Royal Dutch Shell Plc is planning new, deeper cuts to its oil refining and retail operations after downstream weakness caused a 75% decline in fourth-quarter profits to $1.18 billion, Reuters reported. According to CEO Peter Voser, in 2010 the company plans $1 billion in cost cuts and 1,000 job cuts, mainly to come from the…
Alon Named Stalking Horse Bidder for Bakersfield Refinery
Dallas-based Alon USA Energy Inc. has been selected as the stalking horse bidder for the Bakersfield, Calif., refinery from Big West of California LLC, a subsidiary of Flying J Inc. Completion of the acquisition is subject to an auction process, bankruptcy court approval and customary regulatory approval. The Bakersfield refinery is located in…
Irving Oil Responds to Haitian Disaster
Irving Oil, a Fort Reliance company, is partnering with the Red Cross to provide aid to the Haitian disaster relief effort. The company will donate $50,000 and has committed to match all donations collected by Irving Oil employees until the end of January. “We’re all beginning to see the devastation the earthquake has caused to this…
Gulf Oil Acquires Gulf Brand From Chevron
Framingham, Mass.-based Gulf Oil LP, a division of Cumberland Farms Inc., has acquired the rights to the Gulf brand in the U.S. from Chevron USA Inc., the Boston Business Journal reported. Terms of the deal were not disclosed. Gulf Oil began using the Gulf name in 1986 through a licensing agreement with San Ramon, Calif.-based…
Fuel Rising Fast
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The average price for regular grade gasoline sold at retail outlets across the United States is poised to climb to a 15-month high early this week when government pricing data is released, with the Jan. 4 average reported at a $2.665 gallon two-month high. A 3-cent…
Controlling Operating Costs
From escalating utility costs and credit card fees to labor and looming PCI deadlines, retailers have their hands full with a host of issues that are impacting their businesses. No issue is as complex and timely as PCI compliance. The stakes in the PCI game are high and, as 2010 approaches, c-store operators need to…
Riding the Hess Express
The first Hess gas station was opened in 1960, and the first Hess Express opened in 1997 in Daytona Beach, Fla. Hess Express was named Chain of the Year nine years ago amidst its aggressive southern retail expansion. “When we were recognized with the Chain of the Year award in 2000, we had about 900…
A Certified Success
View From the Top: Certified Oil’s Leadership Team If experience is an accurate indicator of a company’s success, Certified Oil has a bright future. Three members of the company’s senior leadership team have been with the company for more than 30 years, and several others have major oil, grocery and management consulting backgrounds. The leadership…
Fabulous Freddy’s Fuels with Flair
Fabulous Freddy’s is wooing new customers with old tricks. Resurrecting the customer service of decades past, the seven-store chain headquartered in Las Vegas, offers its patrons full-service treatment at the pump, at self-service prices. “Our company’s mission statement is to provide fabulous service to everyone, and one of the ways we do that is to…
Focused on the Franchise
BP At a Glance BP is one of the largest integrated oil companies in the world, with an estimated global market share of around 3% of oil & gas production and 4% of refining capacity in the major global markets in which it operates. Its U.S. retailing brands are BP, ARCO and ampm. Global sales:…