Latest news with #fueltransport
Bloomberg
03-07-2025
- Business
- Bloomberg
Husband-and-Wife Team's Bold Foray Into Oil Refining Ends Badly
When the French oil major TotalEnergies SE was struggling to find a buyer for the Lindsey oil refinery in England back in 2020, an unlikely bidder rode to the rescue: a husband-and-wife team with no track record in refining. Their foray into the industry ended in catastrophic failure this week. The UK announced a liquidation order for the facility's owner, Prax Lindsey Oil Refinery Ltd., on Monday, leaving the country's Insolvency Service racing to save the site. The process blindsided everyone from the government to staff to the firms who ferry the plant's fuel across the country in trucks. Another to be surprised was commodities giant Glencore Plc, which supplied it with crude oil.
Bloomberg
11-06-2025
- Business
- Bloomberg
India's State Oil Refiners Plan Tanker Order for Domestic Use
India's state-run refiners are planning to order 10 domestically-built vessels to transport fuels around the country as the government pushes ahead with its ambition to expand the shipbuilding industry. Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to jointly issue a tender later this year for the medium-range tankers, according to people familiar with the matter who asked not to be identified because the information isn't yet public. The proposal could be valued at as much as $600 million, and will require delivery to start by 2028, they said.
Bloomberg
12-05-2025
- Business
- Bloomberg
South African Suppliers Truck Fuel as Pipeline Fees Spike
South African fuel suppliers are looking to utilize trucks to transport the commodity inland as the cost of using the nation's main pipeline operated by Transnet SOC Ltd. surges. The National Energy Regulator of South Africa granted state-owned Transnet an 8.7% tariff increase effective April 1 on the line that runs from the coastal city of Durban to the Gauteng province, where the commercial hub of Johannesburg is located. Prices will increase another 5.7% in the next financial year.
