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Oil Market
2008
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December

12/23/2008 | Oil Market |

Isab Energy: production train in operation again

Last Thursday, one of the two production trains affected by the Oct. 13 accident at the Isab Energy electric power plant in Priolo was back in operation, according to an Erg statement that specified that it was functioning at 50% of its total capacity. The 260 MW capacity now available will make pos ...


12/18/2008 | Oil Market |

Cremona refinery, Torchio: 900mn investment plan approved

Giuseppe Torchio
Giuseppe Torchio
The Oil Invest group has confirmed its intention to invest in the Cremona refinery with a 900mn-euro plan that will be implemented once authorization from the Environment Ministry is received (see SN n. 32, 2008, p. 2). Moreover, the Tamoil refinery of Cremona is not for sale nor are there plans to ...


12/18/2008 | Oil Market |

Auchan, price of diesel below 1 euro


Since Saturday, Auchan has been selling diesel at a price of less than one euro per liter at its shopping centers. Auchan director general Patrick Espasa said this was “not yet another Christmas gift for families in crisis who in any case will have to deal with a situation that does not end at Chris ...


12/18/2008 | Oil Market |

Upstream, no Eia for Saras in Sardinia


The Environment Ministry has published rulings for exclusion from the Eia procedure (with prescriptions) for the hydrocarbon prospecting and research activities of Saras in permit d4E.P. - SA Nora between Capo Spartivento and Cagliari and of Puma in permit d90E.R.- PU in Capo Mannu (Oristano), in Sa ...


12/11/2008 | Oil Market |

UP, refining down to 79.5mn t


Refinery processing in Italy has declined again, thanks to the economic slowdown (see SN n. 43 2008), while processing for foreign companies continues to increase. In the first ten months of 2008, processing dropped to 79.5mn t, down 6.7% from the same period of 2007. The latest edition of “Notizie statistiche petrolifere” of the UP also says that processing for foreign compa ...


12/11/2008 | Oil Market |

Cremona refinery, Torchio: we will ask Tamoil for explanations Dec. 15


“In our Dec. 15 meeting we will ask the top executives of Tamoil if they intend to execute the planned measures or if the crisis of the economy has in some way slowed or frozen these investments”. This is the position of the president of the province, Giuseppe Torchio, concerning the possibility tha ...


12/11/2008 | Oil Market |

Nigeria, Eni declares state of force majeure on Brass River


Eni too has declared a state of force majeure concerning its Brass River crude exports, after a Nigerian pipeline was sabotaged. Platts got the news from the head of the marketing division of the Nigerian national oil company, Aminu Baba-Kusa. Business sources had shortly before hypothesized that En ...


12/11/2008 | Oil Market |

Livorno refinery, Risaliti works to keep project going

Enrico Risaliti
Enrico Risaliti
Word that the Livorno refinery might close and be transformed into a storage facility (see SN n. 43 2008) did not find Enrico Risaliti unprepared. For many months, as chairman of Assopetroli and of the energy commission of Confcommercio, and above all as the provincial chair of Confcommercio and deputy chair of the local chamber of commerce, he has been seeking to ward off thi ...


12/11/2008 | Oil Market |

Tamoil, reactions in Cremona
“No comment” from the company


Labor unions and local authorities are agitated about the report in Staffetta that the refinery of Cremona might be closed by Tamoil and turned into a storage facility, while the company's press office, contacted by Staffetta, responded “no comment”. The local newspaper La Cronaca has written that t ...


12/04/2008 | Oil Market |

Refineries risk shutdown

Rumors are flying concerning the transformation of some refineries into storage facilities, as has happened already in Volpiano, Bertonico, Trieste, Ravenna, Bari, Naples, Gaeta, Arcola and Genoa. Now the places mentioned are Cremona, Livorno and Pantano di Grano, and the motive is the general drop ...


12/04/2008 | Oil Market |

Upstream Italy, August-September production weak

Italy's oil and gas production dropped both on a monthly and an annual basis, with the sole exception of gas in September that gained a bit over 2007. The latest report on the Italian upstream from the hydrocarbon office (Unmig) of the Economic Development Ministry show that, on an annual basis, oil ...


12/04/2008 | Oil Market |

Eni, acquisition of fields offshore UK complete

Eni has completed acquisition of the 51.69% stake in the British North Sea fields and relative infrastructures, including the onshore terminal for gas treatment at Bacton, included in the Hewett Unit (see SN n. 24 2008). An Eni statement says that the operation brings its stake in Hewett Unit up to 89.31% and that it will now be the operator. The remaining 10.69% belongs to Pe ...


12/04/2008 | Oil Market |

Fuel network, EU closes infraction procedure

The European Commission has closed the procedure opened at the end of 2005 against Italy concerning alleged obstacles to entering the retail fuel distribution market. Brussels' statement specifies that art. 83bis of the summer budget amendment (133/2008) eliminates all the restrictions indicated by ...


November

11/27/2008 | Oil Market |

Erg: Isab refinery operating normally, dock impounded

The dock of the Erg Isab refinery in Priolo has been impounded by judicial authorities in Siracusa, Sicily, after a section broke off last Friday while oil tankers were being filled. Fortunately there were no serious consequences.
Erg explained that the accident took place on a “walkway that ha ...


11/27/2008 | Oil Market |

Cremona refinery, ultimatum from the province

If the people in charge of the Raffineria di Cremona (Tamoil) do not receive the authorities to explain how the company intends to spend the 900mn euros promised for soil recovery operations, the president of the province, Giuseppe Torchio, does not exclude “dramatic action”, including protests in f ...



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