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2 CREDITS INDUSTRY NEWS Stronger margins for ExxonMobil ExxonMobil announced last month that its first quarter earnings were $4.9 billion, 46% lower than in the same period a year earlier. The company said its first quarter downstream earnings were $1.7 billion, up $854 million from the first quarter of 2014. Stronger margins increased earnings by $1 billion, it added. Volume and mix effects increased earnings by $70 million. All other items, primarily higher Improved downstream earnings from Shell Royal Dutch Shell’s first quarter 2015 earnings, on a current cost of supplies basis, were $4.8 billion compared with $4.5 billion for the first quarter 2014, the company said. First quarter 2015 earnings were $3.2 billion compared with $7.3 billion for the first quarter 2014, a decrease of 56%. “Compared with the first quarter 2014, earnings benefited from improved downstream Resetting and rebalancing for BP BP said in a statement published at the end of April that during the first quarter of 2015 it earned $2.6 billion compared with $3.2 billion for the same period in 2014. The company added that in this current environment it is keeping its plans to continue to divest. “We are resetting and rebalancing BP to meet the challenges of a possible period of sustained lower prices. Our results today reflect both this weaker environment and the actions we are taking in response,” said Bob Dudley, BP Kuwait Petroleum International is rapidly expanding its network of unmanned services stations in Europe, particularly in Italy. The distinctive silver-grey branded Q8easy sites in Italy now total 227. This is the first step in a plan that foresees 500 sites within a five year plan. The acceleration of the Q8easy network represents the main pillar of KPIs retail strategy, to preserve and improve its current competitive advantage in unmanned operations, in which it plays a role of market leader. The Q8easy network expansion in Italy is due to several key factors: The excellent volume performance of the unmanned sector: +16.5% compared to -5.1% for the industry as a whole. An increasing number of customers who are sensitive to price. A very userfriendly maintenance expense, decreased earnings by $260 million, the company said. Petroleum product sales of 5.8 million barrels per day were flat compared with the prior year’s first quarter, according to the report. Earnings from the U.S. downstream were $567 million, down $56 million from the first quarter of 2014. Non-U.S. downstream earnings of $1.1 billion were $910 million higher than last year. results reflecting steps taken by the company to improve financial performance, higher realized refining margins, lower costs, and increased trading contributions,” the company said. Cash flow from operating activities for the first quarter 2015 was $7.1 billion. Excluding working capital movements, cash flow from operating activities for the first quarter 2015 was $7.5 billion. group chief executive. “We are continuing to progress our planned divestment programme, we are resetting our level of capital spending, and we are addressing costs through focusing on simplification and efficiency throughout BP,” he added. BP said it remains on track to divest a further $10 billion of assets by the end of 2015. This total has now reached $7.1 billion, including the agreement to sell BP’s interest in the CATS business in the UK North Sea, announced recently. approach to the customer pre-payment system. The Q8easy network also boasts that it is a Q8 ZERO concept (Zero Emission Retail Outlet). Q8 Italy is certifying its Q8easy retail stations as being CO2 emission free, thus associating itself with customers as the ‘environmentally responsible’ brand. Competitively priced, convenient, safe and environmental friendly; these are the characteristics identifying the Q8easy network in the Italian market, as well as in other European countries where KPI operates the brand. In order to support the expansion of the Q8easy network a new website www.Q8easy.it was launched last year presenting the philosophy, consumer benefits, technological and environmental aspects of the stations. The website also enables consumers to obtain the exact location of Q8easy sites, as well as the current day’s prices. In the first ten days, the website achieved more than 51,000 hits. All the above demonstrates a highly successful strategy and business model, that puts KPI in a strong position in a highly competitive market. Publisher McLean Communications Suite 4 Maple Place Bedford MK41 9BB - UK Tel + 44 (0) 7786 607075 www.erpecnews.com Design and Production Ya-ya Create! Avery House Bodmin Hill Lostwithiel PL22 0AH - UK Tel + 44 (0) 207 989 2424 Editor in Chief Nick Needs McLean Communications Ltd. nick@mcleanevents.com Tel + 44 (0) 7786 607075 Art Director Ken Robertson ken@mcleanevents.com Tel + 44 (0) 7765 255551 Chief Designer Stuart Langley stuart@mcleanevents.com Tel + 44 (0) 7736 581590 Marketing and Advertising Enquiries Anita Howard Marketing Director anita@mcleanevents.com Tel + 44 (0) 7967 022761 Project Manager Carrianne Matta carrianne@mcleanevents.com Tel + 44 (0) 2079 89 2424 Advertising will be accepted in each issue on a limited basis. Advertising booking deadline for January / February issue is 4th January Contact Anita Howard on +44 7967 022761 anita@mcleanevents.com Printed by Creative Design and Print Centre www.copyprint.biz is published monthly by McLean Communications and distributed to retail petroleum operations in Europe, Asia, South America, Africa and the Middle East. McLean Communications Ltd. is the organiser of , the leading business forum for the industry, held every two years, for Europe’s retail petroleum market. Copyright The views expressed in print are those of the author and do not necessarily represent those of the publisher, McLean Communications Ltd. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by means electronic, mechanical, photocopying, recorded or otherwise without the prior permission of the copyright holder. McLean Events create!! 1 KPI accelerates unmanned retail sites in Europe


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