Page 13

europe58

NEWS – ASIA, MIDDLE EAST, SOUTH AMERICA, AFRICA 13 ‘New generation’ Shell fuel card A delegation of the Kuwait Aviation Fuelling Petronas Dagangan Bhd wil l introduce RON97 fuel that complies with Euro-4M standard in September across Malaysia. Mohd Ibrahimuddin Mohd Yunus, MD and CEO told local media that the company’s fuel brands RON97, RON95 and diesel currently comply with the lower Euro-2M standard. Chairman Datuk Wan Zulkiflee Wan Ariffin said that Petronas Dagangan will set aside RM500 million in capital expenditure this year for its overall growth plan, including the development of new and refurbished fuel service stations. Wan Zulkiflee said around RM300 million out of the RM500 million will be used for the retail business with the remainder to enhance logistics and fuel terminals. Petronas Dagangan currently has 1,057 fuel service stations in its network and it is planned to add another 20 sites in 2015, as well as refurbish existing fuel service stations. Company ‘KAFCO’ recently met with EMARAT at its headquarters in Dubai to discuss possible opportun it ies of cooperat ion. Abdu l ra h ma n Qassi m A l A l i , commercial sales director at Emarat, welcomed the visiting delegation, stressing on Emarat's dedication to enhance cooperation with the different companies that seek establishing trade and expertise exchange. Hascol acquires motorway site contracts in Pakistan H ascol Petroleum L imited h as e ntered i nto an agreement with Motorway Operations and Rehabilitation Engineering (Private) Limited, a subsidiary of FWO, to take twenty motorway service area sites located on the Lahore- Islamabad motorway. The term of the agreement is for a period of twenty years. All these retail outlets will be company operated under the brand name of HASCOL. The motorway service area retail outlets will be upgraded to International Standards and will be equipped with state of the art equipment and facilities. With these outlets, the HASCOL brand Profiel will be raised considerably in Central Punjab and will have a positive impact on the sales volume and profitability of the Company. Petronas to implement Euro-M4 standard fuel in Malaysia End of subsidies in Angola sees price rise Since the Angolan government removed fuel subsidies at the end of April, customers are already reporting fuel price rises of as much as 28%. According to residents of the capital Luanda, the fuel retail price was only 90 kwanza ($0.82 USD) per litre before the subsidies ended, but has already reached 115 kwanza. The rise is expected to further affect the nation's rate of inflation which has already seen sharp increases. Last year's oil price decline pushed the currency of Africa's second largest oil exporter to record lows. Headline inflation in Angola reached 8.2% in April after hitting 7.9% in March. Australia’s ACCC petrol report shows record low prices The Australian Competition and Consumer Commission released their second quarterly report on the Australian petroleum industry, examining prices to March 2015. According to the report retail petrol prices in Sydney, Melbourne, Brisbane, Adelaide and Perth fell to their lowest price in real terms in over fifteen years. Seven-day rolling average prices fell from a high of around 158 cents per litre (cpl) in July 2014 to a low of around 103 cpl in early February 2015. Fuel shortages in India keep sites shut Bharat Petroleum Corporation Ltd. (BPCL) fuel service stations in Kashmir closed for 2 days this month in a row over fuel being supplied fuel from their refineries. The shortage affected all of BPCL's 43 retail outlets in Kashmir and some of them ran out of fuel. The shortage is reportedly due to maintenance issues at BPCL refineries. Regulators in Kenya close stations for selling illegal fuel Kenya's Energy Regulatory Commission has closed nine petrol stations around the country, primarily in Nairobi, for selling adulterated fuel. The Commission also warned against hoarding fuel. The closures came amidst ongoing fuel shortages. In its statement the ERC claimed that only one oil marketing company was affected by the shortages but stopped short of naming the company. In the first quarter of 2015 the commission carried out tests at more than 1000 petrol stations and found ten sites to be non-compliant and selling adulterated fuel. The commission said adequate stocks of Super Petrol were available in Mombasa and that every effort was being made to pump the product to Nairobi. They also insisted that shortages were unrelated to petroleum price adjustments expected to be announced later this month. The commission also warned oil marketers against hoarding petroleum products in anticipation of future price rises stating that such activity is illegal and companies hoarding fuel risked losing their operating license.


europe58
To see the actual publication please follow the link above