NEwS – MIddLE EaST, aFRIca & aSIa 10 Sasol output and supply on track Sasol Ltd.’s production and supply of all fuel variants from its South African refineries are on track, spokeswoman Jacqui O’Sullivan said in an e-mailed statement from Johannesburg. Chevron Corp.’s South African unit, which operates Caltex fuel stations throughout the country, said the nation’s “inland refineries”, which aren’t operated by Chevron, are experiencing production problems. Libya builds economy beyond oil Libya’s new regime wants to move quickly to reshape a Libyan economy almost completely dependent on oil and gas. “We have had our political revolution. Now we need an economic revolution”, interim Economy Minister Tahar Sharkass has said. Petrol in Libya remains king, counting for more than 98 percent of export receipts. With oil companies, both national and international, hard at work to reopen the taps, oil production reached 700 000 barrels a day by the end of 2011, still only a fraction of the 1.6 million barrels per day that pumped out of Libya before the uprising. Government wants discount gas stations South Korea has been waging an uphill battle to bring down the prices of retail petroleum products. Its efforts have culminated with the Ministry of Knowledge Economy announcing a plan to convert 10 percent of Korea’s gas stations, 1 300 outlets, into discount gas stations by 2015. The scheme is aimed at infusing competition in the domestic market, which the ministry thinks is being dominated by a cartel of four refiners, SK Energy, GS-Caltex, S-Oil and Hyundai Oilbank. These discount gas stations, ministry officials hope, would be able to pull down gas prices at the pump by up to 100 won per litre. To offer such a large price cut, the new stations will feature self-serve pumps and provide no promotional gifts. 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).
LaTEST NEwS, EvENTS, JoBS oNLINE – www.PETRoLPLaza.coM NEwS – MIddLE EaST, aFRIca & aSIa 11