Opinion
Highs and lows of the oil price drop
...for central heating have not benefited as much from cheaper crude oil “because they are locked into longer-term contracts,” “As they renew their contracts, they’ll get a better deal if...
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Insight
FETSA calls for overhaul of energy security strategy
...Broaden strategic reserves to include refined products and future carriers like hydrogen and synthetic fuels – not just crude oil. Stockpile size: Preserve or grow current volumes to increase resilience,...
Interview
Celebrating 50 years of innovation
...Then in November of 1973 OPEC suddenly decided to rapidly increase the price of crude oil which literally changed the domestic heating scene overnight.” That year, the price of kerosene...
Case Study
QMRE: Transforming plastic waste into sustainable solutions
...meaningful impact on reducing emissions and reliance on crude oil. Partnerships with fuel blenders and distributors Additionally, companies looking to meet their net-zero targets are actively seeking alternative fuel sources...
News
The distributor offer revisited
...around the whole process of price determination. There is a general lack of understanding of the transmission mechanism between changes in crude oil prices and those at the retail end...
News
Valero to purchase SemLogistics’ Milford Haven storage facility
...facilities with 8.5 million barrels of capacity for storing gasoline, gasoline blend stocks, naphtha, jet fuel, gas oil, diesel, and crude oil. Over 67% of the storage capacity is multi-product...
News
The Prax Group acquisition, appointments and securitisation
...is one of Europe’s most advanced refineries, processing over 20 different types of crude including, petrol, diesel, bitumen, fuel oil and aviation fuels, which are transported across the UK and...
Analysis
Ambitious EV growth targets raise UK grid concerns but what of the impact on oil demand?
...to 80 percent of a barrel of crude directly into chemicals , bypassing the refining stage. EV manufacture requires many such chemicals, so success would see Aramco supplying even more...
Interview
The downstream customer
...up for the consumer.” Sue: “We presume it’s based on the current barrel price of crude oil but are unsure how pricing is established. My husband, David, looks at this...
News
September 14 update
...& Gas industry (crude oil, natural gas and refined products) accounted for over 50% of Scottish exports and without the sector, Scotland would be running an annual budget deficit in...
News
New executive director at the TSA
...crude oil, petroleum and chemicals as well as potable liquids, edible oils and fats. Receipt and delivery of these products takes place by means of sea transport, inland barge, road,...
News
BP to cut 10,000 jobs as virus hits demand for oil
...The majority of people affected will be in office-based jobs. We are protecting the frontline of the company and, as always, prioritising safe and reliable operations.” The Brent crude oil...
Insight
Compulsory oil stocking obligations: a UK update
...full refined products’ slate, crude oil, feedstocks and NGL’s These obligations have reduced significantly since they were first introduced in 2012 (22.5 days for finished products), primarily reflecting the impact...
Opinion
“A solution to plastic pollution that makes business sense.”
...of chemical recycling technologies used more crude forms of incineration, which released toxic fumes into the working-class neighbourhoods where plants were located, newer technologies have offered a cleaner, greener way...
Interview
Essar Oil UK Ltd: from manufacturing complex to energy park
...of the oil industry potentially profiteering in the current market. Carlos was keen to clarify Essar’s position: “Refineries are not the price setters. We buy crude, and we sell products...
News
Oil trader expands into physical assets
...rumoured to be among those interested. Yesterday a crude oil tanker was heading for Coryton. Does this mark the end of the three month rescue deal or the start of...
News
Oil prices rise on OPEC+ deal extension
...climb to their highest level in 3 months. In addition to the extension, it was announced that Saudi Arabia will be reversing nearly all the discounts on its crude, with...
News
Oil theft on the rise
...crude oil rises and are advising homeowners to take a few simple steps to secure their oil tanks. These include keeping oil levels as low as necessary to reduce the...