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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...
...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,...
...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,...
...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....
...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...
...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...
...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...
...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...
...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...
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...
...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...
...2035 and to 92 million bpd in 2040. Net Zero is related to COP15 global climate ambitions. Demand for oil is seen at 98 million bpd in 2025 and 75...
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...
...a number of other developed economies. Unlike oil, for which countries are mandated at all times to carry minimum inventories in terms of days’ demand, there are no comparable requirements...
...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...
...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...
...emerged when only vegetable oils (e.g. rapeseed, soybean and corn oil) were used as feedstocks, however, with the advancement in production methods allowing the use of waste fats, oils and...
...MT. Turning attention to the refinery network and oil products demand. Supply & Distribution: There is now only one operating refinery in the country, the Equinor (formerly Statoil) facility at...
