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Oil & Gas Refining and Marketing

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Cenovus' 2018 Budget Continues Focus On Deleveraging

6:00am EST

Dec 14 (Reuters) - Cenovus Energy Inc ::CENOVUS' 2018 BUDGET CONTINUES FOCUS ON DELEVERAGING.CENOVUS ENERGY INC - PLANS TO INVEST BETWEEN $1.5 BILLION AND $1.7 BILLION IN 2018.CENOVUS ENERGY INC - IS ALSO PLANNING ADDITIONAL WORKFORCE REDUCTIONS OF APPROXIMATELY 15%.CENOVUS ENERGY INC - IN 2018, COMPANY EXPECTS TO REDUCE ITS PER-BARREL OIL SANDS OPERATING COSTS BY 8% COMPARED WITH ITS 2017 FORECAST.CENOVUS ENERGY INC - IN 2018, COMPANY EXPECTS TO REDUCE ITS PER-BARREL OIL SANDS SUSTAINING CAPITAL COSTS BY 12% COMPARED WITH ITS 2017 FORECAST.CENOVUS - CONTINUES TO ADVANCE PLAN TO REDUCE NUMBER OF BUILDINGS OCCUPIED BY CALGARY STAFF.CENOVUS - REMAINS FOCUSED ON REDUCING REAL ESTATE COSTS THROUGH SUBLEASING PROGRAM & NOT RENEWING EXISTING LEASES AS THEY EXPIRE.CENOVUS ENERGY INC - CONTINUES TO TARGET A LONG-TERM DEBT RATIO OF LESS THAN TWO TIMES NET DEBT TO ADJUSTED EBITDA.CENOVUS ENERGY INC - 2018 CAPITAL BUDGET INCLUDES SUSTAINING CAPITAL OF APPROXIMATELY $780 MILLION, OR $5.50 PER BARREL OF INSTALLED CAPACITY.CENOVUS ENERGY SAYS IS FORECASTING AVERAGE OIL SANDS PRODUCTION OF 373,000 BBLS/D IN 2018, A 26% INCREASE COMPARED WITH ITS FORECAST 2017 PRODUCTION.CENOVUS SEES 2018 TOTAL PRODUCTION 483 - 510 MBOE/D.CENOVUS ENERGY INC SEES 2017 TOTAL PRODUCTION 459 - 492 MBOE/D.CENOVUS - EXPECTS TO HAVE COMPLETED SALE OF LEGACY CONVENTIONAL OIL AND NATURAL GAS ASSETS PRIOR TO 2017-END.CENOVUS ENERGY INC - IVOR RUSTE, COMPANY'S CHIEF FINANCIAL OFFICER, WILL RETIRE ON APRIL 30, 2018.

Gulf Oil Lubricants India Commences Commercial Production For Manufacturing Of Lubricants Oil In Chennai

5:39am EST

Dec 14 (Reuters) - Gulf Oil Lubricants India Ltd ::COMMERCIAL PRODUCTION FOR MANUFACTURING OF LUBRICANTS OIL COMMENCES IN PLANT AT CHENNAI.

BP says Consulting With Lawyers After Australian Watchdog Blocks Woolworths Deal

Wednesday, 13 Dec 2017 06:25pm EST

Dec 14 (Reuters) - BP Plc ::ACKNOWLEDGES ANNOUNCEMENT BY AUSTRALIAN COMPETITION AND CONSUMER COMMISSION THAT IT INTENDS TO OPPOSE PROPOSED ACQUISITION OF WOOLWORTHS’ RETAIL FUEL BUSINESS."REMAIN CONFIDENT,WITH APPROPRIATE DIVESTMENTS AS OFFERED BY BP,WOOLWORTHS' RETAIL FUEL BUSINESS DEAL WOULD NOT SUBSTANTIALLY LESSEN COMPETITION‍​".CURRENTLY CONSULTING WITH LAWYERS TO DETERMINE NEXT STEPS AFTER ACCC INTENDS TO OPPOSE PROPOSED ACQUISITION OF WOOLWORTHS' RETAIL FUEL BUSINESS.

