international

Making sense of complexity in international forest governance

A new international policy regime for sustainable forest management may complicate matters rather than provide solutions, according to a new report. It suggests there should be better co-ordination of existing hard and soft policy options and between the numerous organisations involved in forest management.




international

Effects of international wood trade on forests: wealthier countries benefit

International trade in wood and wood products affects forest stocks around the world. A recent study examines the relationship between changes in forest cover and international timber trade at global level. If finds that some wealthier nations with low population density can maintain forest areas while exporting wood; but other, usually poorer, nations, are losing forests through domestic and global demand for wood.




international

Limited resource efficiency achievements for international trade, with concerns over material use

International trade has increasingly relied on material resources since the 1990s, according to a new study. The research used the most detailed global computer model available for capturing the effects of international trade on the environment and on the efficiency of resource use between 1995–2011. Sharp increases in the trade of cheap ‘fast fashion’ and mass market electronics are highlighted as two of the fastest growing drivers of this change in material inefficiency.




international

The importance of boundaries in international river management

The management of international rivers is subject to two main types of boundary: the physical boundary of the river itself and the socio-political boundaries of the nations and regions that surround it. A new study has compared the impacts of managing rivers according to these different boundaries in Europe and Africa.




international

Internationally coordinated use of satellites needed for managing floods

Loss of satellites providing rainfall data could have a negative effect on global flood management, according to new research. However, this could be mitigated by improved international co-operation and the use of more modern satellite technology, the authors say. The study examined the consequences for flood management of the loss of four of the existing 10 dedicated rainfall measuring satellites.




international

BirdLife International’s ‘Important Bird and Biodiversity Areas’ well covered by Natura 2000 in Europe but potential to extend network

The coverage of ‘Important Bird and Biodiversity Areas’ (IBAs) in relation to Special Protection Areas (SPAs) for birds in the EU has been assessed in a new study. Overall, 66% of the IBA network is covered by SPAs. SPAs were found to cover 23% of the distributions of 435 EU bird species as well as 25% of the distributions of mammals, reptiles and amphibians.






international

International DJ Lyndsay Evans to perform at Copper House's Day of the Dead party

Join Copper House on Saturday, November 2, for a colourful celebration at their Day of the Dead Party.




international

​Augmented reality magazine by NTU Singapore earns international recognition with brand new reading experience

...




international

​Augmented reality magazine by NTU Singapore earns international recognition with brand new reading experience

With its fresh and bold design, engaging content, and the creative use of augmented reality (AR) in its bimonthly magazine for students, NTU has earned approval from new and old readers alike, and now the evaluators at the prestigious International Association of Business Communicators (IABC) Gold Quill Awards this year....




international

​Sea level could rise by more than 1 metre by 2100 if emission targets are not met, reveals survey of 100 international experts

...




international

2013 is international year of quinoa

Quinoa is one of the most nutritious foods on the planet, cooked like rice, gluten-free, and loaded with vitamins and minerals.




international

Proposal to ban trade in polar bear parts fails at international wildlife conference

The U.S.-backed proposal was opposed by Canada, which is home to two-thirds of the world's polar bears.




international

SpaceX Dragon capsule makes Easter delivery at International Space Station

Food, supplies, gear — and possibly Easter treats — successfully made their way to the space station.




international

Why you should celebrate International Day of Yoga every day

From increasing flexibility to easing stress, yoga has so many health benefits.



  • Fitness & Well-Being

international

On International Women's Day, a big cheer for a young woman

For International Women's Day, check out 10-year-old blogger Hannah who writes about the environment and social issues.




international

How to donate money during international emergencies so it really helps

When disasters strike, we want to help the victims, even from thousands of miles away. Consider these giving strategies to make sure your donation counts.




international

Conservation International: Asking Businesses the Right Questions

Have you secured the health of nature so we continue to have quality of life?




international

'Nature Is Speaking' by Conservation International

Walmart partner Conservation International has launched the "Nature is Speaking" campaign to provoke a conversation about nature's essential role in our lives.




international

Acturis continues international expansion with French buy

Software house's deal to buy Add Value Assurances follows purchases in Canada, Germany and Denmark.




international

Petrol retailers should reduce their prices in line with falls in international petrol prices

22 April 2020

Petrol retailers should not use the current pandemic to further increase profits, which the latest ACCC petrol industry report shows have risen in recent years, and should pass on the full benefit of falling oil prices to motorists, the ACCC has said.

