Warren Buffett's Pilot, which is owned by Buffett, will exit the international oil trading business and refocus on its North American operations.

According to reports, the "stock god" Warren Buffett's Berkshire Hathaway's Pilot Co will close its international oil trading business and refocus on its US gas station and truck stop business. Reportedly, Pilot has laid off almost all employees responsible for international trading and plans to instead invest resources in developing its North American business. Based in Tennessee, Pilot is known for its gas stations and truck stops. After Berkshire acquired 39% of the company in 2017, the company began international trading. Last January, Buffett took over the remaining 20% of Pilot's shares after a legal dispute with billionaire Jimmy Haslam over the company's valuation. The company's pre-tax profit halved from over $2.3 billion in 2022 to $1.06 billion in 2023. Reportedly, since then, Pilot's preference for international oil trading risks has gradually decreased, and in recent months the company has laid off most of its international oil and fuel traders. According to Berkshire's latest quarterly report, Pilot's total revenue for the first 9 months of 2024 exceeded $36 billion, with pre-tax profit of $486 million, both down year-on-year.