BNSF TO USE E-MARKETPLACE TO BUY FUEL
Burlington Northern and Santa Fe Railway Co. said it plans to tender 9 million gallons of fuel over the American Petroleum Exchange, a neutral electronic marketplace.
BNSF said the fuel is a portion of their Gulf Coast requirements.
“Using APE to host our first electronic fuel auction will provide a foundation for determining how BNSF will use Internet-based fuel purchasing in the future” said Cheri Carlson, BNSF's assistant vice president, transportation and fuel management. BNSF purchases 1.2 billion gallons of fuel annually.
The Fort Worth, Texas-based railroad will tender the auction on March 27.
APE said it has worked with dozens of large fuel buyers and suppliers to build the Web-based neutral e-marketplace. The site has handled more than 1,700 diesel fuel transactions. This will mark the first U.S. railroad to use the service, APE said.