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Development in Oil and Gas Industries

Added on - 05 Jun 2020

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Development in Oil and GasIndustries
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................11. Component moving the size or structure of the present oil and gas wholesale sectors.....12. Technological change on the energy wholesale company in the next ten year..................3CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONThe offshore gas and oil industry has been proving beneficial to the UK nationaleconomy. Products from this industry underpins the modern society, energy is supplied to thepower industry, fuel for all kinds of transportation to carry people and goods to all over the worldinclusive of raw materials for producing many everyday items in the nation. The extensivesupply chain of the oil and gas industry, hundreds of thousand people are getting employed andhave major contribution towards the economy of United Kingdom in terms of tax revenues,exports and technology (Lees, 2012). Present report will be analysing the factors that affects thepresent size and structure of the oil and fluid wholesale sectors or how it influences theimproving cost of oil. This report also measure the expected of technical modification in theselling manufacture of force within the upcoming period of time.TASK1. Component moving the size or structure of the present oil and gas wholesale sectorsThe oil and gas wholesale sector is determine as the sales of petrol and diesel in UK fromthe fuel forecourts of retail, that can also be called as Petrol Filling Stations. There have been alot of factors affecting the sales of PFS from last 20 years. An overall volume that have enhancedfrom approx 28 million tonnes in 1997 to a prime of 19.3 million tonnes in 2007. there face afall to this peak rise of sales of petrol and diesel at PFS in UK that reached about 27 milliontonnes in 2011, the decrease was just an amount of 8% overall in that four years. There was arise in the volumes of diesel in the retail field whereas there was a decrease in the same for petrolthat have been witnessed by UK economy (Tordo and et.al., 2013). Major changes in the pricesof fuel in retail sector affects the changes in the prices of crude oil. Even though, immensity ofchanges keeps varying between both as the prices of crude oil are just a single component thatinfluences the retail prices of fuels like petrol and diesel. Retail prices of fuels are also a subjectto change in relation to the impacts of the cost of refining crude into products, storage costs,transportation of the fuels and their distribution along with the taxes and duties on them.There are some important components of retail prices of fuels, that is, petrol and diesel,and they are categorized in to three main points:1
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