Petroleum Marketers Association of America yesterday announced that it signed an exclusive endorsement agreement with Oilspot.com in an attempt to unite the established offline association with the Internet-based marketplace.
The PMAA agreed to promote, endorse and market Oilspot as its exclusive online petroleum marketplace.
Oilspot will pay an endorsement royalty and will work with PMAA and its 42-state and regional marketer associations to deliver e-commerce solutions through the Internet-based marketplace.
Oilspot allows marketers to participate in an independent online community, conduct transactions and receive real-time pricing, communication and industry information. It also provides suppliers, manufacturers and refiners with the ability to use the independent Internet-based marketplace to increase sales channels, reduce transaction costs and manage their supply chains more efficiently.