A digest of April’s international news in the retail fuel sector www.erpecnewslive.com Issue No 73 | April 2017 EUROPEAN EDITION BP will expand retail network but no plans for new refineries BP has no plan to build new refineries and will instead focus on modernising existing plants while expanding its network of filling stations to generate $3bn in additional cash. The group’s head of refining told Reuters this month that even though BP’s output was set to spike as new fields become operational, its attitude to refining remains more cautious. Tufan Erginbilgic, Chief Executive, Downstream said BP was happy with its refining portfolio although it could sell some assets in downstream. Refining of crude oil into fuels such as gasoline, diesel and jet fuel has for years been the industry’s problem child, having to grapple with weak and volatile profit margins as well as competition from modern refineries in China, India and the Middle East. The problems are compounded by the prospect of more energy-efficient cars, aircraft and heating, tighter marine fuel standards and slowing consumption growth. A push to modernise and streamline BP’s refining, trading and marketing generated $5.6bn in free cashflow last year, up 25% from 2014. BP is also betting on expanding its network of petrol stations with high-end c-stores at a time other majors have been shrinking their vast but often basic networks. In the UK, BP operates its stores with Marks & Spencer and teamed up with REWE in Germany. Erginbilgic said the marketing business can deliver an extra $2bn in cashflow by 2021, twice as much as refining and petrochemicals. TESLA BECOMES MOST VALUABLE CARmaker in the us ERPEC & IDAC 2017 five weeks to go While Tesla’s sales are still a fraction of its rivals, it is seen as leading the field in electric vehicles and autonomous driving, the industry’s two biggest growth areas. GM sold 10m cars last year, more than 100 times the 80,000 that Tesla did. But orders for the Model 3, Tesla’s forthcoming affordable car, has boosted optimism that sales will balloon in the coming years. By the time this issue reaches your desks we will be into the final stages of preparation for erpec and idac 17. The wonderful city of Amsterdam awaits, as does an exciting day and evening programme. The finalised idac conference schedule is now available to view online at www.idac17.com/programme. Retail planning takes centre stage this year with a keynote from Ruth Leach, Retail Engineering GM at Shell International, alongside discussions on big data and technology, alternative fueling solutions and marketing and reimaging. Following feedback from erpec 15 we have also added a workshop on building and maintenance, which will allow delegates to discuss and debate the latest trends in that area with our panel of experts. Our evening entertainment includes a dinner with jazz at the New York Film Academy Café and for those attending erpec we will take you on a tour of Amsterdam’s famous canals. There are a limited number of places available for idac 17, visit www.idac17.com/register to book. The spark of passion ignites the fuel for innovation Tesla has overtaken General Motors to become America’s most valuable carmaker, riding a wave of optimism despite the company’s continuing losses. The company, led by the billionaire entrepreneur Elon Musk, passed a $50bn market valuation for the first time this month. It is a milestone moment for a company founded 14 years ago and which has repeatedly come close to folding. www.beverinnovations.com | T +31(0)111 45 32 32 100% FOCUS ON PETROL Bever_AD_Erpec 182x64,25 mm_V12.indd 2 9-2-2017 8:00:31 erpecnews is published by McLean Events, Conferences and Media Ltd.
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