veteran+ wrote: ↑October 24th, 2023, 7:57 am
My point is the continuing consoliation of everything around us.
This is not good in any way.
Of course, Hess had already sold off their retail locations (to Speedway), but even when those existed I don't think there was much, if anything Chevron in the same areas.
So, a bit different that two chains that have more overlapping areas combining like the supermarket situation
Hess overlapped with Chevron's operations in the mid-Atlantic (derived from Gulf among others). Further North, BP took over most Gulf stations.
Exploration is the more profitable end of the business, so it's not surprising that the consolidation is there, esp. since an existing company with know reserves means you don't have to invest in new reserves (even though there are tax benefits).
OK, that must be the odd area out - I just know that you don't see Chevron anywhere up here (NY) or even in NJ that I've noted, nor into New England either (all of which had some type of Hess at given times).
