From several distinct origins into a leading global energy company

Our History: From 1984 to Today

Our history describes our evolution and how we grew into a leading energy company from several distinct origins. In 1984, Chairman Emeritus, Paul Stebbins, and CEO, Michael Kasbar, founded Trans-Tec, a marine fuel brokerage company. In 1995, International Recovery Corporation acquired Trans-Tec. The move transformed the organization and the name was changed to World Fuel Services. Over the past two decades, we have continued to grow through organic expansion and a series of strategic acquisitions. It’s an evolution that continues today.


  • 1985
    Trans-Tec formed
  • 1986
    International Recovery becomes a publicly-traded company
  • 1995

    International Recovery acquires Trans-Tec

  • 1998

    BaseOps acquisition adds flight-based services

  • 1999

    Bunkerfuels acquisition enhances market share in marine

  • 2000
    PAFCO joint venture expands aviation services
  • 2001

    Marine Energy, Norse Bunkers, Oil Shipping Group acquisitions expand marine

  • 2004

    Tramp Oil acquisition increases marine revenue by approximately 60 percent

  • 2007

    AVCARD acquisition expands business aviation transaction processing capabilities

  • 2008

    Texor acquisition expands branded distribution in land segment

  • 2009
    • Henty Oil acquisition expands marine and land presence in the United Kingdom

    • TGS Petroleum acquisition expands branded distribution in land segment

  • 2010

    Lakeside Oil and Western Petroleum acquisitions expand US land segment

  • 2011

    Hiller and Ascent Acquisitions expand business aviation offering

  • 2012

    World Fuel Services Corporation Acquires Assets of CarterEnergy Corporation

  • 2013

    World Fuel Services Corporation Acquires Assets of Multi Service Corporation

  • 2014
    • World Fuel Services Corporation Acquires Watson Petroleum Limited

    • World Fuel Services Corporation Acquires Colt International, LLC

  • 2015
    • WFS acquires Bergen Energi to grow energy & sustainability practice
    • ​WFS acquires energy management & consulting firm, KTM, Inc.
    • WFS acquires all the elements of BP’s former Statoil Fuel & Retail Aviation 
    • WFS acquires Pester Marketing 
  • 2016

    WFS acquires PAPCO, Inc.

    WFS acquires Associated Petroleum Products, Inc.