One of WEX’s Longest-Standing Clients Signs Extension

Rhea-AI Summary

WEX (NYSE: WEX) has extended its service agreement with LUKOIL North America LLC, continuing a 34-year partnership. The multi-year agreement enables LUKOIL to keep using WEX's branded fuel cards across North America. LUKOIL's senior manager highlighted WEX's innovative service as vital for their fleet customers. The longstanding relationship, dating back to 1986, underscores both companies' commitment to customer service and mutual growth. As LUKOIL expands, WEX remains dedicated to supporting their partnership.

Positive

• Multi-year service agreement strengthens WEX's ongoing relationship with LUKOIL North America.
• The partnership, established in 1986, highlights WEX's reliability and customer service.

Negative

• None.

WEX (NYSE: WEX), a leading financial technology service provider, has signed an extension of services with LUKOIL North America LLC, a client of WEX for 34 years. The multi-year agreement continues the use of branded fuel cards throughout North America.

“WEX offers a turn-key, innovative and consistently-performing program that allows LUKOIL North America to offer its fleet customers the products and services they expect,” says Jake Naggy, senior manager of commercial activities at LUKOIL North America. “As we expand, WEX will be a key technology partner in that growth.”

LUKOIL North America’s long-standing working relationship with WEX started in 1986 with Getty Petroleum Marketing, Inc., LUKOIL’s predecessor. Since that time, by focusing on customer relationships and technology, both companies have seen rapid growth throughout North America.

“The length of our working relationship is a testament to our professionalism and commitment to customer service,” says Jay Collins, senior vice president and general manager of WEX small business. “Our companies have a deep mutual respect for each other. As LUKOIL grows, we’re committed to growing our partnership, as well.”

About WEX
Powered by the belief that complex payment systems can be made simple, WEX (NYSE: WEX) is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in 20 currencies through approximately 5,000 associates around the world. WEX fleet cards offer 15 million vehicles exceptional payment security and control; purchase volume in travel and corporate solutions grew to approximately $40 billion in 2019; and the WEX Health financial technology platform helps 390,000 employers and more than 32 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.

About LUKOIL North America
LUKOIL North America is a subsidiary of the major global energy company PJSC LUKOIL, and strives to deliver maximum satisfaction to the motoring public through high quality motor fuels and oils with outstanding service. LUKOIL North America markets LUKOIL-branded motor fuels and lubricants through a network of 219 fueling stations across the Northeastern and Mid-Atlantic United States. In addition, LUKOIL North America offers various associate services, including fleet fueling. For more information visit lukoilamericas.com.

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FAQ

What is WEX's recent agreement with LUKOIL North America?

WEX has signed a multi-year service agreement with LUKOIL North America, continuing their partnership for branded fuel card services.

How long has WEX been partnered with LUKOIL North America?

WEX has been partnered with LUKOIL North America for 34 years, dating back to 1986.

What services will WEX provide to LUKOIL North America?

WEX will continue to provide branded fuel card services across North America as part of the new agreement.

How does the partnership benefit LUKOIL?

The partnership allows LUKOIL to offer vital fuel products and services to its fleet customers, enhancing their operational capabilities.