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Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Following the oil crisis of 1973-4 refining capacity, and the number of oil refineries, was reduced, and many planned refineries were discontinued. In 1976 there were 17 oil refineries in the UK. [18] By 2000 there were 12 refineries namely: [18] Coryton Oil Refinery. BP Amoco, Coryton refinery (later Petroplus, closed 2012)
Fuel Oil 15.0%; Kerosene 10.0%; About 5.0% of the fuel was used on site for the refinery processes. Non-fuels comprised 4.0% of the production comprising Lubricants, Bitumen and Wax. [7] About 40% of the production from Coryton was exported abroad by ship. The majority (60%) was distributed around the UK by pipeline, road tanker, rail or ...
Storage, 25 tanks, aviation fuel supply from Fawley, supply to Heathrow [1] [9] [2] Stanlow refinery Cheshire West & Chester Essar Oil UK Oil refinery [1] [15] [2] Stansted airport Essex Storage and distribution, 3 × 6300 m 3 tanks and 2 × 150 m 3 tanks, supply from Saffron Walden [3] Sullom Voe: Shetland Enquest
Oil storage tanks at Fawley. Fawley refinery processes around 270,000 barrels (43,000 m 3) of crude oil a day and provides 20 per cent of the UK's refinery capacity. [1] Crude oil is transported by sea in tankers to the refinery's one-mile-long (1,600 m) marine terminal, which handles around 2,000 ship movements and 22 million tonnes of crude oil and other products every year. [8]
The oil and gas industry in the United Kingdom produced 1.42 million BOE per day [4] in 2014, of which 59% [4] was oil/liquids. In 2013 the UK consumed 1.508 million barrels per day (bpd) of oil and 2.735 trillion cubic feet (tcf) of gas, [5] so is now an importer of hydrocarbons having been a significant exporter in the 1980s and 1990s.
The fuel, also known as heating oil in the UK and Ireland, remains widely used in kerosene lamps and lanterns in the developing world. [41] Although it replaced whale oil, the 1873 edition of Elements of Chemistry said, "The vapor of this substance [kerosene] mixed with air is as explosive as gunpowder."
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.