Rank sees revenue increase in Q3 despite Covid-19 impact

first_img Email Address The Rank Group has reported a 5% year-on-year increase in statutory revenue for the third quarter, despite the business being impacted by the ongoing novel coronavirus (covid-19) outbreak.Rank put overall growth during the three months to 31 March down to the success of its digital division, which reported a 21% rise in like-for-like net gaming revenue for the period.The digital arm of its Grosvenor Casinos business saw revenue climb 27%, due in part to continued growth in new players and strong levels of returning players. Mecca Digital also performed strongly with net gaming revenue up 20%.Rank also noted that since the closure of its UK and Spanish venues, as a result of the coronavirus pandemic, digital revenue growth rates have increased further.Statutory revenue was also boosted by the acquisition of Stride Gaming in October of last year, with the Stride business seeing revenue rise 3% in Q3. Rank’s like-for-like revenue – excluding the effects of M&A, club openings, closures, relocations and foreign exchange – was down 4%.Rank also saw year-on-year declines across all other areas its business, as like-for-like revenue for Grosvenor venues fell 5%, Mecca venues 17% and its international venues 12%.That said, according to Rank, UK and international venues businesses performed strongly and in line with expectations in the first two months of the quarter, with weaker trading conditions only effecting the group towards the end of February and March due to coronavirus measures.Focusing more on the impact of coronavirus, Rank said it made progress on its plan to ensure it withstands the crisis and “re-emerge as a strong business”. Rank set out its plans to mitigate the impact of the outbreak last month.Rank said the short-term economic impact to its venues had been significant, but added that it acted swiftly and decisively to mitigate the effects. Across its UK venues and support offices, around 7,000 staff, out of a UK workforce of 7,600, were furloughed.Where relevant, Rank said it topped up the UK government’s Coronavirus Job Retention Scheme so staff in furlough receive 80% of their salary. Its executive and non-executive directors have volunteered a 20% reduction in salaries and fees from 1 April for as long as staff are in furlough. Rank said the positive cash impact of the furlough initiative, and similar schemes in Spain and Belgium, will be approximately £8m per month. The group also benefitted by around £1m per month from the business rates holiday, while it said discussions to reduce cash outflow are ongoing with suppliers and landlords.Meanwhile, Rank said at the outset of the UK lockdown, it requested repayment from HMRC of £25.2m in relation to VAT paid on slot machine revenue between 2002 and 2005 to maximise its liquidity and this was received in early April. Subsequently on 15 April, following an appeal in January, the Upper Tribunal ruled in favour of Rank. Should HMRC be granted permission to appeal this latest decision and the Court of Appeal rule in favour of HMRC, Rank would need to repay the £25.2m. Should this be the case, Rank said it does do not expect any repayment to be made for at least 12 months. In addition, it reached an agreement with HMRC to defer around £40m of tax and duty due to be paid in April 2020 initially until 30 June 2020.Meanwhile, Rank said its board does not intend to recommend a dividend unless all creditors, directly arising from group actions to mitigate the economic impact of coronavirus, have been resolved and it has the necessary visibility on future cashflows following the reopening of venues. Rank had been due pay out this dividend in October.Should all Rank venues remain closed until the end of its financial year on 30 June, Rank said underlying operating profit for the year would be between £48m (€55.1m/$59.8m) and £58m after IFRS 16.Prior to lockdown measures in the UK, Rank estimated that during a period of full closure of all venues, monthly cash outflow before mitigation was £25m and would be reduced to £17m with mitigating actions within its control.However, as a result of the Treasury’s support measures and progress its own mitigations, Rank said its monthly cash outflow rate would be reduced to around £10m from May 2020. As of 31 March, total available cash and facilities, after deducting customer balances, was £166m, with the month of April expected to be broadly cash neutral.“With the tremendous support we have received from HM Treasury and HMRC, together with our own mitigations, we have established a robust financial position to address and withstand an extended period of economic turmoil,” Rank chief executive John O’Reilly said.“Given the uncertainty we face and continued social distancing measures likely to be in place for some time to come, we continue to work to protect cash and to prepare for the reopening of our venues in as safe a way as possible.”Aside from measures to protect its own business, Rank has rolled out a number of other schemes to support the national coronavirus effort in the UK. These have included offering its venues to support key workers and vulnerable people in local communities.Rank also launched a new charity initiative in collaboration with Blue Light Card, a discount service for the UK’s National Health Service, emergency services, social care workers and armed forces. Here, Rank has provided free meals to key workers from some of its UK venue kitchens.In addition, Rank said it has redoubled its safer gambling efforts, incorporating the Betting & Gaming Council’s 10-point action plan and bolstering resource in its safer gambling teams.“I am enormously proud of our colleagues and how they have responded to the decisions we have had to take as well as their selfless response and contribution to the national effort,” O’Reilly said.“We know how important our venues are in many local communities and we’ve answered the call to contribute by stepping up to help those who need it most right now.” Subscribe to the iGaming newsletter Rank sees revenue increase in Q3 despite Covid-19 impact The Rank Group has reported a 5% year-on-year increase in statutory revenue for the third quarter, despite the business being impacted by the ongoing novel coronavirus (covid-19) outbreak. Bingocenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Strategy Bingo Tags: Online Gambling 20th April 2020 | By contenteditorlast_img read more

