Spotlight 31
In acquiring the DONG Oil & Gas business for a headline price of $1.05 billion plus $250m contingent will position INEOS as a top 10 company and the biggest private enterprise operating in the North Sea.
“DONG Energy’s oil & gas business is a natural fit for INEOS as we continue to grow our upstream activities,” said Jim Ratcliffe, INEOS chairman.
“We are pleased to acquire this competitive, well-run business, with its highly successful and experienced team, a strong portfolio of long life assets and a very good mix of existing production and developments across the North Sea.
“This business is very important to us at this stage of our growth plans and we are delighted with the expertise that comes with it. We have been successful in our petro-chemical businesses, focusing on operating our assets safely, efficiently and reliably and we intend to do the same with our oil & gas assets. We are keen on further growth and already see lots of opportunity within this impressive portfolio when it transfers to INEOS.”
On completion, the Business will bring a full complement of highly experienced oil & gas personnel, with 440 staff transferring to INEOS. The business being acquired has a strong portfolio of long life assets, producing 100,000 barrels of oil equivalent per day in 2016 and with around 570 million boe of commercial and potential oil & gas reserves across the Danish, Norwegian and UK continental shelves.
This transaction will enable INEOS to significantly expand its trading and shipping activities making it a major trader in the sector.
INEOS has much to offer this business, bringing its proven track record in operating complex assets of this nature to further maximise the economic recovery of the hydrocarbons in the acquired portfolio. With a long term view and wide-spread industrial integration, INEOS is ideally placed to extend the lifespan of these assets and invest in the major oil & gas development opportunities that accompany this portfolio.
The DONG Oil & Gas business is a natural fit for INEOS, further strengthening its long-term upstream activity, which was founded on the acquisition of both DEA’s and Fairfield’s UK portfolios in 2015 and more recently the Forties Pipeline System from BP.
The acquisition and transfer of ownership is targeted to complete within Q3 2017, subject to the receipt of regulatory and other third party approvals.
The Business will be acquired by the INEOS Industries business division.
www.ineos.com/
Asset protection and oil and environmental services specialist, Adler & Allan, is celebrating after being shortlisted for the 2017 Responsible Business Awards
Last month Adler & Allan was shortlisted in the 2017 Responsible Business Awards, the UK’s longest running and most prestigious awards programme champions responsible business in the UK and abroad.
(l-r) Sally Darlington, health and safety advisor at Essar Stanlow with John Wilson of the Liverpool Seafarers Centre and Mark Thompson, Essar’s marine manager at Stanlow
Essar’s Stanlow refinery recently achieved 7 million hours without a lost time injury; a milestone recognised by Essar’s Let’s Give programme which links safety milestones and charitable giving.
The refinery has also achieved a record breaking safety target of three million hours without a recordable injury; a first in the site’s 60 year history.
Among the local charities benefitting from the programme were Wirral Heart Beat and the Seafarers Centre in Crosby, Liverpool with both receiving a £3,000 donation.
Marine manager Mark Thompson who nominated the Seafarers Centre, said: “I have worked at sea for most of my career, and now alongside those who do. I have seen the benefit of Seafarers Centres all over the world, and the great service that is offered to those who visit. Many of the seafarers from our cargo deliveries at Stanlow and Tranmere use the Liverpool services, and it is fantastic to be able to provide some financial support to keep the service going.”
Technician operator Paul Nelson selected Wirral Heart Beat. “I was put in contact with Wirral Heart Beat following a heart operation sixteen years ago. At a time when I was feeling vulnerable and worried, the support and facilities offered at the Heswall facility were a real practical support for my rehabilitation and improving health.”
The charities were very appreciative of the support received.
John Wilson, chief executive at the Liverpool Seafarers Centre, which is to buy a pool table, furnishings, computer and wi-fi, said:
“We’re a charity operating a frontline service to provide practical and emotional support for seafarers, the often invisible workforce on whom we all depend to ship 95% of UK trade.
