November
2016
19
HYDROCARBON
ENGINEERING
F
ollowing the result of the UK referendum on its membership of the EU, a number
of questions have arisen regarding the country's future interactions with the EU
and its links with the global marketplace. In this evolving landscape, strategically
important energy supply sectors, such as oil refining, have an even more pivotal
role to play in the nation’s energy resilience and in ensuring the UK’s mobility, trade and
growth. It is therefore more critical than ever to consider the necessary steps and
regulatory frameworks that will enable the industry’s long term success.
UK economy
Today, domestic oil refineries make a substantial contribution to the UK economy,
supporting an estimated 88 100 jobs,
1
many with highly specialist skills and technological
expertise. The annual contribution to the economy is some £2.3 billion
2
and each large
refinery is estimated to inject approximately £60 million
3
locally. If the activities of the
UK oil production sector are included, an additional £9 billion
4
can be added to the
annual contribution to the UK economy. As refineries, somewhere, are required to
process UK production, the two sectors cannot be entirely segregated. Refining also
Nunzia Florio, UK Petroleum Industry Association (UKPIA), UK,
explores
how the UK oil and refining industry will change as challenges and
opportunities arise in a new, post‑Brexit Britain.
next?