Centum Investment Limited (CTUM.ke) 2006 Annual Report

first_imgCentum Investment Limited (CTUM.ke) listed on the Nairobi Securities Exchange under the Investment sector has released it’s 2006 annual report.For more information about Centum Investment Limited (CTUM.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the Centum Investment Limited (CTUM.ke) company page on AfricanFinancials.Document: Centum Investment Limited (CTUM.ke)  2006 annual report.Company ProfileCentum Investment Limited is an equity firm specialising in investing in areas of growth, developmental capital and buyouts and seek to make equity investments between US$2 and US$20 million. The company invests in enterprises in the agricultural, education, healthcare, energy, financial services, insurance, information and communication technology, food and beverages, catering, automotive, publishing, real estate, power and FMCG sectors. In the beverage sector, it invests in businesses manufacturing alcoholic and non-alcoholic beverages and carbonated soft drinks. These companies operate in and serve the needs of domestic markets in Africa sub-regions. In most private equity investments, it prefers to acquire a controlling and significant minor stake in the company. The head office of Centum Investment Company is in Nairobi, Kenya. Centum Investment Limited is listed on the Nairobi Securities Exchangelast_img read more

Secure Electronic Technology Plc (NSLTEC.ng) HY2016 Interim Report

first_imgSecure Electronic Technology Plc (NSLTEC.ng) listed on the Nigerian Stock Exchange under the Technology sector has released it’s 2016 interim results for the half year.For more information about Secure Electronic Technology Plc (NSLTEC.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Secure Electronic Technology Plc (NSLTEC.ng) company page on AfricanFinancials.Document: Secure Electronic Technology Plc (NSLTEC.ng)  2016 interim results for the half year.Company ProfileSecure Electronic Technology Plc holds the license to operate the national lottery in Nigeria. Formerly known as the National Sports Lottery, the company has an exclusive 30-year license granted by the Federal Government of Nigeria and governed by the National Lotteries Act 2005. Secure Electronic Technology Plc provides the infrastructure and technology to run the lottery and gaming products. Games managed by Secure Electronic Technology Plc includes 60F49, the newest Jackpot game; 2Sure, the game with the highest payout; 50F90, a fixed-odds game with a pre-determined payout; and Betwazobia, a dedicated 24/7 mobile and online game platform. Secure Electronic Technology Plc’s head office is in Lagos, Nigeria. Secure Electronic Technology Plc is listed on the Nigerian Stock Exchangelast_img read more