Ian Carson, chairman of Wirral Heart Beat, which is investing in new equipment for its outreach gyms, commented:
“Our charity was first registered in 1991 by a group of local people who had experienced heart attacks or had heart related problems. We depend entirely on volunteers to run the centres, which are all based at fire stations across the Wirral.”www.essaroil.co.uk
Shell’s winning campaign ‘totally exceeded anything we’d imagined’ said Diana Altmann, global media manager for brand communications at Shell
Last month Shell’s global campaign the best day of my life, created by MediaCom, took the Corporate Influencer Award at the 2017 World Media Awards.
A panel of 30 senior judges from major brands, agencies and media owners, presided over by three head judges – Ian Armstrong, global advertising general manager, Jaguar Land Rover, Sanjay Nazerali, global chief strategy officer with Carat Global, and Raquel Bubar, director T Brand Studio International at The New York Times – had the challenge of selecting seven category winners and a Grand Prix winner from the many entries that were received from across the globe.
“We’ve been nominated two years in a row for the World Media Awards so to come home with a trophy this year is fantastic,” said Diana Altmann, global media manager for brand communications at Shell.
“The ambition was definitely big from the onset, but the campaign has absolutely exceeded anything we’d imagined, and we were able to achieve something unbelievable for us as a brand.”
Emma Winchurch-Beale, president of the World Media Group and international sales director at the Washington Post commented: “As advertisers strive to target consumers globally, a successful content-driven ad campaign can be a powerful way to tell a brand’s story across multiple channels and borders.
“Shell’s entry ‘Best Day of My Life’ is a great example of this. The innovative campaign caught the attention of the judges for merging established musicians with new start-ups; highlighting a worldwide support for clean energy.”www.wm-awards.com/
INEOS Shale, the onshore division of INEOS Upstream, has completed the acquisition of the entire UK onshore petroleum exploration and development licence interests of ENGIE E&P UK Limited, increasing the total acreage held by INEOS under licence to more than 1.2 million acres.
The transaction involves minority interests in 15 licences, seven of which INEOS holds an existing interest in. The remaining eight complement the company’s existing licence interests in Yorkshire, Cheshire and the East Midlands. Three of the licences are operated by INEOS, eight by IGas Energy and four by Cuadrilla.
http://www.ineos.com/
Table of Licences acquired
Puma Energy, the global integrated midstream and downstream energy company has released its audited full year results for the period ended 31 December 2016, with record sales volumes increasing by around 16%.
Commenting on these results, Pierre Eladari, CEO, said that he was pleased to announce “another significant year for Puma”, in which the company had realised an overall growth of 12%. “I was also pleased to see the business model responding to a sustained period of organic growth across the business segments and regions with the completion of the integration of UK activities acquired in 2015, growth in the Americas driven by the retail segment and good operating performance in retail and aviation across all regions.”
Adler & Allan has appointed Ian Osborne as new group managing director to continue the group’s drive in growth following an extremely successful period of increased demand, business acquisitions and sales.
(l-r) Simon Elliott, MAN UK managing director, Glyn Moores and Ian Broomhead from Pullman Fleet Services, and Mark Binns, managing director, HOYER Petrolog UK
Ellesmere Port-based Pullman Fleet Services (PFS) has won the annual HOYER/MAN dealer of the year award. The winners of the technician and outstanding performer of the year awards were also announced.
“The awards recognise those maintenance providers with an outstanding performance throughout the year, in addition to individuals who have made a significant contribution to the success of the HOYER Petrolog fleet,” said Allan Davison.
Pullman Fleet Services delivered a 100% record on safety and scored an impressive 96.4% on fleet availability with a 98.8% MOT pass rate.
The technician of the year award went to Gwynne Jones of Pullman Fleet Services.
“Gwynne has presented virtually every HOYER MOT this year and through completing thorough quality checks has maintained a solid first time pass rate on the HOYER contract for the past two years,” said Peter Ellison, head of fleet services SHEQ & Compliance, who was one of the judges.
