Wayne, a global manufacturer of fuel dispensers and technologies for the fuel service station, showcasing its new global range of dispensers, Helix, at the Expo Postos & Conveniência trade show in Rio de Janeiro.
Invesco Asset Management has bought a 40% stake in Knowledge Support Systems for £7.2m. The company bought the stake from venture capital specialists Eurovestech, which is currently readying itself for a delisting from London’s AIM index. Knowledge Support Systems trades as KSS Fuels and had been owned by Eurovestech since 2003 when it bought the company for £1m.
Hungarian state operated producer MOL has reported a net profit of $3.09m for its second financial quarter, down significantly on the same time last year after the company was forced to cancel plans to build a power station and book inventory losses in its downstream business. Low sales in Central and Eastern Europe also dogged the company after it moved 8.3% less of its products than it did in the same three months last year.
BP has announced that it will sell its refinery in Carson, California refinery and related logistics and marketing assets in the region to Tesoro Corporation for $2.5bn. The all-cash payment includes the estimated value of hydrocarbon inventories and is subject to post-closing adjustments.
Waze, a community-powered road navigation app for smartphones, has introduced a new featured allowing users to add the location of fuel service stations to user-edited maps. In the space of two weeks, fully 10,000 stations are on the application's database, which is regularly tapped by 20 million users.
Fuel dispenser manufacturer Wayne has announced that its Helix model was on show at the BP Fueling the Future showcase, held at the BP Hammersmith Flyover site in London. The dispenser, which the company says provides enhanced refueling experience for the customer, will be on display through the Olympic and Paralympic games.