CW Petroleum Corp (CWPE): 2021 Gross Revenues Exceed $8 Million

Rhea-AI Summary

CW Petroleum Corp (OTCQB: CWPE) announced a 16% increase in gross revenues for 2021, exceeding 2020 figures. Driven by growing demand for its No Ethanol fuel amid rising gas prices, the company aims to expand its business into the Northeastern USA and Chicago markets in 2022. CEO Chris Williams emphasized strategic actions that resulted in consistent growth and expressed optimism for a robust financial year ahead, which could positively impact the stock price.

Positive

• 16% increase in gross revenue for 2021 compared to 2020.
• Strong demand for No Ethanol fuel driven by consumer interest and higher gas prices.
• Plans for expansion into new markets, including the Northeastern USA and Chicago.

Negative

• None.

Katy, TX, Jan. 12, 2022 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB: CWPE), a leading PROPRIETARY REFORMULATED NO ETHANOL FUELS AND BIOFUEL provider, reports that for the fiscal year 2021, it has exceeded 2020 Gross Revenues. In addition, the company continues to seek to expand its PROPRIETARY NO ETHANOL GASOLINE sales into the Northeastern USA and Chicago markets in 2022.

Chris Williams, Chief Executive Officer of CW Petroleum Corp, shared, “We are pleased to announce a 16-percent increase in gross revenue for 2021. Strong demand for our No Ethanol fuel, along with a surge in consumer demand and higher gas prices, drove growth. We anticipate our bottom line to remain on a positive path as we raise additional funds to expand our footprint in new markets and continue to develop sustainable fuel products.”

Williams added, “Since our inception, we have taken deliberate strategic and operational actions that have resulted in consistent year-over-year gross revenue growth. Looking into the new year, we expect to deliver another robust financial year that will positively affect our stock price.”

Media Contact
The Pontes Group
Lais Pontes Greene (954) 960-6083
lais@thepontesgroup.com
www.thepontesgroup.com

For additional information, visit our website at cwpetroleumcorp.com , email: investor@cwpetroleumcorp.com , or call 281-817-8099

About CW Petroleum Corp

CW Petroleum Corp supplies and distributes Biodiesel, Biodiesel Blends, Renewable Gasoline, and a Proprietary EPA Approved Reformulated No Ethanol Gasoline to distributors, convenience stores, marinas, and end-users.

Forward-Looking Statements

Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the company’s filings with the Securities and Exchange Commission.

FAQ

What is CW Petroleum Corp's revenue growth for 2021?

CW Petroleum Corp reported a 16% increase in gross revenues for 2021 compared to 2020.

What markets is CW Petroleum Corp expanding into in 2022?

CW Petroleum Corp plans to expand its No Ethanol gasoline sales into the Northeastern USA and Chicago markets in 2022.

What factors contributed to the revenue growth of CW Petroleum Corp?

The revenue growth was driven by strong demand for No Ethanol fuel and higher gas prices.

What are the expectations for CW Petroleum Corp's financial performance in 2022?

CW Petroleum Corp anticipates another robust financial year that may positively affect its stock price.