“He has taken ownership of the first time pass rate for PFS and provides feedback from the test station sharing best practice to the rest of the workshop. Gwynne has developed and maintained a good professional relationship with VOSA at all times and achieved credibility with the testers.”
The outstanding performer of theyear award went to Nathan Adcock, workshop controller, Aquila Truck Centre with the special recognition award going to Jess Adlard who runs the operation at HRVS Scunthorpe.
Andrew Owen – ‘the participation of Brookfield Business Partners will allow Greenergy to participate in larger-scale strategic mergers and acquisition activities to propel our business to its next phase of development’.
Greenergy has reached agreement for Brookfield Business Partners (NYSE: BBU; TSX: BBU.UN) to invest in the business with the aim of accelerating growth. Existing Greenergy management shareholders will invest alongside Brookfield Business Partners and will retain a 15% share in the business.
As part of the process all existing non-management shareholders will exit the business. There will be no change to company strategy and the current management team will remain in place.
“It has been our long-standing aim to increase our access to capital through a strategic investor,” said Andrew Owens Greenergy’s chief executive.
“The participation of Brookfield Business Partners will allow us to participate in larger-scale strategic mergers and acquisition activities to propel our business to its next phase of development.”
Established in 2016, Brookfield Business Partners acquires and manages businesses with high barriers to entry, low production costs and the potential to benefit from Brookfield’s global expertise as an owner and operator of real assets. Its investment objective is to generate long-term returns without taking undue risk, and it seeks returns of at least 15% on its investments.
Cyrus Madon, chief executive officer of Brookfield Business Partners, commented:
“Our investment in Greenergy expands our footprint in the European market through a business that provides an essential service and a track record of providing customers with reliable and competitive supply. Greenergy is well positioned to continue growing its service offering for its long-term UK customer base, and we believe we can broaden the company’s operations outside of the UK by leveraging our global presence.”
The transaction is expected to conclude in Q2 2017. Its value has not been disclosed.www.greenergy.comwww.brookfieldbusinesspartners.com
Martyn Lyons who will ‘continue to actively participate in the TSA and to reap the many benefits of membership’
At the end of 2016 Martyn Lyonsstepped down from the chairmanship of the UK Tank Storage Association (TSA)
On 1st January 2017 Andrew Amos, projects director for UM group, took over as president with Paul Denmead, director of UK terminal operations at World Fuel Services, becoming vice-president.
Martyn Lyons, who will remain on the TSA Executive Council, said:
“The past 11 years have seen considerable growth in the membership of the TSA with more than 20 full member companies actively participating in our association which can be proud of its abilities as the ‘go-to’ organisation. TSA has long held a reputation to punch above its weight and this was cemented by the considerable efforts and successes of our previous executive director, Hugh Bray.
“After a very enjoyable 11 years as TSA chairman, it’s time for me to hand over the reins to a new president, Andrew Amos who along with executive director Peter Davidson and vice president Paul Denmead are set for a year of growth.”www.tankstorage.org.uk
Anton Martiniussen (r), the new APEA chairman with Killian Tallon, APEA’s outgoing chairman, now referred to as immediate past chairman
Anton Martiniussen of Elaflex has been appointed as APEA chairman at the Association for Petroleum and Explosives Administration’s AGM, exhibition, conference and gala awards dinner held recently in Milton Keynes.
A UK-based organisation, the APEA draws its membership from all quarters of the petroleum industry, including regulators from national and local government authorities, oil companies, equipment manufacturers and suppliers, service and installation organisations, training establishments and many others.
It is seen to be unique in representing all sides of the industry and in providing a forum for debate and the generation of technical guidance.
“We aim to facilitate the interchange of information, ideas and good practices with safety first and technical excellence,” explained Anton.