Weekly average international crude oil prices have decreased by around US$ 50 per barrel since the beginning of the year and this has largely flowed through to Australian wholesale petrol prices, which have decreased by around 50 cents per litre (cpl) in the same period.

Over the same period, seven-day rolling average petrol prices across the five largest cities (i.e. Sydney, Melbourne, Brisbane, Adelaide and Perth) have decreased by around 45 cpl. These cities have regular petrol price cycles, which makes it difficult to assess the exact flow through of falls in international crude oil and refined petrol prices in the short term.

“The drop in the crude oil price is good news for the Australian motorists. At this time the Australian economy needs all the assistance it can get, and lower world crude oil prices are one of the few positives from current world events,” ACCC Chair Rod Sims said.

“In the larger Australian capital cities, petrol retailers took too long to pass on the savings from the rapid drop in international oil prices, and this did not reflect well on them.”

In Hobart, Canberra and Darwin as well as many regional locations, retail prices have been much slower to come down and the extent of the falls has varied widely.

Fuel prices are generally higher in regional Australia due to a number of factors, including lower population and demand, meaning there are fewer petrol stations, which often leads to less competition. There are also higher costs for transport and storage of fuel, and less convenience sales which can support the operation costs of petrol retailers when fuel prices are low.

Price changes in regional centres can lag up to six weeks behind changes in the larger capital cities, because the turnover of stock is generally lower in the country. The reduction in demand for petrol due to current travel restrictions may have further exacerbated the lag.

“We have previously found that the lack of vigorous and effective competition in some regional locations was a major reason for higher prices in those locations,” Mr Sims said.

“Where there is competition, you tend to see lower prices. Giving your business to outlets that are pricing competitively sends a strong message to those that have high prices that they will lose your business. We recommend motorists compare prices on fuel price apps and websites, such as MotorMouth and the government schemes in NSW, WA and the NT, which also provide information on retail prices in regional locations.”

“Especially at this difficult time, retailers must not take advantage of the situation to increase their profits, but should pass on savings to motorists,” Mr Sims said.

“The ACCC’s role is to monitor the market closely, and we will continue to do this, particularly to keep the pressure on the petrol retailers at this time.”

New ACCC report shows retail profits increased over time

The latest ACCC petrol industry report reports on the revenues, costs and profits in the Australian petroleum industry up to June 2018. It includes financial results for the retail and wholesale sectors as well as for refining and across the total downstream industry.

Retail sector net profits across all fuel products, convenience store and non-fuel services were $616 million in 2017-18, the last year covered by this report.

The sector generated a record high $333 million in net profits on petrol products – regular unleaded petrol (RULP), premium unleaded petrol (PULP) and ethanol blended petrol (EBP). This equates to a record net profit of 3.0 cpl on petrol products, which was almost double the average in the period 2008-09 to 2013-14 of 1.6 cpl.

About 60 per cent of petrol net profits ($199 million) were made on premium fuels, which only accounted for about a third of petrol sales by volume.

“Much of the increase in net profits on petrol products was driven by sales of PULP, which has a significantly higher profit margin for retailers,” Mr Sims said.

Net profits on PULP 95 and PULP 98 were 5.8 cpl and 5.9 cpl respectively, while net profits on regular unleaded were 1.5 cpl in 2017-18.

PULP 95 and PULP 98 have become more expensive relative to the retail price of RULP. The annual average price differential between RULP and PULP 98, for instance, increased to 20.4 cpl in 2017-18, an increase of 3.9 cpl since 2009-10. Profits were also influenced by higher sales volumes of PULP (particularly PULP 98).

