Shell is changing the way it rewards senior managers, less than a year after shareholders revolted against its executive-pay policies, the Wall Street Journal reported. In a letter to investors, Hans Wijers, chairman of Shell’s remuneration committee, said salaries paid to Chief Executive Peter Voser and Chief Financial Officer Simon Henry-who stepped into their current…
BP Collaborates With Universities on Materials and Corrosion Research
BP has announced the launch of a major research collaboration with the Massachusetts Institute of Technology (MIT) and the University of Manchester. BP and the universities will work together on materials and corrosion research, as it applies to oilfield applications. The initial investment from BP has been $2 million, with the company intending to match…
Bumpy Ride for Gasoline Prices
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The first week in February saw the most price volatility in the wholesale gasoline market since late September 2009 when crude oil started its march higher into October and pulled fuel prices up too, with wild price swings triggered during periods of market uncertainty. Interestingly though,…
Pullback in Wholesale Costs Leads to Fuel Price Decline
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Better than a nickel decline in wholesale prices for metropolitan markets across the U.S. during the weekly period ended on Martin Luther King Jr. Day will arrest the rapid increase in retail gasoline prices seen since late 2009. The U.S. average retail price for regular grade…
Atlas Oil Honors Marines
Atlas Oil Company’s charitable arm, Atlas Cares, is holding its third annual Marine Holiday Party on Saturday, Jan. 9, from noon to 4 p.m. The festivities will take place at Selfridge Air National Guard Base in Mt. Clemens, Mich., and attendees will include Sam Simon, CEO and owner of Atlas Oil Company, 400-500 Marines, their…
Speedway SuperAmerica Presents a Unified Front
SuperAmerica won CSD’s Chain of the Year award in 1991, and Speedway was recognized with that honor six years later. In 1998, the two convenience store chains merged to form Speedway SuperAmerica LLC, which is owned by Marathon Oil Corp. Today, Speedway SuperAmerica, which is based in Enon, Ohio, is made up of more than…
Growth, Innovation Propel Kum & Go
It’s been an eventful five decades for Kum & Go, which celebrated its 50th anniversary this year. Entrepreneurs W.A. Krause and T.S. Gentle founded Kum & Go in 1959 under the original name of the Hampton Oil Co., which later changed to Krause Gentle Corp. In the 1970s, the co-founders wanted a name that would…
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…
Changes Abound at ExxonMobil
Since winning CSD’s Chain of the Year award in 2003, Exxon Mobil Corp. has been busy, beefing up it’s foodservice program at On the Run stores, then forming a new strategy that moves away from direct-store operations and beating out Wal-Mart for the top spot on the Fortune 500 list. But it’s the changes at…
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…