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sri Lanka fuel price regulation<br />
The pricing and quality of fuel is set to come<br />
under Government scrutiny as petroleum<br />
products are brought under Sri lanka’s<br />
Public utilities Commission (PuC) from<br />
2013, according to officials. Petroleum Ministry<br />
Secretary R H S Samaratunga said that<br />
laws giving the agency oversight of the fuel<br />
market have been drafted and referred to the<br />
Government’s Attorney General for approval.<br />
PuC Chairman Jayatissa de Costa said that<br />
uganda raises Oil reserves<br />
uganda raised estimated oil reserves by 40<br />
percent to 3.5 billion barrels after two new<br />
discoveries, according to Ernest Rubondo,<br />
the commissioner for petroleum exploration<br />
and production. The increase from 2.5 billion<br />
barrels follows appraisal work at the two<br />
Gull opens 50th retail site<br />
Gull Petroleum, New Zealand, has opened<br />
its 50th petrol station establishing the family-<br />
owned fuel retailer as a key player in the petroleum<br />
market. in addition to Gull’s competitive<br />
fuel prices, Gull’s biofuel range has become a<br />
key point of difference for the business. Gull<br />
Diesel Max, Gull Regular Plus and Gull Force<br />
10, New Zealand’s first biofuel (a 10 percent<br />
ethanol mixed with premium gasoline giving<br />
higher octane and cleaner performance),<br />
has enabled Gull to lead the competition in<br />
alternative fuels and help motorists reduce<br />
Aramco JV refinery on schedule<br />
Saudi Aramco’s Chief Executive and President<br />
has said that its latest refinery, a joint venture<br />
with French major ToTAl, is progressing<br />
ac cording to schedule. “The project is progressing<br />
as planned and the start up will be<br />
in 2013”, said Fawwaz Nawwab. The 400 000<br />
barrel per day facility is currently in the pre-<br />
the agency could begin regulating within the<br />
first quarter of the new year if the necessary<br />
legislation passes parliament in time. Director<br />
General Damitha Kumarasinghe, meanwhile,<br />
assured stakeholders that the PuC will allow<br />
for reasonable costs to suppliers but will not<br />
allow ‘inefficiencies’ to be passed on to the<br />
customer. if it remains Government policy<br />
to keep prices low, he conceded, it may be<br />
necessary to provide subsidies to fuel suppliers.<br />
deposits as well as revisions from 10 existing<br />
fields. uganda is set to become Africa’s newest<br />
oil producer when london-based Tullow oil<br />
Plc (TlW) and its partners, China National<br />
offshore oil Corp. and France’s ToTAl SA,<br />
begin pumping crude from 2016.<br />
their carbon footprints. The new Gull petrol<br />
station also features a concept café which will<br />
serve barista-made coffee and gourmet snacks<br />
ensuring people get their fix while on the go.<br />
commissioning stage, according to local reports,<br />
and may be fully operational before the third<br />
quarter of 2013. However, Nawwab did not<br />
confirm the projected start-up date. it is being<br />
built by Saudi Aramco as part of plans to boost<br />
its refining capacity, and will be focused on<br />
exporting fuel, according to the company.<br />
ENOC and aldrees sign joint venture<br />
Emirates National oil Company (ENoC),<br />
has signed a joint venture agreement with<br />
Aldrees Petroleum & Transport Services<br />
Company (Aldrees), one of Saudi Arabia’s<br />
largest fuel retailers, to set up service stations<br />
in different locations across the Kingdom.<br />
As per the 50:50 joint venture, the service<br />
stations will feature all the specialised and<br />
popular brands operated by ENoC including<br />
ZooM, Pronto, Super lube and Super<br />
Wash. The first station under the partnership<br />
is expected to open early next year, followed<br />
by a progressive roll-out. Eng. Abdulelah Saad<br />
Aldrees of Aldrees said: "With a network<br />
of more than 450 service stations in the<br />
Kingdom, Aldrees is an industry leader in<br />
petroleum retailing in Saudi Arabia. in line<br />
with our commitment to add value to our<br />
stakeholders, we are continuously exploring<br />
expansion opportunities that bring clear differentials<br />
to the market.<br />
latest news, events, jobs online – www.PetrolPlaza.com<br />
NEws – MIDDLE East, aFRICa & asIa<br />
BP adopts ‘tap and<br />
go’ pay system<br />
in New Zealand many motorists will<br />
be able to “tap and go” to pay for fuel at<br />
BP petrol stations in a development the<br />
company hopes will cut queues at its<br />
counters. BP said it had upgraded the<br />
eftpos systems in all its fuel stations to<br />
accept new credit and debit cards that<br />
incorporate Mastercard PayPass and Visa<br />
payWave technology. These cards can be<br />
tapped against payment terminals rather<br />
than having to be inserted or swiped. if<br />
customers have those cards, they won’t be<br />
required to enter a pin or sign for purchases<br />
under $ 80. Retailing manager Frank van<br />
Hattum said there were more than a million<br />
Mastercard PayPass cards in circulation in<br />
New Zealand. Normal eftpos transactions<br />
would also be speedier, he said, with the<br />
time needed to confirm payment cut from<br />
about ten seconds to just two. Z Energy<br />
has also said it is half-way through a $ 12<br />
million upgrade of its payment systems<br />
and planned to trial contactless payments<br />
this year with a commitment to accepting<br />
them next year.<br />
Petronet LNG plans<br />
to enlarge network<br />
Petronet lNG ltd’s (Pll) terminal worth<br />
4 200 rupees crore which can produce 5 million<br />
tonnes of liquefied natural gas (lNG)<br />
a year in the Puthuvype island off Kochi is<br />
expected to be commissioned by December.<br />
initiating the steps to enlarge the natural<br />
gas network in the state, Petronet lNG ter -<br />
minal officials have submitted a proposal<br />
to the KSRTC to convert buses to the<br />
compressed natural gas (CNG) format. Pll<br />
is also holding talks with companies such<br />
as Hindustan latex and Carborundum for<br />
the supply of lNG in 15-tonne tankers to<br />
these companies.<br />
aDDaX Energy fuel<br />
tender for tanzania<br />
Swiss firm, ADDAX Energy SA has won<br />
the fourth petroleum importation tender<br />
to supply petroleum products for domestic<br />
consumption for october, this year. The<br />
winner beat Augusta Energy SA (Geneva)<br />
which came second, Vitol SA (Geneva and<br />
london) which settled for the third position,<br />
Geneva-based Trafigura PTE limited<br />
was fourth and Sahara Energy Resources<br />
of Nigeria which came last. under the<br />
newly-introduced regulations, the tender<br />
size has been reduced covering an estimated<br />
consumption of 30 days instead of 60 as<br />
the previous three tenders.<br />
9
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