Retailers also earn substantial profits from convenience store sales. Convenience and other non-fuel sales contributed around 37 per cent of total retail sector net profits (or $226 million) in 2017-18, illustrating their importance to petrol retailers’ businesses as the profit margins on these products are significant.

“Petrol stations make most of their profits from convenience sales and premium fuel. The average net profits on regular unleaded, at about 1.5 cpl are only a small part of the price motorists pay,” Mr Sims said.

The annual average retail price of RULP in the five largest cities in 2017-18 was 134.5 cpl.

“Drivers who have the option, can save money by resisting the temptation of convenience foods at petrol stations and using regular unleaded petrol, although motorists should follow their car manufacturers’ advice,” Mr Sims said.

Net profits in 2017-18 were stronger for refining and across the total downstream industry

The number of refineries halved from eight in 2002-03 to four in 2017-18, significantly rationalising operations. The financial performance of the refining sector fluctuated over the same period.

Refining net profits however recovered following several years of net losses after the Global Financial Crisis. Net profits reached $845 million in 2017-18, the highest since 2007-08. Overall profits for the total supply sector (which comprises refining, importing and transactions between refiners) were $1.19 billion in 2017-18.

Wholesale sector net profits were about $976 million in 2017-18 across all products and services. They have fluctuated over time but have been relatively consistent since 2008-09.

Net profits for the total downstream industry across all products and services were $2.78 billion (or 2.9 cpl), the highest recorded since 2007-08 and more than double the figure recorded for 2013-14 ($1.24 billion, or 1.4 cpl).

For petrol products, total industry net profits were $1.44 billion in 2017-18, or 4.2 cpl, the highest recorded by the ACCC. They were around double the profits on petrol products across the industry in 2013-14 ($723 million, or 2.0 cpl).

Notes to editors

On 16 December 2019, the Treasurer issued a new direction to the ACCC to monitor the prices, costs and profits relating to the supply of petroleum products in the petroleum industry in Australia. As part of this direction, the ACCC produces industry reports that focus on particular aspects of consumer interest in the fuel market in relation to prices, costs and profits.

This is the first industry report under the new direction. It reports on the revenues, costs and profits for the total downstream petroleum industry as well as for the following industry sectors: retail, wholesale, and total supply (which comprises refining, importing and transactions between refiners).

The focus of this report is to provide transparency around the financial performance and the profitability of the downstream petroleum industry. It presents results from analysis of this data.

The ACCC analysed the financial data of 11 companies:

  • refiner–wholesalers – BP, Caltex, Mobil and Viva Energy
  • independent wholesalers – Liberty, Puma Energy and United
  • supermarket chains – Coles Express and Woolworths
  • large independent retailers – 7-Eleven and On The Run.

The ACCC previously reported on financial results to the end of 2013-14.

This report includes data from 2002-03 to 2017-18 (the latest data analysed), but excludes results for 2014-15 and 2015-16, which was a period when the ACCC conducted other financial analysis of the industry as part of its regional market study reports.

All results in this report are in real terms in 2017-18 dollars.

Release number: 
76/20
ACCC Infocentre: 

Use this form to make a general enquiry.

Media enquiries: 
Media team - 1300 138 917
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international

International Cell Phone Services

This article describes how international cell phone service works. It guides the reader thru steps that might help to keep him in touch with the world, while he is abroad.




international

Vicem Yachts 65 IPS Classic on display at Palm Beach International Boat Show 2019

The Vicem 65 IPS Classic, the Turkish-built yacht with classic Down East lines, is on display at the Palm Beach International Boat Show 2019. This Vicem's the first in that size range to be fitted with the Volvo Penta IPS system.




international

Forced Conversion that Violates Human Rights Becomes an International Problem




international

Announcing The 13th Gathering Of The International Council Of Thirteen Indigenous Grandmothers

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international

Authentic Cuba Travel® Launches 3 Official Cuba Tours to Celebrate the 35th Anniversary of the Cuba's International Jazz Festival in January 2020

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international

Jan Pack, RN, BS, COS-C, has been recognized with the Florence Nightingale Award of Nursing by the International Association of Who's Who

Jan Pack, RN, BS, COS-C, from Osceola, Iowa, is honored by the International Association of Who's Who with the Florence Nightingale Award of Nursing for her outstanding contributions within the field of Nursing.




