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Twenty years ago, it was easy to classify companies such as Ryder/P-I-E, Consolidated Freightways and Yellow Freight System as less-than-truckload carriers: simply put, that was the type of freight they [...]

The oil industry is lobbing in Congress to pass legislation that lowers royalty fees, gives it tax -credits for marginal operations, enables them to merge easily, and eliminates economic sanctions against oil-rich countries such as Iran and Azerbaijan. The oil industry in the 1990s has been suffering from low prices, the vast new oil fields, and increased competition.

Petroleo Brasileiro SA (Petrobras) Pres Joel Mendes Renno foresees an expansion of the company's oil and gas products sectors. The Brazil-owned company has undertaken aggressive modernization programs for its operations and facilities. It has entered into pipeline construction agreement with Bolivia and has invested in the exploration of the Campos Basin's Roncador field. It also welcomes management and operational changes accompanying the approval of a bill requiring the deregulation of the petroleum industry., Petrobras is a state-owned corporation founded in 1953. It operates in the exploration, production, refining, transportation, import and export of oil and oil products sectors. It also operates in the [...]

The expected deregulation of India's downstream petroleum sector is expected to have a fundamental impact on that nation's oil and gas industry. India's petroleum market is currently fully regulated, and Indian oil companies will have to adapt quickly to a competitive, market-based, international economic structure. India's refineries appear to be well-suited to compete, but its retail marketing network may need significant upgrading to become successful in a deregulated environment., India's downstream sector is currently almost completely isolated from international economics and global competition due to the control exercised by government in all areas of the industry. Statutory restrictions on [...]

The petroleum retailing industry in Australia has warned the federal government that unless it is deregulated, it may have to close down refineries, cut down the number of service stations, and consider its future in Australia. However, the John Howard government seems to be in no hurry to implement any promises it had made.

The deregulation of the Italian petroleum industry has resulted in major short-term benefits such as higher prices and restructuring. However, many Italian petroleum companies are concerned over the long-term effects of deregulation, particularly in light of the country's growing demand for gasoline and fuel for electricity generation. Moreover, Italy continues to import more refined products than it exports, making it increasingly vulnerable to international price fluctuations., The oil market is deregulated, and the refining business is looking slightly healthier. But the hand of the state is still the largest cause of uncertainty for the private sector, [...]

Last year, China was one of the few countries that still prohibited its banks from diversifying into other financial areas, such as mutual funds or insurance. That law changed in [...]

The chance of passing a bill that would open Indonesia's energy sector to competition this year may be gone, due to a parliamentary decision to impeach President Aburrahman Wahid. A [...]

The Indian government finally deregulated fuel prices on April 1, a move that is expected to benefit the domestic airline industry, since prices were kept at an artificially high level. [...]

* The government in Podgorica approved a privatisation plan under which 319 companies will be privatised. Four strategic firms, including the fuel retailer, Jugopetrol, will be privatised separately, according to [...]

* Ventus Nafta, the filling station chain operator, is to be privatised. The company has a share capital of $17.2m and is 90.3% state-owned. Ventus owes $5.5m to the local [...]

Roger Finn serves as vice president with worldwide responsibility for Pricing Products and Services, MPSI Systems Inc. He has been with the company since 1982. During the '90s, many petroleum [...]

The financial services sector has gained from the privatization of Russia's industrial assets. The sector is anticipated to profit from the sale of petroleum companies such as Tyumen Oil Co, KomiTek, Eastern Oil Co and Rosneft. However, concerns about privatization rules have plagued the country. Efforts have been made to encourage fair competition in the sale of Rosneft and various government companies. Interested bidders for Rosneft include Sibneft, Lukoil and Onako., A flourishing financial and industrial sector has emerged from Russia's two-year asset sale. Isabel Gorst assesses the effect this will have on the oil sector Over the past two years [...]

The Venezuelan government has allowed the entry of foreign investors into the country's oil industry in order to increase its production capabilities and to take advantage of the international market for oil. Petroleos de Venezuela (PDV) plans to release $44 billion for both joint ventures and local investments. PDV had successfully bidded out 10 exploration contracts by including a profit-sharing scheme for the investors., Venezuela's recent licensing round has brought foreign investors into the country's oil sector for the first time in 20 years. The shift in policy is part of a $60bn plan [...]

