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UKPIA review of UK downstream oil industry

UKPIA has published its 2020 Statistical Review.

Key statistics this year include: 

  • £31.8bn was collected in tax from road fuel duty and VAT in 2019, slightly higher than the 10-year average receipts (£30.8bn).
  • The UK continues to be an overall importer of petroleum products, though it is a net exporter of surplus gasoline products. 
  • The UK’s overall greenhouse gas (GHG) emissions basket decreased by 2% in 2018, while the COemissions decreased by another 2.2% since 2017 – all this alongside continued economic growth.

Several new statistical analyses have been included in this year’s publication, most notably on biofuels and UK greenhouse gas emissions.

‘Given the major changes to EU legislation, the UK government’s E10 consultation, and the sector’s own view of the importance of low carbon liquid fuels as shown in UKPIA’s
Future Vision publication in 2019, the time is right to include a fuller assessment of these important low carbon fuels in our assessment,’ explains UKPIA’s Director-General, Stephen Marcos Jones.

He adds: ‘Clearly COVID-19 has put an enormous strain on the economy, which will be captured in next year’s publication. However, the UKPIA
Statistical Review reminds readers of the economic impact of the downstream oil sector and its importance to the UK’s energy needs.’

News Item details


Journal title: Petroleum Review

Subjects: Refining, Taxation, Greenhouse gases, Forecasting

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