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消息称巴菲特旗下Pilot退出国际石油交易业务

Reports indicate that Pilot, under Buffett's control, has exited the international oil Trade Business.

Global Market News Report ·  Jan 22 07:09

Three sources said on Tuesday that Berkshire Hathaway's Pilot Co. will close its international oil trading Business, ending plans to enter this trillion-dollar Global market and refocusing on its USA Pilot Flying J gas stations and truck stops.

According to two informed sources, as a subsidiary of Buffett's Berkshire Hathaway, Pilot has eliminated nearly all employees responsible for international Trade. They stated that the company will allocate resources to develop its North American Business instead of Trade.

Pilot did not comment on whether the company is exiting its international Trade Business. Pilot Energy President Gary Hoogevenen stated in a statement: "Our core capabilities are focused on providing reliable fuel supply for our travel centers and North American customers."

Hoogevenen mentioned that the company may explore international markets to meet its supply needs.

As early as 2023, Pilot began to cut back on its Energy trading Business. After Buffett increased his stake in the company to 80%, the company laid off 15 employees, including Vice President Steven Holbach.

In January of last year, Buffett took over the remaining 20% stake in Pilot after a legal dispute with billionaire Jimmy Haslam over the Company's Valuation. According to regulatory filings, the company's pre-tax profit was halved from over $2.3 billion in 2022 to $1.06 billion in 2023.

Since then, Pilot's preference for the risks associated with international oil trading has gradually diminished. Two sources said that in recent months, the company has laid off most international oil and fuel traders.

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