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NEws – MIDDLE East, aFRICa & asIa<br />
10<br />
Nigeria to ban non<br />
licensed stations<br />
The Department of Petroleum Resources<br />
(DPR) will from october, ban fuel stations<br />
without operating licences from taking<br />
delivery of petroleum products. So far<br />
this year 229 applications for renewal of<br />
operating licences have been received with<br />
201 being granted. The DPR have also<br />
said that the taking over of a fuel station,<br />
rebranding and operating without approval<br />
were all illegal and will be treated as such.<br />
Libya’s oil, gas sector<br />
generating cash<br />
A libyan oil company representative has<br />
said it expected to realize nearly $55 billion<br />
from oil and gas this year. The state-run<br />
National oil Corp. said it expected to<br />
make around $ 54.9 billion in revenue this<br />
year from exports and taxes on oil companies<br />
operating in the country. The u.S.<br />
Energy Department’s Energy information<br />
Administration, in its monthly review for<br />
July, reported that production by December<br />
2011 rebounded to 800 million barrel per<br />
day. The report said that by April 2012,<br />
libya oil production was at 1.4 million<br />
barrel per day.<br />
ugandan oil prospects<br />
are getting brighter<br />
Recently in uganda one billion barrels<br />
of oil were announced as having been<br />
discovered, pushing the figures of commercially<br />
viable deposits to at least 3.5<br />
billion barrels. uganda’s oil fields are<br />
showing a comparatively higher level<br />
of productivity when measured against<br />
the experience in other countries where<br />
the chances of oil discovery in an equal<br />
number of wells usually hovers at only<br />
10 percent. Exploration is still on-going<br />
with more discoveries expected. Before<br />
the discovery of the additional one billion<br />
barrels, the country’s exploration<br />
efforts in the Albertine Graben showed<br />
estimated oil and gas reserves of 2.5 billion<br />
barrels. But, production has been<br />
delayed by contractual disagreements,<br />
tax disputes and infrastructural setbacks,<br />
according to the Energy Ministry. Now,<br />
the oil companies invested in the sector,<br />
particularly Tullow oil, want commercial<br />
exploitation to start immediately, saying<br />
it is unfair for them to hold their capital<br />
idle. At the same conference, Tullow oil<br />
President in uganda, Elly Karuhganga,<br />
said with neighbouring countries discovering<br />
oil in the region, investor attention<br />
could turn to them.<br />
Omanoil on target for 2012 expansion<br />
omanoil has said that the company is on target<br />
with its expansion plan for 2012 having opened<br />
up nine new convenience stores and five new<br />
fuel service stations in the year to date. So<br />
far the company has opened stations in four<br />
governorates with all being accompanied by<br />
ahlain convenience stores.The newly opened<br />
stations bring the company’s total in operation<br />
in the sultanate to 137 service stations, 82<br />
Petronas eyes 1 000th outlet<br />
Elevated oil prices and subsequently higher<br />
product costs are not putting the brakes on<br />
Petronas Dagangan Bhd’s expansion plans.<br />
The company is set to open its milestone<br />
1 000th fuel station as it accelerates efforts<br />
to become Malaysia’s No.1 petroleum retailer<br />
in two to four years. Petronas Dagangan was<br />
eyeing total sales of five billion litres of petrol<br />
this year (increase 10 percent year-on-year),<br />
driven by the increase in its number of fuel<br />
Fuel giant commits to refinery<br />
Caltex Australia says it is committed to its re -<br />
maining refinery despite growing competition<br />
from Asia and the Middle East. The energy<br />
group said it expected the profitability of its<br />
last refinery, in Brisbane’s lytton, to come<br />
under pressure from the increased capacity<br />
in overseas markets. But the group said it<br />
made strategic sense to keep its remaining<br />
refining plant. Reporting a 74 percent<br />
Costco to compete in australia<br />
uS retailer Costco is seeking to break into<br />
Australia’s $ 15 billion-plus discount petrol<br />
business, currently dominated by Woolworths<br />
and Coles, by selling its own heavily reduced<br />
fuel at prices below those offered via popular<br />
Essar to retail fuel in kenya<br />
Essar has set up a pilot fuel retail outlet<br />
in the African country, where the likes of<br />
KenolKobil are already present. “Essar has<br />
set up a pilot retail outlet in Kenya under the<br />
franchisee model”, an Essar Energy spokesperson<br />
has stated. Fuel for the outlets would<br />
be sourced from Essar’s refinery in Kenya.<br />
The retail outlets would be set up under the<br />
Essar brand; the company wouldn’t partner<br />
Algeria building $ 3 billion refinery<br />
Construction on a new $ 3 billion refinery in<br />
Algeria is under way and is being undertaken in<br />
tandem with the development of the country’s<br />
petrochemical ventures. The new facility will<br />
be capable of producing liquefied petroleum<br />
LatEst NEws, EvENts, jOBs ONLINE – www.PEtROLPLaza.COM<br />
solitary convenience stores and 14 car washes.<br />
“investing in strategic locations across oman<br />
reinforces the nation’s long-term development<br />
ambitions, while closing the retail network gap<br />
allows omanoil to better serve its customers<br />
in the country”, continued Al ishaqi. With<br />
the opening of its new stations, omanoil has<br />
become the fastest expanding fuel service<br />
station operator in the country.<br />
stations. This aggressive retail expansion<br />
is in line with management’s guidance and<br />
projections. The opening of the landmark<br />
1 000th station is definitely within reach<br />
given that Petronas added 12 new stations<br />
in the first half of 2012, bringing its total to<br />
980. The company plans to add a record 74<br />
new stations to its retail network by year-end,<br />
more than doubling its annual average of 30<br />
new stations.<br />
increase in first-half net profit, Caltex Chief<br />
Julian Segal said the refining business faced<br />
significant challenges as regional capacity<br />
outstripped growth in demand. Australia’s<br />
biggest oil refiner reported net profit on a<br />
replacement-cost-of-sales basis – a measure<br />
that strips out the value of its stockpiles –<br />
climbed from $ 113 million to $ 197 million<br />
in the six months to June.<br />
supermarket shopper-docket schemes. Costco<br />
has requested room to build fuel stations<br />
in Brisbane and Sydney and awaits council<br />
approval. Costco plans eventually to open as<br />
many as 20 outlets in Australia.<br />
any local company for this. “Currently, we are<br />
studying the market and, depending on the<br />
outcome, may undertake modest expansion”,<br />
the spokesperson added. As part of its global<br />
expansion plans, Essar Energy had acquired 50<br />
percent stake in Kenya Petroleum Refineries<br />
(KPRl) in 2009 from Royal Dutch Shell, BP<br />
and Chevron with the Kenyan government<br />
owning the remaining 50 percent.<br />
gas, benzene and kerosene, and will produce<br />
5 million tones of petroleum products annually.<br />
600 permanent new jobs will be created<br />
at the site, which is located in the Baskara<br />
region of the capital Algiers.
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