Oil & Gas Refining and Marketing

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Total sells its midstream Utica assets to E1 Corp and a consortium led by Samchully

Monday, 22 Sep 2014 08:00pm EDT

Total SA:Says its affiliate, Total E&P USA, has signed agreement to sell its 25 pct interest in Cardinal Gas Services LLC, a midstream company in Ohio’s Utica shale play, to E1 Corp and a consortium led by Samchully, both from Korea.Deal valued at $400 million plus estimated price adjustment of $50 million.

New Zealand Refining Company Ltd announces notice of industrial action

Monday, 22 Sep 2014 05:08pm EDT

New Zealand Refining Company Ltd:Says that it was served with notice of proposed strike action by members of First Union Inc. and The New Zealand Engineering, Printing and Manufacturing Union which covers about 160 refinery operators, emergency servicemen, mechanical, instrument and maintenance personnel.Says that the company has been in collective employment bargaining with unions since May 2014.Notice proposes complete withdrawal of labour on Oct. 7 and Oct. 8, which would necessitate shutdown of processing units at Marsden Point Refinery.Says that it will continue to operate Refinery to Auckland Pipeline during this period.Says that health and safety considerations remain key focus of management.If the strike proceeds, estimated time for safe shutdown, two days of strike, followed by a restart of the plant, totals minimum of eleven days.This timeframe is dependent on successful restart of plant.Says that this would result in loss of processing fee revenue which is expected to be in the range of NZ$8-NZ$9 million.Says that it is making its Customers aware of notice and will be working with them to ensure the country's fuel supply chain isn't unduly impacted by proposed action.Says that it intends to continue to bargain in 'good faith' in order to reach settlement.

Rubis in talks to purchase Total holding in French Antilles Refinery

Monday, 22 Sep 2014 12:00pm EDT

Rubis SCA:Says it has remitted to Total an irrevocable offer to purchase its 50 pct holding in SARA.Says SARA is a refinery based in Martinique supplying the French Antilles and Guiana.Says it is already 35.5 pct shareholder in SARA.

Khabarovsknefteprodukt OAO appoints chairman

Monday, 22 Sep 2014 01:33am EDT

Khabarovsknefteprodukt OAO:Appoints O. N. Lokotoshs to the post of chairman of the board of directors.


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