Chevron has been restructuring to re-enter the PCMO market in a more competitive fashion. They've recently combined 3 divisions under a single VP to be more vertically structured. Chevron is the only vertically oriented, in-house, oil producer in the US from drilling, refining, base oil sales, additive packages (They own Oronite) & blending. The base oil, additive & blending divisions used to be separate groups that are now "working together".![]()
Iran's parliament votes to close Strait of Hormuz after US attacks
The vote took place Sunday after the U.S. on Saturday evening hit three Iranian nuclear sites and significantly damaged the country's capabilities.www.newsweek.com
Market orders suck, but I just bought Chevron.
With BP's attempt to sell off Castrol and the possibility of the entire BP company being sold off, it places Chevron in a position to pickup a larger market share. Shell doesn't have much refining capability anymore (minimal worldwide refining capacity with zero in the US), Valvoline being sold to the Saudi's & Mobil not having additive abilities, Chevron is currently positioned well.