France stand up to the Haka – RWC 2007

first_imgThursday Oct 11, 2007 France stand up to the Haka – RWC 2007 So where did it all go wrong for the All Blacks in their crunch Quarter Final encounter with the French on the weekend? ADVERTISEMENTIt started with the toss of a coin to decide who would wear the alternate kit. New Zealand lost it, and due to France’s extremely dark blue kit that is very similar to the traditional All Black kit (coincidence?), the favourites were forced to wear their pyjama grey jerseys with black shorts.Most players would tell you it didn’t phase them, but deep down you can be sure they felt just a bit awkward. After all, the foundation of All Black dominance, intimidation and history is based on that famous black jersey.With the formalities out the way and kick off seconds away, France lined up to accept the Haka. But instead of standing in their own half, normally on the 10m line (or if you’re Italian, huddled in a circle hoping it would just go away!), France stood firmly on the half way line, inches away from their New Zealand counterparts.The look on some of the All Blacks’ faces was priceless, and you could see they were just a little put out.The confrontation was classic, with a large amount of eyeballing and staredowns, even after they’d finished. In my opinion, France certainly got the most out of the traditional challenge.They knew that if they stood a chance against the All Blacks they’d have to stand up to them from the beginning and not be intimidated.ADVERTISEMENT“We talked about it three days ago,” France captain Raphael Ibanez told a press conference.“It was not a provocation but we wanted to show them that we are proud.“We feel a great respect for the New Zealanders but today the courage and pride of this team made the difference.”And a difference it surely made, with the French sensationally knocking the tournament favourites out and sending Paris into raptures.ADVERTISEMENT  Posted By: rugbydump Share Send Thanks Sorry there has been an error See it to Believe it Related Articles 25 WEEKS AGO WATCH: Experts explain what actually happens… 26 WEEKS AGO WATCH: Leigh Halfpenny makes yet another… 26 WEEKS AGO Parisse alley-oop magic sets up brilliant… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyGranny Stuns Doctors by Removing Her Wrinkles with This Inexpensive TipSmart Life Reports30+ Everyday Items with a Secret Hidden PurposeNueey10 Types of Women You Should Never MarryNueeyMen, Try This Tonight – You’ll Never Need the Blue Pill Again!Smart Life ReportsThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

South Africa are World Sevens Series champions after tournament win in Paris

first_imgMonday May 15, 2017 South Africa are World Sevens Series champions after tournament win in Paris South Africa’s Sevens team have won the Paris 7s title, with it claiming the overall HSBC World Rugby Sevens Series title at the same time. The Blitzboks beat Scotland 15-5 in a tense Cup Final at the Stade Jean Bouin on Sunday evening. Fiji, who were second on the table before the tournament, were knocked out in the quarter final stage, leaving England still in the overall series running. Their semi final loss to Scotland, however, meant that South Africa would take the title after a season that included eight out of nine finals.“It’s been an incredible season so far,” said head coach Neil Powell, who mentored his team to their first overall victory since 2009.“We wanted to finish strongly in this tournament and in London next week. Everytime we put out jerseys on our backs we play for South Africa, for our family and our people back home that support us. It’s special for us. We want to say thanks to them for supporting us all year.”New Zealand claimed bronze in Paris, coming third after beating England 12-5.OVERALL SERIES TABLE:1. South Africa 1792. England 1453. Fiji 1424. New Zealand 1275. USA 114ADVERTISEMENT Posted By: rugbydump Share Send Thanks Sorry there has been an error Sevens Related Articles 66 WEEKS AGO Part three of the award winning USA 7s documentary… 107 WEEKS AGO Table topping Fiji fly past Australia to… 114 WEEKS AGO WATCH: Touching jersey ceremony for young… From the WebThis Video Will Soon Be Banned. Watch Before It’s DeletedSecrets RevealedUrologists Stunned: Forget the Blue Pill, This “Fixes” Your EDSmart Life ReportsYou Won’t Believe What the World’s Most Beautiful Girl Looks Like TodayNueeyDoctors Stunned: She Removes Her Wrinkles With This Inexpensive TipSmart Life ReportsIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier Living30+ Everyday Items With A Secret Hidden PurposeNueeyThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancellast_img read more

Shirley Foundation supports “first online disability conference”

The National Autistic Foundation will launch Autism99 on 2 November, the “first-ever worldwide disability conference to happen only on the Internet.”Funding for the conference and Web site was granted by The Shirley Foundation. This is a newly-formed charity dedicated to autism set up by business woman Steve Shirley, who founded the FI group.National Autistic Society branches will also be able to participate in the conference as a result of a fundraising partnership between British Telecom and the Society. NAS was one of five charities to which customers were asked to donate their Friends and Family savings from July to September. Advertisement Howard Lake | 19 October 1999 | News  19 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Web-based conference is the work of RMR Design Associates Ltd. (They subsequently reported that their fee for the conference was £150,000, according to Internet World, August 2000, p.60).Bob Rankin featured the site on Tourbus on 6 November 1999 and commented: “I have to say this is a VERY impressive site – flashy but it still downloads quickly.”You can take part in the conference by registering at Autism99. About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Shirley Foundation supports “first online disability conference” Tagged with: Digital read more

