Leak detection systems for petrol stations - ErpecNews
Leak detection systems for petrol stations - ErpecNews
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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