Petroleum Fuels

Even in a rapidly changing marketplace, America runs on petroleum fuels. And fuel companies face different challenges — and opportunities — than other parts of the downstream oil and gas industry. With more than 70 years of experience in the industry, Weaver understands how to help you succeed.

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Did You Receive a Schedule K-1 with Upstream Oil Income? Here’s What to Do

Received a Schedule K-1 with upstream oil income? Learn the five key steps to ensure accurate reporting, including deductions for IDC, depletion and asset sales.

Article

Demystifying Depletion: What Investors Should Know

Learn about depletion deductions for oil & gas investors. Understand percentage and cost depletion, key tax benefits and the impact on taxable income.

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Video

Energy Evolution, Episode 9 – Year-End Considerations

Explore year-end considerations including the critical aspects of 45Z credits, ITC for biogas and strategies for clean fuel production credits.

Article

Natural Gas Producers Can Claim Marginal Well Credit in 2024

IRS Notice 2024-52 confirmed the Marginal Well Credit applies in 2024, offering $0.77 per Mcf for qualified natural gas from marginal wells.

Article

Shale Maturation and the Drive for Technological Innovation

Shale maturation and technological innovation impact IP valuations, influencing long-term asset value and productivity in the oil and gas industry.

Article

Depreciation Strategies for Gas Stations with C-stores

Discover how gas stations with c-stores qualify for bonus depreciation under the retail motor fuel outlet exception.

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For decades, Weaver has been known for its energy compliance services related to helping businesses navigate compliance with evolving transportation fuels regulations. Our team of CPAs, professional engineers (PEs), chemists and environmental lawyers bring comprehensive knowledge to our clients. Not only are we able to help with the corporate aspects of running a business for the fuels industry, we have deep expertise surrounding the industry from an operational standpoint – including fuels blending and product quality. We assist fuel companies of all sizes and all markets, from refiners and importers of gasoline and diesel fuels, transmix processers, marketers and retailers.

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Key services and areas of focus include:

What Makes Weaver Different?

Dedicated audit/tax planning for efficient engagements, minimizing requests to your staff and providing a high level of partner interaction
Consistent industry teams that understand your business, industry and market conditions
Involvement in oil and gas organizations – we have a vast network and focus on referrals
Global, full service offerings for the energy space
Consultative approach, not just compliance-driven
Boots on the ground, with a large presence in the communities we serve
Private equity focus: investor confidence, deadline-driven, efficiency
Commitment to staff development with specialized training on the energy side

How Can Weaver Help You?

State & Local Tax Services

Tax overpayment recovery and audit defense
Sales and use tax consulting and compliance
Property tax consulting and compliance
Income and franchise tax consulting and compliance
Compliance automation, outsourcing and co-sourcing
Corporate relocation services
Motor fuels and excise tax

International Tax Services

Federal Tax Services and Strategic Planning

Private client services
Business tax services
Tax M&A and due diligence
R&D tax credits
Federal and state tax credit reviews (oil & gas)
Strategic tax planning
- Carried interest analysis
- Property by property recapture analysis
- M&A purchase price allocation guidance
- Institutional and foreign investor structuring
- Rate arbitrate transactional analysis (ordinary vs. capital gains)
- Focus on management team tax implications and planning
- Life-cycle focused tax strategy (acquisition, operational, disposition)