Diamond Oil's History
In 1978, John Chance and Dick Rice purchased several bulk plant operations from Sun Oil Co. and founded Diamond Oil Company. They started the business with a few fuel trucks, a bulk lubricant truck and a 24’ box van. They successfully operated the business until 1997 when Dick Rice retired and John became the sole owner. In 2000, John Chance stepped down as the majority owner of Diamond Oil Co. and invited another generation into the business.
In 2000, the petroleum distribution business was fragmented with hundreds of small businesses scattered throughout the country. They were faced with the financial risk of huge price swings in petroleum products, insurance costs escalating and regulatory requirements gaining complexity. Jason Chance purchased the company with a vision to grow Diamond Oil Company by helping these businesses realize the financial value they worked hard to create. In the past 15 years, the company has completed over 10 acquisitions expanding from two locations in Iowa to eight locations serving both Iowa and Nebraska.
During this expansion Diamond Oil Company has become a true full service petroleum provider to the many customers it serves. We invite you to explore our website to fully understand our product offering and how we can help you with your petroleum needs.
CLient Success Team
Come to the office
and chat with John!
Territory Development / Race Product Sales