News
UK refining – hunting for answers
...by 2035, the International Energy Agency expects 80% of EU transport fuel demand to still be met from oil derivatives with most demand met by ordinary fuels particularly for the...
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Opinion
Highs and lows of the oil price drop
...fuelled by heating oil. As the first wave of the Coronavirus spread across the globe, forcing the majority of the world into lockdown, the demand for fuel fell off a...
News
Could heating oil prices be frozen?
...rising demand for refined oil products. Indeed, the same report pointed out that the UK depends on imports for 44% of its heating oil requirements. A fact that vividly illustrates...
News
BP energy outlook suggests global oil demand may have peaked
...climate action, suggests that demand will plateau at the 2019 level for several years before declining from around 2035. While oil demand is not expected to collapse, a plateau or...
News
Portland Market Report – oil prices
...Coronavirus has hit oil (and stock) markets like a whirlwind and all at a rather inconvenient time for the global oil industry. We discussed the impact on demand last month,...
News
Unprecedented demand creates temporary oil shortage in Ireland
The recent extreme weather has caused a massive surge in demand for home heating oil in both Northern Ireland and the Republic of Ireland, creating temporary shortages with distributors forced...
Insight
How does the french downstream sector compare to the UK?
...major consumption points. A key area of difference is the composition of overall demand, with diesel accounting for 52% of total demand vs 35% in the UK. Unlike the UK,...
Opinion
Non-energy use of oil products a huge challenge to international trade
...cycle — with spikes in the oil price often occurring before economic recessions,” said Chapman. “Oil has been essential for economic growth, but our reliance on it has created vulnerabilities....
News
US oil price falls below zero for the first time in history
...reducing oil demand, but some industry forecasts were acknowledging a flattening off in long-term demand last year, before the pandemic began. “All companies in the sector will be looking at...
Opinion
North Sea oil and gas must address challenges to mitigate energy crises
...report series from the Oil and Gas Transitions (OGT) initiative. Long a strategically important reservoir for oil and gas, the North Sea is now a pivotal ground zero for net...
Insight
The changing world of the oil trader
...mt, which exceeds the combined inland oil demand of Germany, France and Italy. Looked at from another perspective, it represents almost four times the UK’s 2012 inland oil consumption! Tougher...
Interview
The battle to offer a competitive product
...Top Oil has invested in its Dublin terminal Tackling low margins Outlining how consumer spending has changed, Martin said heating oil order sizes had reduced to 500 litres and even...
News
With a little help from our friends and family
...Fuel Oils told Fuel Oil News editor, Jane Hughes. One of the newest entrants into fuel oil distribution, Standard Fuel Oils is based in Merseyside. Twenty-eight year old Nick has...
Opinion
We’ll meet again: oil to gas price gap shrinking rapidly
...added oil demand in our view. Highly untraceable or detectable and out of sight. But this bullish drive for crude oil will be lost the moment natural gas price moves back...
Opinion
Preparing for a new oil world
Boris Ivanov Boris Ivanov, founder of GPB Global Resources discusses how the fuel oil industry can begin to prepare for the new oil world. With BP cutting 10,000 jobs and...
Opinion
“Do you agree with the Northern Ireland Housing Executive (NIHE) that the Province should have more oil buying clubs?”
Donall O’Connor, Value Oils “As Northern Irish oil distributors, we are part of a saturated supply market where consistent pressure on margins exists for all but a few high demand...
News
The shipping news
...High Sulphur Fuel Oil LSFO – Low Sulphur Fuel Oil LSMGO – Low Sulphur Marine Gas Oil IFO – Intermediate Fuel Oil ECUK – East Coast UK ECA – Emission...
News
OptiMate is the key to MechTronic success in Ireland
...Dundalk Oil, Atlantic Oils and Stewart Oils all placing (and receiving) orders in 2020. Barry Finlay at Dundalk Oil said; “We are delighted to be the first fuel oil operative...