News
Cheaper heating bills for oil households
...expensive than oil at £1,190 per annum. According to a new report from DECC published last month, the downward trend in oil prices is set to continue over the next...
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News
Off grid homeowners benefit from low prices
UKIFDA says off grid homeowners across Great Britain are seeing prices of heating oil drop by up to 27% since the same time last year, according to the latest figures...
News
Heating oil theft falls
...influenced by the sustained fall in heating oil prices we have seen over recent times, meaning oil is not the expensive commodity it once was.” “The report findings also suggest...
Insight
The downstream oil market landscape of Ireland in the 2020s
...Oil. In 2018, Irving Oil acquired large independent, Tedcastle Oil Products (TOP), providing it with a distribution terminal in Dublin as well as a substantially expanded market reach. The refinery...
Opinion
OMJ anticipates oil market movements
Amidst a global lockdown resulting in less and less demand for oil, the oil market has been in turmoil. Ian Moore, director of the Oil Market Journal (OMJ) shares his...
Insight
Security of oil supply in the fuel distribution sector
...of Russia’s role in the petroleum industry as the world’s second-largest crude oil producer and largest exporter of refined oil products. Closer to home, Russia supplies about 30% of Europe’s...
Market Report
Portland Market Report – A spectacular own goal or a pivotal act of unknown agents?
...prices hit $40 per MMBtu (Metric Million British Thermal Units) – the oil equivalent of around $675 per barrel – and by the summer of 2022, gas was trading at...
News
OFT boosts transparency on heating oil prices
Following OFT action, GB Oils, the largest supplier of heating oil in the country, has changed its domestic heating oil contracts ensuring quoted prices do not increase from the time...
News
OMJ expands product range
The Oil Market Journal has greatly expanded its product offering to help clients to future proof their business for the low carbon economy. In addition to providing oil prices, OMJ...
News
Stable oil prices mean a fall in Group revenue for J.R. Rix & Sons
...peak at £535.1m, was fuelled by a steep rise in crude oil prices brought about by the war in Ukraine. In 2023, oil prices dropped 17.9%, marking a return to...
News
Fuel poverty could affect an extra 300,000 households this winter
...that energy prices rose by 7% in 2012, with the average energy bill at £1247. In the case of oil, at the start of December average prices are virtually unchanged...
News
Oil-fired homes – the clear winners
...existing buildings in the Republic of Ireland. “Oil prices have tumbled once more, making oil heating the cheapest form of home heating regardless of location, type of property and whether...
News
Raw deal for rural renewables
...using oil for heating and hot water. If an existing oil-fired boiler was replaced with a biomass model then fuel bills would actually rise by £430 per year. Ground source...
Insight
The changing world of the oil trader
...Total, etc. These vertically integrated international oil companies (IOCs) have been joined by state owned concerns, or national oil companies ( NOCd )- names such as Aramco, Kuwait Petroleum, IPC,...
News
UK and allies announce price cap of $60 on Russian Oil
...secure affordable oil. A General Licence will be published shortly that will provide an Oil Price Cap exception for third countries, so that firms supplying oil to them are able...
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...
Interview
Why are new UK oil fields essential to a sustainable future?
...oil fields like Cambo, says Katy Heidenreich, operations director at Oil & Gas UK (OGUK) who shares her thoughts with us: “Shell’s decision to suspend its involvement in Cambo, the...
News
August update
...impact it may have on oil prices within the EU. The GSP allows import tariff exemptions on goods from developing countries, thereby encouraging trade with poorer countries. It may come...