“If you would like to share something with us, please contact us. Reaching out we would very much like to hear more of what goes on in your market and how we can link up.”www.apea.org.uk
Puma Energy, the global integrated midstream and downstream energy company has recently released its Q3 2016 results. Commenting on these results, chief financial officer Denis Chazarain said: “I am pleased to report another period of growth for the business across all of our key parameters.
“Although we faced the headwinds of currency fluctuations and slowdown of some economies, we have increased our storage capacity to a record 7.9 million m3 following the latest acquisition of BP’s storage terminal in Northern Ireland.”
Key Financial Highlights
The addition of BP’s Belfast terminal last Thursday takes Puma Energy’s global network of bulk storage terminals to 100, culminating in a total storage volume of 7.9 million m3 of storage capacity. The acquisition builds on the purchase of the 1.4 million m3 capacity Milford Haven terminal in 2015, further supporting Puma Energy’s growth within the European market, and helping to ensure high quality, reliable fuels supply to Northern Ireland.
Greenergy played a starring role at the Oscars of the corporate reporting world when Stephen McCaffrey, chief financial officer and chairman Paul Lester CBE were presented with an award by ITV newsreader Mary Nightingale (l) and Lady Susan Rice CBE
Greenergy has won the Building Public Trust Award for Excellence in reporting in private business for its annual report. The award recognises Greenergy’s fresh approach to corporate reporting, which goes beyond regulatory requirements to ‘tell it how it is’ through a compelling narrative.
The merged group – Intervias – will be a leading independent petrol forecourt retailer in Europe
UK-based Euro Garages and the European Forecourt Retail Group (EFR), which operates in Benelux and France, will continue to operate under their own names with their current CEOs and senior leadership teams.
Robert in training for the Dolomites Swiss Alps 2016 Haute Route
Last month Olleco chief executive Robert Behan took on the ‘hardest cyclist event in the world’ when he and seven friends cycled from Geneva to Venice covering 900 kilometres and heights of 21,000 meters over seven days.
There’s still time to enter your new tanker for the title of Fuel Oil News 2016 tanker of the year.
Angus Blundell is expected to play a key part in Certas Energy’s growth over the next five years. He will be integral to delivering significant growth on both existing and new business by adding a stronger sales focus to the Certas Energy offering
Coinciding with the appointment of Angus Blundell as marketing director earlier this month, Certas Energy has unveiled a redesigned, transactional version of its website.
The team (l-r) – Richard Eggleston, Paul Waine, Sam Havler, Lucy Eggleston and Mark Eggleston
Paul Waine, managing director of Hull-based fuel and waste oil company RE:Group, has recently put in a marathon effort to raise cash for two charities close to his heart.
Marketed by Certas Energy in Britain, the Gulf brand once again supported this year’s Layer Marney Cup. Certas Energy supplies fuel to over 1,200 service stations
The Layer Marney Cup, an historic fuel consumption trial, was recreated last month with around 50 cars completing a 72-mile route through the Essex countryside.
Certas Energy, which will occupy 3000 sq ft of the ground floor, is the first company to sign up for space in Slough’s nine-storey landmark
Next Thursday (1st September) Certas Energy will move from its regional office at Egham in Surrey to The Switch, a newly refurbished suite of A-grade offices situated in Slough.
Helen Evans, brand and communications coordinator at Phillips 66, was presented with the award during a ceremony at the Hilton Birmingham Metropole hotel
In recognition of its occupational health & safety and fleet safety records Phillips 66 took two gold awards at the 2016 RoSPA Occupational Health and Safety Awards, the 60th anniversary of the awards.
Built in 1959 Whitegate is Ireland’s sole refinery, it processes up to 75,000 barrels of crude oil per day, producing transportation and heating fuels. It has a workforce of 160 employees as well as many contract personnel
Last week Canadian-owned Irving Oil announced an agreement had been reached with Phillips 66 to acquire its Whitegate refinery.
Just four days after announcing an agreement to purchase Bolton-based forecourt operator Synergie Holdings, Motor Fuel Group (MFG) is to also purchase Roadside Group Limited.