oil companies or petrochemical processors, but they are not sold on the consumer market.

Employers who produce their own petroleum products, and may or may not, process or refine the products, are classified in the same rate code as those who store and wholesale the product.

Other employers purchase petroleum products and direct them to be transported through a pipeline
for storage or processing.

There is some cross-over between employers in this subcode and those transmitting, or transporting and storing petroleum products .

SIC Codes
000000508 - Petroleum marketing/storage