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Inter Pipeline is exploring the potential sale of its European bulk liquid storage business, saying it is consistent with the company’s practice of making prudent, long-term portfolio management decisions.
The company says that should a sale be completed, proceeds could be used to reduce outstanding debt and finance Inter Pipeline’s capital expenditure programme, including the Heartland Petrochemical Complex.
Christian Bayle, president and CEO of Inter Pipeline, said:
“Inter Terminals is a high-quality business with outstanding management and staff. It has made an important contribution to the success and growth of Inter Pipeline over the past 14 years.
“Our decision to explore alternatives is consistent with Inter Pipeline’s practice of making prudent, long-term portfolio management decisions particularly in light of our organic growth initiatives.”
Phillips 66, trading as JET, has secured two new site wins with Top 50 Indie operator, TG Convenience Stores, choosing JET as its supplier for its recently acquired Felling and Sunderland Road forecourts. Both sites are located close to each other in Gateshead, north east England.
As part of a strategy to bring its group of companies together, Adler and Allan launched a new brand and logo earlier this month, with the new brand reflecting the company’s enhanced range of services and solutions.
Mabanaft has acquired Junction 29, one of the UK’s top-tier independent truckstops. Completed on 5th August, the deal marks Mabanaft’s strategic commitment to developing a network of truckstops across the country, offering drivers and companies good-value, high-quality truckstops outside of those owned by the oil companies and large group networks.
With a shelf-life of up to 10 years, Crown Oil is backing HVO, which can be used as a drop-in replacement for regular diesel and gas oil with the approval of several major OEMs
Crown Oil has invested in a stock of carbon-neutral, renewable and sustainable HVO biofuel in a bid to shift demand in the UK industrial sector from diesel and gas oil to an alternative with a vastly reduced environmental impact.
This makes Crown Oil the only UK fuel supplier that can supply the synthetic premium biofuel in any quantity, within the same delivery times as all its other products.
“Our commitment to the environment makes us acutely aware of the impact the fuel industry has on global warming, so we are always looking to reduce our footprint in every way we can,” commented Crown Oil’s managing director, Matt Greensmith.
“We are still working towards reaching our own in-house goal of net zero emissions, but at the same time, we can help other businesses achieve their targets too.”
Sajid Javid has promised to continue to freeze fuel duty in the lifetime of this parliament
Having seen an ‘ill-informed report in the Guardian’ earlier this week, the FairFuelUK campaign was quick to comment on a ‘hike in fuel duty’ proposed by the think tank, Bright Blue, which it claims was ‘riddled with inaccuracies and emotive statements’.
On 1st August 2019, the Federation of Petroleum Suppliers (FPS) became the UK and Ireland Fuel Distributors Association (UKIFDA). Created in 1979, FPS rose from the ashes of The National Oil Distributor Association (NODA) since when it has passionately served the interest of its members.
With only three brand refreshes in those 40 years, the management committee is marking the 40th anniversary with a name change that not only means more to the end consumer but, is also a better fit the future liquid fuel industry.
“The industry in which we operate has undergone tremendous changes over the past four decades and the association has continually adapted over that time to ensure that it represents, supports and informs its growing membership,” said Guy Pulham, UKIFDA chief executive.
“It was time now for the association to move on and rebrand. This will ensure that it continues in the same vein, supporting the UK & Ireland’s changing energy landscape.”
As in all sectors, the downstream oil sector needs to consider how it can contribute to decarbonisation goals, whilst providing security, reliability and affordable products to wider society. Future Vision – the latest in a series of publications from UKPIA – seeks to provide a clear vision for the industry’s future.
UKPIA members include key industry players – BP, Essar, ExxonMobil, Petroineos, Philips 66, Shell, Total and Valero with associate members Certas Energy, CLH, Dragon LNG, Local Fuel, National Grid and Puma Energy.
“UKPIA has set out to paint a vivid picture of the range of possibilities on offer for the refining and fuel marketing industries,” said Stephen Marcos Jones, UKPIA director-general.
“We also outline the opportunities available through innovation to achieve a circular economy thanks to developments in feedstocks, operations, fuels and products. UKPIA’s vision for the long-term future of the downstream oil sector is a positive one.
“It is a future where new, low-carbon1 liquid fuels and products can make as much of a contribution to decarbonising the transport we use as can Electric Vehicles (EVs).
Where refinery manufacturing processes can operate with maximum efficiency, potentially utilising carbon-reducing technologies such as carbon capture or, working with other sectors in industrial clusters to decarbonise together.
Where individual downstream oil companies can utilise their expertise and infrastructure to deliver low-carbon fuels and products directly to the consumer, potentially in an entirely reimagined forecourt experience.
The UKPIA Future Vision: The Downstream Oil Sector in a Low-Carbon World report can be downloaded here – http://ukpia.com.publications
New Era is set to generate a turnover of £100 million in the next three years and expand its international footprint, after securing a £2m funding package from Lloyds Bank Commercial Banking to purchase a new depot.
Pembrokeshire-based technical consultancy InSite Technical Services has officially opened its new premises at 1 Cleddau Bridge, Pembroke Dock.
The Tank Storage Association (TSA) has published the fourth edition of its Annual Review which provides valuable data with respect to this important sector within downstream oil distribution.
TSA president Paul Denmead, director of terminal operations, UK at World Fuel Services, highlights that ‘being no further forward in terms of understanding what our exit from the European Union will look like, it is imperative that this is resolved so that we can move forward as an industry. There are many more issues ahead – decarbonistation, IMO 2020, inconsistent regulation to name just three.
“We need to focus on these without the distraction of BREXIT,” says Paul, who is assisted by vice president, Adrian Jackson, chief executive of the Oil and Pipelines Agency. Together they continue to implement TSA’s plan to further develop the association. The past year has seen 13 new businesses join the TSA family and also the launch of a technical committee to help identify areas in which TSA can seek to improve its knowledge and performance.
TSA, which has established the Downstream Oil Industries Forum Trade Association Working Group is seeking to gain alignment with other trade associations in the downstream oil sector on common topics, such as the Road to Zero strategy.
Download the TSA Annual Review at
https://www.tankstorage.org.uk/assets/tsa_annual_review_final_to_print-compressed.pdf
The Scully Signal Company has appointed Katrina Scully Ohl as president and CEO. The granddaughter of the founder, Francis P. Scully, and daughter of Robert Scully, Katrina has a wealth of experience in the industry, having held numerous positions within the company, most recently interim president and executive vice president.
JET has launched its new dual range of JET ULTRA premium fuels, which includes JET ULTRA premium unleaded and JET ULTRA premium diesel. The fuel brand has completed its UK-wide roll out to all sites that previously offered JET premium fuels.
Standard Fuel Oils – an independent Merseyside-based fuel oil distributor – has been identified as one of London Stock Exchange Group’s 1000 Companies to Inspire Britain 2019.
Rix Petroleum has engaged Zelst, a Harrogate-based digital marketing company specialising in search engine optimisation, to help grow its Fuelmate subsidiary by increasing search visibility, rankings, traffic and lead generation.
Greenergy has recently commenced the supply of marine fuel at Tyne in the north east of England.