Shell to Acquire Timewise Stores & Establish Foundation to Grow Company-Owned Network in U.S.
https://www.csnews.com/shell-acquire-timewise-stores-establish-foundation-grow-company-owned-network-us
Shell just purchased 248 company operated stations and supply to 117 dealers. Are we in the twilight zone? SOPUS announced in 2003 it was divesting of all company operated stations in the U.S. and converting to a model where all of the stations are owned by wholesalers or retailers. Since then the company has also sold every refinery in the U.S. except Convent which is shuttered. Puget Sound is selling to Holly Frontier. Selling the 50% share in Deer Park. They do not have a refinery that supplies one gallon of fuel to branded stations. 60% of the volume is supplied through Saudi Aramco {Motiva}. A major retreat away from downstream U.S. across the board.
There is a new division called, "Shell Retail and Convenience Operations" ARE YOU FREAKING KIDDING ME? Shell went through great pain to sell a portfolio of some 3,000 stations. They sent up the white flag on convenience retailing in the U.S. because they sucked at it and the organization was disconnected with across the pond. Now their buying gas stations again? Wow. That is some revelation folks. There have always been some in the org who thought they will come full circle back to command and control gas stations in the U.S. They were right.