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Leak detection systems for petrol stations - ErpecNews

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INA aims to sell <strong>petrol</strong> to EU markets in 2009<br />

Croatia’s oil and gas company INA, aims to be able to produce <strong>petrol</strong> <strong>for</strong> the European<br />

Union markets in 2009, CEo Tomislav dragicevic told delegates at INA’s<br />

recent shareholders meeting.<br />

He also said the state’s partial control of<br />

local <strong>petrol</strong> and gas prices was severely<br />

hampering INA’s business and eating into<br />

its profits. “Our goal is to complete the first<br />

phase of modernization of our two refineries<br />

and be able to produce and sell the top<br />

quality <strong>petrol</strong> on western markets in 2009,<br />

primarily in Slovenia and Austria,” Dragicevic<br />

said. INA has invested some 1 billion euro<br />

(US $1.55 billion) in modernizing its two<br />

dated refineries located in the northern<br />

Adriatic port of Rijeka and in the central<br />

town of Sisak. The plan is to fully overhaul<br />

them by 2011.<br />

INA, in which Hungary’s MOL has a 25<br />

percent stake, had lost 1.7 billion kuna<br />

(US $362 million) in 2007 due to semi-controlled<br />

local prices of <strong>petrol</strong> and gas. “We<br />

lost around 1 billion kuna on gas imports<br />

and some 700 million kuna on oil imports.<br />

It is not possible to run a business that way<br />

in the longer run,” Dragicevic said. In an<br />

ef<strong>for</strong>t to counter inflationary pressures, the<br />

government capped the prices of gas and<br />

electricity <strong>for</strong> companies and households<br />

until July 1st and until this year intervened<br />

to slow the increase of <strong>petrol</strong> product prices.<br />

Despite earlier pledges to liberalize energy<br />

prices, Prime Minister Ivo Sanader said<br />

that the government would continue to seek<br />

ways to keep energy prices under control<br />

and urged INA and other suppliers to review<br />

their price policy.<br />

Analysts said INA’s 2007 net profit of some<br />

870 million kuna did not reflect its higher<br />

sales, primarily because of administrative<br />

maneuvering over energy prices. INA is a<br />

dominant <strong>petrol</strong> retailer in Croatia with<br />

market share of some 50 percent. The state<br />

owns 44 percent and Hungary’s MOL 25<br />

percent. The government listed 17 percent of<br />

INA in Zagreb and London and distributed<br />

14 percent to war veterans and INA’s employees.<br />

Dragicevic said he was confident that<br />

Lukoil, Russia’s second largest oil producer<br />

which entered the Croatian market last<br />

month, would not severely threaten INA’s<br />

business. “Lukoil is a strong competitor, but<br />

we have no reason to be afraid as we have<br />

a huge advantage in locations (of our retail<br />

business),” Dragicevic said. Lukoil bought<br />

a small local retailer which owns nine<br />

In Finland, Kesko signs agreement with Teboil<br />

Kesko Foods and Teboil have signed a co-operation agreement, along with which<br />

the K-Group customers will receive ‘Plussa points’ <strong>for</strong> their purchases from 300<br />

Teboil <strong>stations</strong> starting from next autumn<br />

The first K-markets at Teboil <strong>stations</strong> will<br />

be opened during 2008 and the K-market<br />

chain will expand to 70 Teboil <strong>stations</strong>. The<br />

Neste co-operation and this agreement, now<br />

signed with Teboil, will make the store net-<br />

work of K-markets the most comprehensive<br />

in Finland, according to Kesko. There are<br />

currently as many as 3.5 million K-Plussa<br />

cardholders in nearly 1.9 million households<br />

in Finland.<br />

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<strong>petrol</strong> <strong>stations</strong> and a storage facility. It said<br />

it planned to build around 100 new <strong>petrol</strong><br />

<strong>stations</strong> across Croatia in coming years. INA<br />

has upstream and downstream segments<br />

and is involved in gas and oil exploration<br />

and drilling in Africa and the Middle East.<br />

Dragicevic said INA wanted to acquire up<br />

to five new concessions <strong>for</strong> gas and oil in<br />

the coming period.<br />

IPMAN Nigeria<br />

Independant Petroleum Marketeers Association<br />

(IPMAN) says that it is not appreciated.<br />

A spokesman said “We want the Federal Government<br />

to recognise us. We build the filling<br />

<strong>stations</strong> in all parts of the country. We take<br />

the products there also, right to the people.<br />

Our spread and coverage are truly national,<br />

unlike the major <strong>petrol</strong>eum marketers.<br />

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NEWS<br />

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