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  • ousaouparis ousaouparis Apr 11, 2012 9:25 PM Flag

    so where are all the hess stations?

    The good old days when majors had gas station is on the way out. Retail outlet makes more money with the merchandizes inside than with gasoline. Majors are not retailer of hot dig etc.
    Majors are will be supplier of crude to refiners and / or retailers. The reason is that OPEC dictate the price of oil and control the profit of the majors.
    The oil business is splitting into oil producer or OPEC and the NG producers. MRO, COP have spent off their refining operations. But the NG production is slowly gaining on oil.
    If you look at XOM, they out right own 10% of the filling stations, the rest are third party own. XOM has set up their business model with a NG division; the XTO division. This division is separate from their upstream division the EMDC division.
    I look for more of the same with the other majors.

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