Development in Oil and Gas Retail Industries

Development in Oil and Gas
Retail Industries

INTRODUCTION
 In the present scenario, oil and gas industry of UK is playing very important role in
enhancing the life of people. Further, it can be stated that the industry is offering
various products such as fuel for transportation of people and goods along with
energy to different power industry
 Other than this, oil and gas industry of UK is also contributing a lot in development
of country's economy by providing employment to thousands of individuals.
However, it can be argued that in recent years, the industry has started facing
various issues and challenges.
 This presentation explains how closure of petrol stations and cutbacks have made
Britain more vulnerable to disruption in oil supply.

UK OIL AND GAS
INDUSTRY

PETROL STATIONS CLOSURES AND CUTBACKS IN
STORAGE CAPACITY
 In last few years, there has been rapid increase in the rate of petrol stations closure in the
country. One of the main reasons behind this is that independent players in industry are
not able to compete with supermarkets and other major players in the industry.
 Today, there are only 8600 forecourts left in the country which is very low as compared
to 37500 forecourts in the year 1970. Petrol stations closures and cutbacks in storage
capacity has emerged as one of the most important issues in front of the entire nation.
 Another reason behind this is that the major player have started fixing prices in petrol
pumps. The government official and other regulatory bodies are trying it really hard to
ensure that the country has secured supply in terms of fuel. In last one decade 29% of
total petrol stations has been closed.