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PAPCO, cofounded by C. Roger Malbon and his son John Malbon in 1976, started as Princess Anne Petroleum in 1958. The company began operating as PAPCO after acquiring CAPCO, a bankrupt petroleum company, at an auction in 1976. Today with over 150 employees, PAPCO specializes in fuel, lubricants and associated energy related products and services for marine and land based companies. PAPCO also distributes Shell, BP, Exxon, Mobil, Citgo and Valero motor fuels to more than 175 retail gasoline dealers in Virginia, North Carolina, South Carolina and Maryland.
PAPCO has been operating a facility in the Newport News Seafood Industrial Park for over 20 years. The company was attracted by the accessibility for commercial marine customers, making improvements to a previously abandoned site. At the Newport News location, PAPCO offers marine fuels and lubricants, complete dockside services, and access to a vast network of marine industry resources. They also provide comprehensive environmental support and are trained to properly handle oil spills including over the water fueling. Additionally, PAPCO distributes diesel fuel and home heating oil to local homes and businesses.
In 2015, PAPCO was recognized as one of the region’s Top 20 Fastest Growing Companies in Hampton Roads by Inside Business. In March, 2016 the company celebrated its 40-year anniversary. In July, PAPCO signed an agreement to be acquired by World Fuel Services, a Fortune 100 company based in Miami, providing more opportunities for growth and additional product lines and services for its customers.