Berkshire's Pilot Co refocuses on U.S. service stations, ends international oil trading - report

 Pilot Co, a unit of Warren Buffett's Berkshire Hathaway (NYSE:BRKa), is discontinuing its international oil trading business, Reuters reported, citing three sources. The decision is aimed at refocusing the company's efforts on its Pilot Flying J service stations and truck stops in the U.S., the report said.

The company has reportedly dismissed nearly all employees involved in international trading. The resources previously dedicated to trading will now be used to expand its North American businesses, the sources added.

Pilot Co, headquartered in Knoxville, Tennessee, is recognized for its service stations and truck stops. It ventured into international trading following Berkshire Hathaway's acquisition of a 39% stake in 2017. Over the years, the company, now entirely owned by Berkshire Hathaway, had recruited experienced energy traders to enhance its trading operations.

https://www.investing.com/news/stock-market-news/berkshires-pilot-co-refocuses-on-us-service-stations-ends-international-oil-trading--report-93CH-3823416