Caltex Australia Says Will Continue To Provide Fuel Supply To Woolworths

Wednesday, 13 Dec 2017 06:08pm EST

Dec 14 (Reuters) - Caltex Australia Ltd ::CALTEX AUSTRALIA LIMITED NOTES ACCC DECISION,WOW-CTX.AX.‍WILL CONTINUE TO PROVIDE FUEL SUPPLY TO WOOLWORTHS AND ITS CUSTOMERS.

Australian Competition and Consumer Commission To Oppose BP's Acquisition Of Woolworths Service

Wednesday, 13 Dec 2017 05:12pm EST

Dec 14 (Reuters) - Australian Competition and Consumer Commission::ACCC TO OPPOSE BP'S ACQUISITION-WOW'S SERVICE STATIONS.TO OPPOSE BP'S ACQUISITION OF WOOLWORTHS SERVICE."‍BP ACQUIRING WOOLWORTHS' SERVICE STATIONS WILL BE LIKELY TO SUBSTANTIALLY LESSEN COMPETITION IN RETAIL SUPPLY OF FUEL"​."‍BELIEVE THAT FUEL PRICES WILL LIKELY INCREASE AT WOOLWORTHS SITES IF BP ACQUIRES THEM AND OTHER RETAILERS WOULD THEN FACE LESS COMPETITIVE PRESSURE"​."DETERMINED THAT UNDERLYING CONCERNS ARISING FROM PROPOSED ACQUISITION WOULD NOT BE ADDRESSED BY DIVESTMENTS PROPOSED BY BP"​.

SA's Competition Commission Recommends Approval of Sasol Mining's Acquisition of Mining Rights Held By Anglo American Inyosi Coal

Wednesday, 13 Dec 2017 08:10am EST

Dec 13 (Reuters) - SA'S COMPETITION COMMISSION - :SA'S COMPETITION COMMISSION - RECOMMENDED TRANSACTION BE APPROVED, WHEREBY SASOL MINING INTENDS TO ACQUIRE MINING RIGHTS OVER CERTAIN PROPERTIES HELD BY ANGLO AMERICAN INYOSI COAL.

India's JVL Agro Industries Sept-Qtr Profit Falls

Wednesday, 13 Dec 2017 07:40am EST

Dec 13 (Reuters) - JVL Agro Industries Ltd ::SEPT QUARTER NET PROFIT 35.9 MILLION RUPEES VERSUS PROFIT 106.3 MILLION RUPEES YEAR AGO.SEPT QUARTER REVENUE FROM OPERATIONS 7.34 BILLION RUPEES VERSUS 9.76 BILLION RUPEES YEAR AGO.

Eni completes sale of 25 pct stake in Mozambique gas project to Exxon

Wednesday, 13 Dec 2017 06:11am EST

Dec 13 (Reuters) - Italian oil major Eni says::COMPLETES SALE OF 25 PERCENT STAKE IN MOZAMBIQUE AREA 4 TO EXXON MOBIL FOR $2.8 BILLION.ORIGINAL DEAL SIGNED IN MARCH nL3N1GM3RT.

Unipetrol‍​ shareholder Paulinino says too early to comment on PKN's offer

Wednesday, 13 Dec 2017 02:00am EST

Dec 13 (Reuters) - Unipetrol ::UNIPETROL‍​ LARGEST MINORITY SHAREHOLDER PAULININO LIMITED SAYS TOO EARLY TO COMMENT ON PKN'S OFFER TO BUY UNIPETROL'S SHARES.PAULININO, WHICH CONTROLS 20.02 PERCENT OF UNIPETROL SHARES, SAYS IT WILL ANALYSE PKN'S OFFER THOROUGHLY.

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