Current Members of The Executives’ Club of Fargo-Moorhead are listed chronologically, by their joining date, beginning August 14, 2015
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Kent SatrangCEO Petro Serve USA
Hometown: Rolette, North Dakota
University of North Dakota
North Dakota State University
Club Member 64 | December 18, 2015
I’m Kent Satrang, your CEO at Petro Serve USA. Petro Serve USA is a diversified cooperative, founded in Moorhead, Minnesota in 1934. We are a locally-owned, diverse energy cooperative owned by its members. Petro Serve USA is the region’s finest energy supplier specializing in 100% American-made fuels. We are Fargo–Moorhead’s largest supplier of home heating, commercial and agricultural fuel, and propane and lubricating oil. Our passion for store growth is rooted in the belief that America needs to lessen its dependence on foreign oil. This explains our name, Petro Serve USA, and our registered tagline “Helping America Fuel Better”. It is our conviction that our neighbors and farm customers/owners, right here in our own backyard, can and must produce renewable fuels like ethanol and soy diesel to stop the importation of Middle East oil. America imports almost $1 billion in oil each and every day, much of it from countries that oppose freedom and our American way of life. At Petro Serve USA, we’ve worked hard to develop new high-tech blender pump infrastructure, and innovate national and local legislation.
When I got into the business in 1980, it was “location, location, location.” Now it’s “location, execution of your business plan, and proper structure.” You can’t be in the fuel business and be a poor operator, or you won’t last long. People in this business are excellent operators. We’re in a pennies business; we’re selling a product that we bought for 3.10 and we’re selling it for 3.12 and then we have to pay the credit card companies their fee. We try to be as efficient as we can be. Everything we do at Petro Serve is to drive net operating costs down.
In 1998 I moved to Fargo and we had probably about three convenience stores and did about ten million in sales. Three years later we got involved more in the ethanols and we doubled in sales to 20 million. Three years later we doubled to 40 million. And three years later we doubled to 80 million. And three years later we doubled to 160 million.