Charity sector’s own staff benevolent fund to close

first_img  27 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 30 July 2012 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. The Charity Employees Benevolent Fund is to close through lack of income. Its Advisory Council will wind down its operations and close the charity when all current financial obligations have been met.The Fund was established in 2003 to provide for current and former charity sector staff who were facing financial need. It is similar to benevolent funds established in many other industries, where employees and employers contribute towards the safety net. It clearly meets a need: the Fund has seen applications increase rapidly during the past year, despite little marketing. It is now receiving over 50 applications a quarter.In announcing the Fund’s planned closure the Trustees of the Fund expressed their dismay that “with some notable exceptions, charities have not yet acknowledged the need for a benevolent fund of last resort for the estimated 650,000 people they employ”.They note that, ironically, “CEBF’s beneficiaries include past and present employees of several large charities which have refused to support CEBF on the grounds that they look after their own staff”.It was the Fund’s failure “to generate a sufficiently large and regular income stream from the charity sector” that has led to this position.The Fund’s achievementsThe Fund’s Trustees were proud of what they had acheived. Since the charity became fully operational in November 2009, CEBF has provided practical assistance to more than 250 families across the country and from all age groups and backgrounds.All applicants have received welfare advice from its voluntary welfare professional, enabling them to obtain the correct state benefits, as well as support in the form of either a direct grant or signposting to another organisation that can help.Any balance remaining in the Fund after it has been wound down will be distributed to a charity for the relief of poverty.Charities that did support the Fund included the NSPCC, New Philanthropy Capital and Victim Support. They made regular donations to it based on the size of their workforce.Search for a new partnerIncluded in the Trustees’ announcement was a final request for any philanthropic organisation that “recognises the need for a charity sector benevolent fund and is sufficiently robust to support CEBF’s work until the Fund is self-financing” to come forward with a view to taking it over as an operating charity.Expressions of interest were invited before 1 September 2012.Commenting on the Trustees’ decision, the President of CEBF Sir Stuart Etherington, said: “I think the Trustees have taken a very difficult decision. It is a great pity this resource is no longer available for Charity Employees; I hope that some benefactor will come forward to assist the fund.”www.cebf.org.uk Advertisement Charity sector’s own staff benevolent fund to close Tagged with: Charity Employees Benevolent Fund Management Recruitment / peoplelast_img read more

AMDC Member Company Recognized With Diversity Award

first_img in Daily Dose, Featured, Headlines, Market Studies, News Home / Daily Dose / AMDC Member Company Recognized With Diversity Award Demand Propels Home Prices Upward 1 day ago Related Articles Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe December 11, 2020 1,180 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Seven mortgage bankers are being recognized as leaders in inclusion and diversity efforts. Yearly, the Mortgage Bankers Association (MBA) spotlights companies that are outstanding in areas of organizational diversity and inclusion-and-outreach strategies.Five Star Global’s American Mortgage Diversity Council (AMDC) member Mr. Cooper Home Loans was one of three companies—along with United Nations Federal Credit Union, and Radian—to be awarded in the “organizational” category.According to organizers, “The Organizational Diversity and Inclusion award celebrates company initiatives that were specifically developed and designed to increase diversity and inclusion within the leadership and employee base of member companies, thereby leading to a mortgage banking industry that may better reflect and understand its customers.”In a press release, the MBA said that Mr. Cooper’s accolades stem from its initiative in creating an inclusive work environment and boosting employee engagement efforts.”In light of recent social events, Mr. Cooper has fostered a robust support system that assists its employees to be open about their feelings and share their stories,” said the MBA representatives.The awards for 2020 are based on reviews by two groups of judges consisting of MBA’s Diversity and Inclusion Committee members and other MBA staffers.The nominees were divided into two groups based on company size and were scored by the quality of their overall submission; identification of a target audience and annual goals; demonstration of a tangible benefit to participants and the overall enterprise; the replicability of the program; and innovation/potential success in broadening the culture of the organization.The MBA’s Organizational Diversity and Inclusion Awardees included:Mr. CooperUnited Nations Federal Credit UnionRadianThe awards for Market Outreach Strategies went to:Banner BankBank of AmericaFirstBankFinicity”We are now in the fifth year of recognizing companies that have gone above and beyond to cultivate a diverse and inclusive environment in their organizations,” said Susan Stewart, 2021 MBA Chairman, and Chief Executive Officer at SWBC Mortgage Corporation. “I am confident that these programs will continue to push the industry forward in its commitment to diversity and inclusion.”AMDC promotes diversity and inclusion throughout the mortgage industry. Learn more, including how to become a member, on mortgagediversitycouncil.com.  The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago AMDC Member Company Recognized With Diversity Award Previous: The American Dream of Homeownership is ‘Very Much Alive’ Next: The Week Ahead: Understanding Eviction and Foreclosure Moratoria  Print This Post MBA Mr. Cooper 2020-12-11 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 1 day ago Sign up for DS News Daily Tagged with: MBA Mr. Cooperlast_img read more

