I don’t understand why we own ships and have such a large maritime presence/teams? Seems like a ripe area for ENGINE or simply rent ships from someone else. I can’t imagine we operate ships less expensive than the open market!
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@ax Delta Airlines owns the Trainer Refinery in Pennsylvania. Go figure!
The fleet is large and continues to grow. Now chevron is building LNG tankers.
This allows chevron to vontrol the mid stream supply chain and ensure delivery on our delivery contracts.
The largest private transportation company - Uber - does not own cars.
Airbnb and VRBO continue to grow market share in the short term accomodation industry and do not own buildings…
I do not think is a dum question from the OP.
Same way we do not own drilling rigs or frac fleets.
Because Chevron is fundamentally a shipping, trading, project management and retail company.
We don’t find oil - we outsource that or buy competitors who do.
We don’t do engineering - we outsource a lot of that.
We don’t do construction - we outsource that.
We don’t do maintenance, we are increasingly outsourcing that.
We don’t do IT, we’ve outsourced most of that.
We are even starting to outsource operations, increasingly preferring to be NOJV partners.
So shipping is one of the few things left.
MW.....I would expect someone within the organization can answer this question for you.
@OP I hope you put more thought into to your questions when you’re at work.
Airlines own Oil wells for Jet fuel?
Same reason airlines own airplanes, utilities own powerplants, railroads own railcars.