BP acquisition of Woolies fuel....

rockylizard · Guru

BP acquisition of Woolies fuel....

Tony Bev · Guru

Very interesting, John

A few weeks ago it was looking like a done thing

brickies · Guru

If there is big money in Fuel why would Woolworths want to get out of it .

hako · Guru

To be honest, the only reason why we shop almost exclusively at Woolworths is for the fuel deal and rewards card.

Good Luck.

Wizardofoz · Guru

brickies wrote:
If there is big money in Fuel why would Woolworths want to get out of it .

Probably because they are not going as well people think...Coles have now exceeded them in profits For the 1st time in years while competitors are gaining market share. The recent Masters debacle has severely injured their balance sheet.

Woolworths purchase history has not been notable over the past few years, they lost heavily with their purchase of the Dick Smith enterprise some years back and no doubt they were attempting to offload their service stations back to BP for less than they originally paid BP for them...Woolworths have a terrible record when it comes to there entry and acquisition of alternate busines outlets.

Increasing competition in the supermarket industry and heavy losses has probably forced them to concentrate on what was originally their strength and where they once were No 1.

-- Edited by Wizardofoz on Friday 15th of December 2017 08:37:33 AM

JayDee · Guru

brickies wrote:
If there is big money in Fuel why would Woolworths want to get out of it .

My view is that they done their arse with the Masters enterprise and they most probably have to get their balance sheet back in order.

I agree, why the hell would you want to sell a business that will most probably be around for eons.

Anyway, it was P.P.Management on Woolies board part. Cost the company $$$$$$$$$$$$$

Jay&Dee

rockylizard · Guru

Wizardofoz wrote:
SNIP~~~they were attempting to offload their service stations back to BP for less than they originally paid BP for them...~~~SNIP

Gday...

Woolworths set up their fuel arrangements with Caltex ... not BP.

https://en.wikipedia.org/wiki/Caltex_Woolworths

Cheers - John

Honey09 · Member

Puma bought out BP a few years ago. So why are they trying to get back into retail? Unless as said Woolies are having a fire sale to get back in the black and it's too good a deal to pass up

rockylizard · Guru

Honey09 wrote:
Puma bought out BP a few years ago. So why are they trying to get back into retail? Unless as said Woolies are having a fire sale to get back in the black and it's too good a deal to pass up

Gday...

Puma purchased BP Bitumen ... not BP petroleum.

http://www.pumaenergy.com.au/news-media/news/puma-energy-completes-bp-bitumen-acquisition/

Cheers - John

Knightrider · Senior Member

I read some of the comments here and had a little chuckle. I wonder how many have actually read & "understood" financials of any company and especially those of Woolworths. There is an old saying - best to keep your mouth shut & not sound like an idiot rather than open it & remove all doubt".