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McLean Events
essar increases domestic network
Essar Oil MD and CEO LK Gupta have said
that the company was planning to build a
5 – 7.5 million tons-a-year oil refinery in
Uganda. “There is a big oil find in Uganda
and we believe that there is a possibility of
building a refinery there”, Gupta said and
added “Essar Oil was already in talks with
the Ugandan government in this regard”.
Gupta also said that Essar Oil had decided
Golez files for pump calibration
Bacolod Rep. Anthony Golez Jr. confirms that
he has filed a bill for the creation of a “Fuel
Pumps Calibration Act” House Bill 5 483
requires the calibration of fuel pumps in all
filling stations twice a month and imposes
penalties for violations. “The problem of
high fuel prices is compounded by the devious
acts of filling stations that do not have
properly calibrated fuel pumps. Retail fuel
bangladesh talks to secure fuel supplies
Bangladesh Petroleum Corporation is discussing
long term contracts to import oil
products to meet growing domestic demand
in 2012. A team headed by BPC Chairman
Mohammad Abu Bakar Siddique has held
talks with Kuwait Petroleum Corporation
(KPC), Emirates National Oil Company
(ENOC), Malaysia’s Petronas, Egypt’s Middle
East Oil Refinery and Philippines National
Oil Company (PNOC) to discuss quantities
LAteSt NeWS, eveNtS, JobS oNLINe – WWW.PetRoLPLAzA.CoM
to step up its retail petrol sales in India by
increasing its network of filling stations
by about 25 percent. “We are opening 300
more filling stations across the country in
addition to our existing network of 1 300
outlets”, said Gupta. Essar is expanding its
retail petrol sales to take advantage of the
market-linked pricing for the fuel, which
was introduced last June.
consumers do not get their money’s worth
when the fuel pumps serving them are not
properly calibrated.” He has said. His bill
provides penalties that will make sure that
filing station operators and owners will no
longer resort to defrauding the consuming
public. The proposed law also has a provision
penalizing government officials who connive
with owners or operators of filing stations.
and price details. Bangladesh’s fuel oil imports
are likely to more than double next year to
around 1.65 million tonnes, while overseas
purchases of diesel may rise about 25 percent
to 3.74 million tonnes on growing domestic
demand, according to a senior BPC official.
Besides diesel and fuel oil, Bangladesh will
import 385 000 tonnes of jet fuel, 100 000
tonnes of 95-octane gasoline and 90 000
tonnes of kerosene in 2012.
Choice Petroleum goes independent
One of the biggest pieces of Australian
industr y news recently was the announcement
independent fuel company
Choice Petroleum had been acquired by
Ausfuel, also an independent company.
Choice Petroleum was established by
Gladstone businessman Evan Ryan and
started operations in 2000 and operates
21 company-owned service stations.
Choice also operates a fleet of fuel tankers
supplying bulk fuel directly to farming
Nigeria to merge PeF with larger organisations
To resolve the conflicts and duplication
of duties in the oil and gas industry, the
Federal Government Parastatals and
Agencies Restructuring and Rationalisation
Committee, has recommended in its
preliminary report that the Petroleum
Equalisation Fund (PEF), Weights and
Measures, in the Ministry of Trade and
Investment be merged with bigger organisations
with similar functions. It also
called for the streamlining of the duties of
customers. Ausfuel Group CEO Brooke
David said the company was delighted to
acquire Choice Petroleum, as it ensured
it remained in independent hands. “Like
the Ausfuel Group, Choice has a proud
history of providing competition and a
viable alternative to the multi-national
fuel companies”, Mr. Brooke said. Choice
coming on board expands the Ausfuel
network into strategic parts of Queensland
in a significant way.
the Department of Petroleum Resources
(DPR). The committee has submitted its
preliminary report to the Secretary to
Federal Government.In the report the
committee recommended that PEF, which
oversees refunds for bridged petroleum
products in the country, be merged with
the Petroleum Products Pricing Regulatory
Agency (PPPRA), while the Weights and
Measures be fused with the Standards
Organisation of Nigeria (SON).