Adams scores 23 with 14 boards, Southern Utah beats Idaho

first_imgBrandon Better hit a 3-pointer to make it 13-11 and the Thunderbirds led the rest of the way. They took a 44-32 lead into the break and Idaho trailed by at least seven points throughout the second half. FacebookTwitterLinkedInEmailMOSCOW, Idaho (AP) — Andre Adams had 23 points and 14 rebounds, both career highs, Monday night to help Southern Utah beat Idaho 75-64 and snap a three-game losing streak. Tags: Andre Adams/Big Sky/SUU Thunderbirds Basketball February 4, 2019 /Sports News – Local Adams scores 23 with 14 boards, Southern Utah beats Idaho Written by Adams, a junior transfer from Arizona State, made all his nine field-goal attempts and hit 5 of 6 from the free-throw line. Dre Marin and Harrison Butler had 14 points apiece and Cameron Oluyitan scored 12 for Southern Utah (10-10, 5-6 Big Sky Conference). Butler, a freshman, added eight rebounds and a season-high four steals. Southern Utah committed a season-low seven turnovers. Cameron Tyson led the Vandals with 20 points, including six 3-pointers. Idaho (4-17, 1-9) has lost seven in a row and 13 of 14. Associated Presslast_img read more

Preem scraps $1.65bn ROCC project at Lysekil Refinery in Sweden

first_img The Lysekil Refinery in Sweden. (Credit: W.carter/Wikipedia.org) Preem has scrapped its planned SEK15bn ($1.65bn) Residue Oil Conversion (ROCC) project at the Lysekil Refinery in Sweden citing economic circumstances resulting from the Covid-19 pandemic.In this connection, the Swedish petroleum and biofuels company has withdrawn an environmental permit application it had submitted in 2016 for the refinery expansion. Instead, the company will opt for a re-prioritisation at the refinery, focused on renewable production.Preem said that although the ROCC project is innovative, it was technically difficult and costly to execute. The project was designed to cut down the production of sulphur-rich heavy fuel oil at the Lysekil Refinery in favour of diesel, gasoline, and other low-sulphur products.According to Preem, the oil conversion project was no longer economically viable due to the impact of Covid-19 on the global energy industry.Earlier this year, McDermott International was given approval to begin the front-end engineering design (FEED) phase for the ROCC project, which now stands cancelled as well.Preem CEO Magnus Heimburg said: “The closure of ROCC is a necessary commercial decision based on an assessment of profitability and technical feasibility. This decision also makes the 2016 permit application redundant.”Preem intends to ramp up renewable fuel production at the Lysekil RefineryThe company said that its re-prioritisation decision will enable funds to be concentrated on projects which will help in increasing renewable production at the Lysekil Refinery.Preem plans to submit a new application during the fall for enabling production of renewable fuels at a large-scale.The Swedish firm said that it is also prioritising the ramp up of production of renewable fuels at its Gothenburg refinery.PREEM intends to make the refinery as the largest production facility for renewable diesel and renewable aviation fuel in Sweden.The company said that an environmental permit process for enabling the Gothenburg refinery to achieve this objective has already commenced and is under process in the Swedish Land and Environmental Court.Heimburg said: “Focus on renewable fuels is the cornerstone of Preem’s overall and long-term business strategy.“In a situation where tough decisions have to be made, it is crucial for Preem to allocate resources to those projects that will accelerate our renewable production fastest and most cost-effectively, I look forward to leading his major and important transition.” The company sees the expansion project at the refinery as economically unviable due to the disruption caused by Covid-19last_img read more