close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

France won’t buy troubled Petroplus Refinery-Hollande

Hollande

The French state will not take over insolvent Swiss refiner Petroplus' oil refinery in Normandy, but could help the plant financially once a suitable buyer is found, President Francois Hollande said on Saturday.

0

January 6, 2013 7:19 by



About 500 jobs at the 161,000 barrels-a-day Petit-Couronne refinery are at risk, the latest industrial headache for the Socialist leader who has vowed to stem rising unemployment.

“It’s difficult to find a buyer. We must do everything to find one,” Hollande told reporters after meeting union leaders in Val-De-Reuil, a town about 110 kilometres (70 miles) north-west of Paris.

“The state will do its duty, but it cannot take the plant over, and the workers know that,” he said.

He added the state could at some point provide financing.

Petroplus poses a major test for Hollande’s government after it faced criticism over the tactics it used in a two-month battle over the future of ArcelorMittal’s Florange steel plant, which unnerved investors in the euro zone’s second largest economy and confused France’s unions.

His administration is struggling to stop a haemorrhage of industrial jobs which has helped push unemployment to 15-year highs, while curbing public spending and raising taxes to help slash debt in a stagnant economy.

A French court set a deadline of Feb. 5 for interested parties to submit bids for the Petit-Couronne refinery.

Shell, which had a six-month oil processing deal with the troubled plant running to mid-December, has not extended its contract, making the refinery less attractive for potential buyers because of expensive restart costs.

So far only NetOil, a company led by Middle Eastern businessman Roger Tamraz, has submitted an offer while 7 others have filed letters of intent to buy France’s oldest refinery.

Net Oil’s offer includes an oil supply deal with BP and an agreement with Hyundai to upgrade the plant.

Other candidates are Hong-Kong-based APG, the Libyan Investment Authority, Jabs Gulf Energy Ltd, an Iraqi company owned by Abu Dhabi’s Hanna Al Shaikh Group, Iran’s Tadbir Energy Development Group (TEDG), Swiss consortium Activapro AG, and Terrae International SA, another Swiss company.

Union spokesman Yvon Scornet told reporters after the meeting that Hollande had promised to do everything possible to push the project forward, but had given no guarantees.



0

Leave a Comment