Oil & Gas News – Early July 2023
Estimated reading time 2 minutes
Fuels group, Essar, is extending its distribution network beyond its traditional North West and Midlands regions to the Thames region in a new deal with Essex-based Oikos Storage.
Under the agreement, Essar will store and distribute middle distillate fuels at Oikos’s Canvey Island facility to serve the Thames region, including Stansted Airport.
Furthermore, the agreement will leverage Oikos’s connectivity to the United Kingdom Oil Pipeline (UKOP) system to supply the Northampton and Midlands regions.
Currently diesel and jet fuels are pumped from the Stanlow refinery in Cheshire to the Midlands and Northampton regions along the UKOP system.
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Cutting oil and gas production would be “dangerous and irresponsible”, the boss of energy giant Shell has told the BBC.
Wael Sawan insisted that the world still “desperately needs oil and gas” as moves to renewable energy were not happening fast enough to replace it.
He warned increased demand from China and a cold winter in Europe could push energy prices and bills higher again.
Mr Sawan angered climate scientists who said Shell’s plan to continue current oil production until 2030 was wrong.
Professor Emily Shuckburgh, a climate scientist at the University of Cambridge, said firms such as Shell should focus on accelerating the green transition “rather than trying to suggest the most vulnerable in society are in any way best served by prolonging our use of oil and gas”.
https://www.bbc.co.uk/news/business-66108553
