The certainty of uncertainty
Looking through comments and
articles whilst compiling this issue
of Fuel Oil News what is very clear is
the uncertainty that resounds in the
industry and elsewhere.
For the country’s transport industry,
the implications of Brexit have been
high on the agenda during FTA’s
Transport Manager conference season
(pg 11) which arrives in Belfast next
month.
Although Theresa May’s ‘what’s
happening with Brexit’ speech on 17th
January was welcomed, businesses
will certainly need further clarity as
negotiations progress over the next two
years. And, whilst we know what the
government presently intends, there’s
no certainty as to what will actually
happen….
With Northern Ireland facing added
uncertainty following the collapse
of its government last month, one
company (pg19) sees a positive. In
another piece of good news – May’s
commitment to ‘maintain the common
travel area in Ireland’ was appreciated.
On the subject of oil prices – an
area renown for its uncertainty –
Portland sees ‘a consistent edging up
of prices throughout 2017’ and there
appears to be a general consensus that
prices will be above $55 a barrel for
most of the year…..
According to Platts Analytics the
huge stock overhang ‘will disappear by
the third quarter’ with the oil market
moving from over-supply to a more
balanced supply/demand situation.
With an increasing reliance on
EU workers in the UK’s road transport
industry, assurances are being sought
from government that it will still be
possible to recruit and employ such
workers in the future….
Since the departure of the
supermajors, Vitol, Glencore and Gunvor
are playing an increasing downstream
role. At NrgEdge, Easwaran Kanason
expects them to extend their trading
empires and although not certain – set
up brands of their own…..
The winner of the Fuel Oil News 2016 tanker of the year award is
a Mini-Tankers vehicle operated by Wilton Transport. Pictured at
Wilton International, a multi-occupancy chemical manufacturing
site, in Redcar, four drivers currently share this vehicle which covers
an area from Leeds to Alnwick in Northumberland. See page 13.
The monthly magazine for the fuel distribution, storage
and marketing industry in the UK and Ireland.
4-5 NEWS
7 PORTLAND MARKET REPORT
9 TOP 20 UK MAINLAND FUEL OIL
DISTRIBUTORS
11, 25 CONFERENCE REPORT
Transport matters post Brexit
13,15, 17 TANKERS 2017 AND THE
2016 FUEL OIL NEWS TANKER THE YEAR
19 IRISH NEWS
20 ANALYSIS – Oil is not immune to Trump
21-22 INSIDE OUT – the UK’s LPG market
23 ANALYSIS – Pain and gain in the oil market
25 TRADE & TECHNICAL
26 PRICING PAGE
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Volume 40 No 2
ISSN 1757-1057
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Fuel Oil News | February 2017 3