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Alba International Countdown to Pacquiao vs. Horn Showdown

Brisbane-based sales specialists, Alba International, are huge boxing fans, and the firm is extremely excited about the upcoming bout between boxing legend Manny Pacquiao and Brisbane hometown boy, Jeff Horn which is set to take place on July 2nd.




international

Alba International Ecstatic as Underdog Jeff Horn Stuns Manny Pacquiao

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international

Worth Avenue Yachts Hold Record Display At The Palm Beach International Boat Show 2017

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international

Zeelander Yachts' Fastest Yacht Ever to Debut at Fort Lauderdale International Boat Show 2018

Zeelander Yachts, the Dutch shipyard that creates high-end motor yachts with an elegant New York commuter styled profile, announces the world premiere of a new version of the successful Z55 yacht with a revolutionary engine combination.




international

NASA Involved in SIRIUS International Isolation Study

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international

GFA World to Aid 'Forgotten Outcasts' in Asia on International Widows Day, June 23

Event spotlights barbaric treatment of millions of widows around the world, stigma of widowhood




international

Dr. Stuart D. Shoengold has been honored with the Albert Einstein Award of Medicine by the International Association of Who's Who

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international

Dr. Julia Caldwell, M.D., is named Expert in Pain Medicine and Anesthesiology by the International Association of Who's Who

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international

The International Association of Who's Who honors Ms. Carolyn Watts as one of America's Most Influential Nurses and the recipient of the Florence Nightingale Award of Nursing

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By Nature Companies, LLC and Fat Burner Plus Connect with Powerhouse Gym International to Hit Retail Shelves Worldwide

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international

Ms. Sally Cohn has been honored as one of the Most Influential Women in Business by the International Association of Who's Who

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international

The Atlanta Pitch Summit, Goes International, And Debuts Its Return To The City of Atlanta on November 15, 2018 With The Support of The Consulate General of the Bahamas An Opening Night Movie Premiere

Featuring Actor/Philanthropist, Jimmy Jean Louis




international

Jeffrey S. Borer, M.D., has been recognized with the Albert Einstein Award of Medicine by the International Association of Who's Who

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international

International Conference in New Hampshire to Create Impartial Public Policy Forum, Avoid Rhetoric

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international

Maria R. Shelley, CPA, has been recognized as one of America's Most Influential in Finance and Accounting by the International Association of Who's Who

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international

Dr. Pam Gumbs is honored with the Albert Einstein Award of Medicine by the International Association of Who's Who

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international

Dr. Barbara G. Tamulewicz has been Honored as one of New York's Top Dentists by the International Association of Who's Who

Dr. Barbara G. Tamulewicz of Brooklyn, NY has been recognized by the International Association of Who's Who as one of New York's Top Dentists for her exemplary achievements within the field of Dentistry.




international

Dr. Barbara G. Tamulewicz has been honored as one of New York's Top Dentists by the International Association of Who's Who

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international

Jibun Bank wins the prestigious Most Innovative Retail Banking Services, Japan 2019 with International Business Magazine

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international

LCC Asia Pacific Announced as Finalist for 9th Annual International M&A Awards

LCC Asia Pacific nominated as a finalist in multiple deal & industry categories




international

HIC International Co. Inc. is Going to Provide the Most Advanced Mining Conveyor Belts

Conveyor belts are considered as the backbone for all types of mining operation. HIC International Co Inc. is going to launch its advanced and sophisticated carrier belts for mining & industrial uses.




international

Dr. William P. Dillon has been honored with the Albert Einstein Award of Medicine by the International Association of Who's Who

William Paul Dillon, MD, of Williamsville, NY, is recognized by the International Association of Who's Who with the Albert Einstein Award of Medicine for his achievements within the field of Medicine.