The South Korean government is planning to deregulate its petroleum industry which has been under control since the 1960s. Prices of petroleum products will be determined by market forces and foreign oil companies will be allowed to compete in the domestic market. However, domestic oil refiners will remain viable because gasoline demand by automobile users is increasing and fuel requirements for industrial transport is rising with the economy., Since it was founded in the 1960s, the South Korean oil industry has been heavily regulated. Imminent deregulation will bring in foreign companies and increase competition. David Hayes analyses the [...]

ANP taking first step December 31 On December 31, the newly-created Agencia Nacional do Petroleo (ANP) of Brazil will take the first step to open the country to foreign investment, [...]

Texaco has called for a competitive change in Brazil's newly deregulated oil exploration and production terms. The company plans to invest $2 billion over five years in the country, if [...]

Petroleum prices have been regulated in the Philippines since the 1970s, and protests against the government have followed price rises which have been perceived as due to government policy. The president, Fidel Ramos, has implemented a law of 1996 leaving prices to the market, but deregulation has been hampered by a drop in value for the Philippine peso since 95% of the country's petroleum is imported. Congressmen have filed suits claiming that deregulation is not constitutional, and the Supreme Courts has ordered a price freeze.

India has devised an oil industry reform package that includes deregulating crude imports and refining and establishing an oil regulation commission. The reform committee includes Petroleum and Natural Gas Sec. [...]

Prices of oil products in India were increased along with the lifting of price controls on petroleum products according to Indian Petroleum Minister Janeshwar Mishra. The government's move, which was lauded by the private sector, took away subsidies on diesel products. It also caused an increase in gasoline, diesel, and cooking gas by 6%, 26%, and 14.4%, respectively. The country plans to allow prices of oil products such as naphtha and bitumen to be regulated by international prices to ensure efficiency.

Brazil's President Fernando Henrique Cardoso has signed into law new petroleum deregulation measures recently approved by Brazil's Congress. The new law ends more than 4 decades of monopoly by Brazil's [...]

The Philippine government has signified its intention to push through with the deregulation of the country's oil sector despite widespread public dismay over the prospect of price increases. However, the move was hailed by industry executives who contend that deregulation will bring the local oil sector in sync with the world market. The first phase of the deregulation program calls for the implementation of an automatic pricing mechanism.

The Philippines petroleum industry is undergoing deregulation over 12 months from April 1996. Government subsidies are being reduced, price controls are being removed and foreign investment is being encouraged. The Downstream Oil Industry Deregulation Act aims to move toward market pricing using Singapore crude prices as a benchmark. The Oil Price Stabilization Fund is to be abolished. Exxon and Mobil are among companies returning to the Philippines and The Petroleum Authority of Thailand is setting up service stations.

Companies that have long monopolized the Philippine oil market are responding differently to the impending deregulation of the industry by Mar. 1997. The largest refiner, Petron Corp., intends to pursue an expansion program boosted by a robust bottom line while the smallest refiner, Caltex (Philippines) Inc., will abandon its refinery expansion plan but will modernize its existing plant and focus on marketing investment. The Philippine government expects such companies as Mobil Corp., Exxon Corp. and Getty Petroleum Corp. to enter the market when deregulation comes.

Philippine President Fidel Ramos' internationally lauded economic reforms were met with criticism by Filipinos. Ramos' major economic plans are the imposition of a comprehensive tax reform and oil deregulation. Opposition to the expanded value-added tax was led by the Roman Catholic church. Demonstrations protesting the increase of oil prices were also prevalent. However, Ramos' defended his plans by arguing that a government needs to spend and earn to attain progress.

The Center for Global Energy Studies' Global Oil Report predicted that the Asian distillation capacity will merely keep pace with the region's oil demand. The report, which announced the forecast on the basis of regional consumption trends, also placed the projected products deficit in the Asian Pacific region at a steady level of 1.8m b/d until the year 2000. The feasibility of some refinery expansion plans are questionable since increasing construction costs and artificially low domestic prices are limiting the profit margins of oil firms in cash-strapped situations., AMBITIOUS plans to expand Asian refining capacity must go ahead if the region is to avoid further growth in its refined products deficit. The London-based Centre for Global Energy Studies' [...]