Petrol stations for sale in Germany & Austria

OUT OF HOURS BULLY'S TRUCKSTOP BAR (INTERACTIVE)
1

Blimey!!! is this a further nail in the ICE coffin? Are we reaching the tipping point.
Get a load o this. “Phillips 66 announces that it has initiated the process for the sale of its retail distribution in Germany and Austria, which includes the Jet brand petrol stations. According to data from the Energy Information Service (EID), this affects 815 petrol stations in Germany and 154 in Austria. According to the Handelsblatt, industry experts are reckoning with a target sale value of 2.8 billion euros.”

“The sale of petrol station networks has recently become more frequent. Shell is also planning to sell off around 1,000 locations, including petrol stations, this year and next year in order to focus more on the business with charging stations for electric vehicles. Gas station operator TotalEnergies had already sold its entire petrol station network in Germany and the Netherlands to the Canadian company Couche-Tard. This involved 1,198 petrol stations in Germany and 392 locations in the Netherlands. One of the reasons given for the Total sale was the planned phase-out of combustion engines in the EU from 2035.”
https://www.electrive.com/2024/05/02…a-up-for-sale/

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2

Notice not the planned change to EV charging.
It’s got nothing to do with phasing out ICE it’s got everything to do with 15 minute cities and controlled and rationed travel only by public transport.
Bearing in mind ICE isn’t dependent on being fossil fuelled.

3

More likely offloading them while they still have some value left in them.

4

Several more years profits to be had, surely, if run correctly.

Fuel retail is a very competitive business, and there are many reasons to buy or sell such businesses none of which are “green” related. Asda last year for example.

I do see that phasing out of IC engines is a factor, but isn’t the only factor.

5

BP is selling all of its 310 petrol stations in the Netherlands.

“Besides TotalEnergies selling its petrol station network in Germany & the Netherlands, Jet petrol stations in Germany & Austria are also up for sale & Shell wants to give up 1000 locations including petrol stations this year and next, to focus more on the business with charging stations for electric vehicles”.

It makes you wonder how rapid the decline in petrol stations will be by the end of the decade.