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Dell's board evaluates rival bids: source 25/03/2013

By Jessica Toonkel and Paritosh Bansal (Reuters) - A special committee of Dell Inc's board is evaluating separate takeover proposals from Blackstone Group and billionaire investor Carl Icahn to decide whether either or both are likely to trump an existing $24.4 billion take-private deal, a source familiar with the discussions said on Sunday. Icahn and Blackstone put in preliminary bids late last week, potentially upsetting the plans of ...

Revamped Cyprus deal to close bank, force losses 25/03/2013

By Jan Strupczewski and Annika Breidthardt BRUSSELS (Reuters) - Cyprus clinched a last-ditch deal with international lenders on Monday for a 10 billion euro ($13 billion) bailout that will shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians. The agreement emerged after fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European ...

Borneo: Authorities Disrupt Smugging Effort 18/03/2013

Officials from the The Ministry of Domestic Trade, Co-Operatives and Consumerism (MDTCC) in Borneo have foiled another fuel-smuggling attempt, intercepting a lorry transporting roughly 10,000 litres of subsidised diesel in Bintulu. The 15-tonne lorry was found to be transporting the fuel, worth an estimated estimated RM18,000 in a specially-modified tank. According to MDTCC state director Wan Ahmad Uzir Wan Sulaiman, initial ...

Ukraine: Lukoil to Retain Local Network 18/03/2013

Lukoil has reiterated its intention to remain in the Ukrainian fuel retail market, denying reports that the company might seek a sale following its divestment of the Odesa Oil Refinery. "We're not currently thinking about selling the retail business in Ukraine, because it is effective. Retail in Ukraine is covered with supplies from oil refineries in Romania," Lukoil President Vagit Alekperov told news agency reporters. Lukoil has a ...

Australia: CstoreWorld Website Announcement in Melbourne 13/03/2013

PetrolWorld President David Egan is set to announce the creation of a new stand-alone convenience retail website, Details of the site will be revealed at the Convenience & Impulse Conference being held at the Melbourne Convention centre from March 13 to 14, where David Egan is a keynote speaker. The Convenience and Impulse Conference and exhibition is organised by Berg Bennett Pty Ltd and headed up by Keith Berg. The ...

Europe: SOCAR President Opens Combined Fuel Service Station in T 13/03/2013

Georgian Energy Minister Kakha Kaladze and State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev have opened the first SOCAR fuel service station in Tbilisi. Mr. Abdullayev also announced that approximately 20 combined fuel service stations will be built in Georgia this year. "We are actively building a filling station in Georgia," said Abdullayev. "It will open in the future. Moreover, we are making innovations." The ...

Taiwan: Union Wants Revision to Pricing Index 04/03/2013

The Taiwan Petrochemical Workers' Union (TPWU) has urged the Chinese Petroleum Corporation (CPC) to hold public forums in a bit to improve its floating oil price index, which is used to set the cost of domestic fuel prices at the pump. TPWU Chairman Chung Chieh-han welcomed comments from CPC board member Chiu Yi, who revealed plans to improve the transparency of the index, and suggested that public forums could offer suggestions to aid ...

Kenya: Puma-KenolKobil Deal Cancelled 04/03/2013

Kenolkobil has confirmed that negotiations on a takeover by Puma Energy have been terminated. In a statement sent to newsrooms, Kenya's largest fuel retailer advised its shareholders to exercise caution when trading with the company’s shares at the Nairobi Securities Exchange. The directors of KenolKobil limited... wish to advise the general public, the shareholders and other stakeholders that the negotiations with Puma Energy ...

Italy: Rosneft, ENI, Sign Trading and Logistics Agreenment 26/02/2013

Rosneft and Eni have agreed to strengthen their cooperation by signing a strategic agreement to develop trading and logistics opportunities. The agreement was signed in Rome by Igor Sechin, Rosneft President and Chairman of the Management Board, and Marco Alverà, CEO of Eni Trading & Shipping (ETS). The agreement seeks to develop synergies between the companies' respective logistic infrastructure networks, extracting additional ...

Indonesia: Pertamina Increases Income Targets 26/02/2013

PT Pertamina has targeted net income of $3.05bn and revenues of $65.2bn for 2013, an increase on last year’s figure, the company’s President Director has announced. Speaking in a hearing with Commission VII of the House of Representatives (DPR), Karen Agustiawan noted that the company expects to improve upon last year’s net income of $2.76bn despite continuing to suffer a loss on the sale of subsidised fuel. In ...

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