Posts Tagged ‘economic’

Overcapacity threatens refineries

February 6, 2010 - 12:00 pm Comments Off

Nothing goes into refining. While Total is planning to close its plant in Dunkirk, lack of opportunities and a sufficient margin, the French Union of Petroleum Industries (Ufip) drives the point home. The situation is "critical," said Jean-Louis Schilansky, its president.

Twelve French refineries are losing "150 million euros a month" since March 2009, and the industry continue to suffer in 2010. The closure of the site Total to Dunkirk, which alone accounts for 13% of the French ability, do not change much, according to Ufip, which dealt with the topic at European level.

"This is not the closure of a refinery in Europe that will be enough to restore the situation," says Jean-Louis Schilansky. It should delete "7 to 8 million barrels per day, or about 10% of installed capacity in Europe."In other words, on the 114 European refineries, "a half" should be closed to restore the balance between supply and demand.

Shell reported a loss of $ 1.7 billion

In France, controls oil products fell by 2.8% in 2009 and nearly 9% in ten years. The economic crisis is not the sole cause of this decline free credit score . Consumers roll than before, and prefer diesel to petrol. Furthermore, the refining overcapacity and inflation of the multiple requirements of ecology and safety is increasing pressure on margins. In this context, the French oil industry does not want to hear about carbon tax."If, in this very difficult situation, we add a layer, it will be worse here," warns Jean-Louis Schilansky.

Total is far from the only group to suffer in oil refining. The U.S. Exxon announced last week a loss of 189 million dollars in this activity in the fourth quarter of 2009. BP just to break even on this trade. Shell yesterday announced an annual loss of $ 1.76 billion in its refining division. This is the "worst crisis" for this activity for twenty-five years, and it does not end in 2010, warned Peter Voser, Shell's CEO. The British giant is planning to sell or close 15% of its portfolio in refining.

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Wall Street started the meeting recessed

February 4, 2010 - 6:52 pm Comments Off

Wall Street started badly the meeting this Thursday. On opening the Dow Jones lost 0.75% at 10,194 points and the Nasdaq fell by 0.87% to 2172 points. The Exchange NEWYORKAISES is affected by the disappointing numbers of jobs. The U.S. Department of Labor lists because 480,000 new applications for unemployment benefits from January 24 to 30, or 1.7% over the previous week. The indicator has thus regained its level of December 12. It's much more than was expected by analysts, who figures the department would have to show a decline in new listings to 455,000 files.

Moreover, markets can not rely on the monthly sales featureless published by major U.S. retailers.

On the values front, Cisco will be monitored closely.The action of the number one global internet network equipment gained 4% in hours trading Wednesday after the publication of quarterly results, above expectations and with comments upbeat on the prospects for recovery in 2010.

Monster Worldwide also should be surrounded. The Action Group on Internet recruitment gained 2.3% in hours trading Wednesday after the quarterly earnings release and the announcement of the acquisition of HotJobs to Yahoo for $ 225 million in cash.

Who Licenses do not recruit abroad

January 12, 2010 - 7:06 pm Comments Off

The prefect of Vienna, in his words, "stuck a little face." Reason for dissatisfaction: Sweden's Autoliv, owner of the manufacturer Autoliv flying car-Isodelta, announced last week in the press came from 22 of his Tunisian employees, to compensate for a lack of manpower on the site Chira-en-Montreuil. Flat: This reorganization comes barely a year after that 80 employees of the company have been acknowledged. "Autoliv has chosen to relocate to Tunisia. Very good. But they take and they do not come here of Tunisian Workers' prevents the secretary general of the prefecture of Vienne, Jean-Philippe Setbon.

Production of flying is in fact shared between the site of Chiré en Montreuil (680 employees), and El Nadhour Tunisia (700 employees).The leather trim has been relocated there fifteen years since the two hours required for each transaction made it difficult profitable in France. But shortly before Christmas, the Tunisian factory hand in flames. It seems logical now to work exceptionally Chiré en Montreuil some of these employees unoccupied. It is effective without the vigilance of the prefect. "When he read it in the press, he asked me to call the consulate of France in Tunisia to halt issuance of visas," says Jean-Philippe Setbon. 80 interim have been recruited to ensure the controls.