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Austria’s OMv to
shed assets
OMV AG, central Europe’s biggest oil company,
plans to sell 1 billion euro (US $1.4
billion) of refining and marketing assets by
2014 to increase its focus on exploration
and production. The sale will be a “combination”
of assets, including refining units
and filling stations, CEO Gerhard Roiss
said in an interview in Istanbul. OMV
may leave some countries, he said, without
identifying any locations. The company
plans to concentrate on businesses “where
we can supply out of our refineries”. OMV
won’t sell its Petrobrazi plant in Romania
or refining assets that are closely linked
to petrochemical operations, Roiss said.
That would leave OMV’s 45 percent stake
in Bayernoil Raffinerie GmbH. Roiss said
that while he could “follow that assumption,”
he wouldn’t comment on individual assets.
Icelandic pension
funds buy into N1
The Enterprise Investment Fund of Iceland
has purchased a 15.8 percent share in the
country’s biggest oil company N1, from Islandsbanki
and its deceased predecessor, Glitnir
Bank. N1 is Iceland’s biggest oil company
and has been in the news recently due to
its financial difficulties. The Fund intends
to create a new company with Islandsbanki
and several other N1 shareholders. The new
company would then hold a majority stake in
the oil firm and could guide its future course.
A statement from the Enterprise Investment
Fund did not mention how much the stake
in N1 will cost; the statement says that will
depend on N1’s operational profit / loss for
2011. N1 lost around ISK 12 billion (74.9
million euro) last year, according to the
company’s annual report.
SOcAR plan 1 000
stations by 2025
SOCAR Ukraine head Elchin Mammadov
recently told the International Oil Summit
in Kiev that the company plans to extend its
network of petrol stations in Ukraine to 50 by
the end of the year. “By 2025, the company
plans to increase the number of stations to one
thousand”, Mammadov stated. He confirmed
that SOCAR had already invested US $ 85
million in its petrol station network in Ukraine.
Greenman in 17 million euro German fund drive
Greenman Investments is aiming to raise
17 million euro over the next two years for the
acquisition and development of auto-related
properties in Germany. The move follows its
development of a 23.3 million euro portfolio
of premises accommodating internationally
recognised operators in the auto repair and
service industry. It also recently completed
an 8 million euro fundraising initiative. Its
Greenman Auto Fund owns seven sites and
100 ‘pop-up’ petrol stations selling illegal fuel
in Northern Ireland
Almost 100 “pop-up” petrol stations have
been uncovered in Northern Ireland in the
last year. In Belfast, temporary illegal stations
have been selling laundered red diesel
for as little as 90 p a litre. Accounts found
at one such station showed it was making
£ 22 000 a month. Figures from the UK
Revenue and Customs for 2010 / 11 show
Transport collapse prevented in Almaty region
The refineries of Kazakhstan have increased
fuel supplies to Almaty and Almaty region,
thus preventing the transport to collapse, a
press service reported. Over the last weeks, a
critical situation started to develop with the
fuel supply of Almaty city and Almaty region.
Particularly scarce was gasoline A-92 and
diesel fuel. To correct this situation, addional
fuel supplies were shipped in from refineries.
TOTAL introduces ‘TOTAL access’ station network
TOTAL is introducing ‘TOTAL access’, a new
service station concept combining low prices and
premium TOTAL-branded fuels and services,
in France. The TOTAL access network will
comprise approximately 600 service stations:
around 300 TOTAL-branded outlets, selected
Albania revokes licenses of 11 fuel companies
Albania’s Ministry of Economy has revoked
the licenses of 11 fuel trading companies for
failing to full-fill the criteria regarding storage
capacities. The Ministry of Economy took the
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last year generated a return of 6.3 percent
from surplus rent, leftover, after all operation
and finance costs. It does not rely on
capital appreciation and speculation, but
generates returns using surplus rent generated
from multi-national anchor tenants.
Tenants include Jet Conoco petrol stations,
Dekra vehicle inspection, Cosy Wasch car
wash, CarGlass and a leading German tyre
company.
widespread diesel laundering and illegal sales
across Northern Ireland. With 60 percent
of pump prices down to taxation there is a
plenty of room for the black market to profit
from drivers. There is also evidence that
organised criminals from Northern Ireland
are attempting to shift their business to the
rest of the UK.
The delivery from the Atyrau oil refinery has
been increased from 157 to 734 tons per day,
from the Pavlodar petrochemical plant – from
1 066 to 2 282 tons and from PetroKazakhstan
Oil Products – from 985 to 1 675 tons per day.
Fuel shortages at filling stations in Kazakhstan
have been observed since May. The shortage
affected the most popular brands of gasoline
A-80, A-92 and partially A-95 and diesel.
for their ability to handle the higher traffic
generated by lower prices while maintaining
their standard of service and all Elf-branded
service stations, which already deploy a lowcost
strategy, but thanks to TOTAL access
concept will now be able to offer products
and services, such as Excellium fuels and
GR cards, previously only available at TOTAL
service stations. The TOTAL access concept is
the culmination of a lengthy test conducted at
around 40 service stations in France. It reflects
the Group’s commitment to more effectively
serving consumers and expanding the range
of services offered to professionals.
decision for the revocation of licenses once
the companies did not meet the requirements
even after their licenses were suspended for
a 30-day period.