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Unpopular fuel scheme scrapped in Malaysia<br />
The Malaysian Government has officially<br />
scrapped its plan to introduce the two-tiered<br />
restructuring of fuel subsidy following negative<br />
feedback from the public. The plan, originally<br />
set to be implemented on May 1 st , was to introduce<br />
a two-tiered pricing system for petrol<br />
based on engine capacity while foreigners<br />
would have to pay the market price. It called<br />
for the mandatory use of MyKad to differentiate<br />
Malaysians from foreigners, requiring the<br />
need for MyKad readers at petrol stations. a<br />
government statement said “the price of fuel<br />
would remain the same for now as there was no<br />
Ensign Services announces reverse merger in vietnam<br />
Ensign Services Inc confirmed that it completed<br />
a reverse merger with Tin Nghia Petrol Joint<br />
Stock Company in august 2009. The management<br />
believes the reverse merger transaction<br />
is one of the first successful reverse mergers<br />
of a Vietnamese company on the U.S. stock<br />
exchanges. The company intends to complete<br />
a name change to Timex assets and Services.<br />
Timex has 28 petrol stations along major routes<br />
in Vietnam’s Dong Nai province and is one<br />
of the key suppliers of gasoline to factories in<br />
russia’s LUKOIL exits Iran under US pressure<br />
Russia’s largest privately-owned crude oil<br />
producer has announced it is pulling out of<br />
Iran’s anaran oil project due to sanctions<br />
imposed by the United States.<br />
lUKOIl Vice President leonid Fedun said<br />
that it was impossible for the company to<br />
continue to participate in the anaran field as<br />
long as US sanctions are in force. The anaran<br />
block in western Iran is estimated to have<br />
reserves of 2 billion barrels and was operated<br />
by a consortium of Norway’s StatoilHydro<br />
In India, Mumbai gets its new stage Iv fuel<br />
With the new Bharat Stage IV emission norms<br />
in effect since 1 st april, the main Indian oil<br />
companies have prepared to meet the requirements<br />
of the city of Mumbai. The Mumbai<br />
metropolis requires more than 80 million litres<br />
of fuel every month and three oil companies<br />
will supply both petrol and diesel through their<br />
existing 243 outlets. Bharat Petroleum has 97<br />
service stations, Hindustan Petroleum has 97<br />
service stations and Indian Oil Corporation<br />
has 49 service stations in the city of Mumbai.<br />
“Mumbai requires at least 80 million litres per<br />
month and the three companies will supply the<br />
BS IV fuel through their 243 outlets”, BPCl’s<br />
General Manager (Retail), West Region, PC<br />
Srivastava, said. The city requires 49 million<br />
directive to announce any hike. The statement<br />
went on to say that they do not know when<br />
that will happen but the public must remember<br />
that fuel price fluctuates.” Foreigners can still<br />
purchase fuel according to petrol pump price.<br />
But the policy governing the sale of petrol to<br />
foreign-registered vehicles at border areas<br />
remains, and according to a ministry official,<br />
the ministry would be proposing to the Cabinet<br />
another “policy for foreigners”. Currently,<br />
foreign-registered vehicles are only allowed to<br />
pump a maximum of 20 litres at petrol stations<br />
within 50 kilometre radius from the border.<br />
the region’s industrial parks. additional gas<br />
stations are planned within the next four years.<br />
The company intends to expand its business<br />
through the acquisition and construction<br />
of additional gas stations on major national<br />
routes and industrial parks. Such growth plans<br />
would utilize what management believes is the<br />
company’s current competitive advantage of<br />
having an established network of gas stations<br />
and strong brand recognition to capture additional<br />
customer loyalty and spending dollars.<br />
(75 percent) and lUKOIl Overseas (25 percent).<br />
although seemingly pulling out now for the<br />
time being, the head of lUKOIl’s overseas<br />
production arm insisted during a March 24<br />
presentation in london that the company was<br />
not abandoning Iran altogether “We aren’t<br />
saying goodbye”, said andrei Kuzyaev as he<br />
presented the company’s US GaaP statement<br />
for 2009. “It’s just the principal position of our<br />
auditors and doesn’t mean that we lose the<br />
rights to that project.”<br />
litres of regular fuel and 40 million litres of<br />
diesel per month. BPCl has already started<br />
supplying 15 million litres of BS IV fuel through<br />
its service station network of 97 outlets, Srivastava<br />
said. “The petroleum sector has constantly<br />
endeavoured to provide clean and green fuels<br />
to Mumbaikars”, he said. India adopted stricter<br />
emission norms under which 13 major cities have<br />
been upgraded to BS IV from BS III as per the<br />
recommendations of the Mashelkar Committee<br />
to control pollution from april.<br />
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NEwS – MIddLE EAST, AFrICA & ASIA<br />
Temporary filling<br />
stations setting up on<br />
Algerian East-west<br />
motorway<br />
The algerian Public Works Minister amar<br />
Ghoul, announced the setting-up of several<br />
temporary filling stations along the completed<br />
sections of the East-West motorway<br />
in algeria.16 temporary filling stations in<br />
total will be set up soon in collaboration<br />
with the national company Naftal, pending<br />
the launch of calls for tenders for rest<br />
and service areas for the users of the<br />
1 216-kilometres long motorway.<br />
Fuel shortages continue<br />
in Uganda<br />
Fuel shortages continued in Uganda this<br />
month, after the government admitted that<br />
its reserves have run out. State Minister<br />
for Energy Simon D’ujanga said their Jinja<br />
reserves have no fuel because they are being<br />
refurbished. “We are now relying on the<br />
reserves from the fuel companies”, he said<br />
while giving the government’s view on the<br />
shortage at a public meeting. The refurbishing<br />
of the reserves has been ongoing since<br />
the late 2007 political crisis in Kenya broke<br />
out, even though Mr D’ujanga said they will<br />
be ready by July / august. Throughout the<br />
Easter holiday, most service stations in and<br />
around Kampala had no petrol and those<br />
which had it sold it between UGX 2 900-<br />
UGX 3 200. Kobil Uganda’s Marketing<br />
Manager Peter Ochieng in an interview with<br />
Daily Monitor said the Easter holiday made<br />
the situation worse because they could not<br />
load the fuel. Earlier in the month, Kobil<br />
delivered close to 50 000 litres of petrol in<br />
one week and expected another close to<br />
700 000 litres to arrive into Uganda next<br />
month from Dar and Mombasa port, according<br />
to Mr Ochieng. Engen Uganda’s<br />
Managing Director Fredrick Gibson said<br />
they have less than 1 000 litres of fuel<br />
in Kampala. Commenting on the delays<br />
in the construction of the oil pipeline by<br />
Tamoil, the minister said they are still<br />
discussing with the government of Kenya,<br />
to have a reverse effect of the pipeline so<br />
that it can do both the importation and<br />
exportation of oil, when the country starts<br />
exploration of its oil. as a medium term<br />
solution to avert to situation, Mr D’ujunga<br />
said; “The government is looking into the<br />
alternative sea route through Tanzania as<br />
the country awaits its long term solution<br />
of oil exploration being developed in South<br />
Western Uganda.”<br />
LATEST NEwS, EvENTS, jObS ONLINE – www.PETrOLPLAzA.COM 13<br />
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