UK Jet Imports Collapse as Fuel Suppliers Empty Tanks

摘要

UK jet fuel imports have collapsed this year as rapidly falling oil prices have triggered large-scale destocking along the entire fuel supply chain. Manchester airport has run out of fuel three times already this year, with close calls reported at several other UK airports, including London’s Heathrow. The latest Manchester airport stock- out was supposedly caused by a batch of off-spec jet fuel from Essar’s Stanlow refinery. But industry insiders say the refinery glitch only became a problem because oil companies had deliberately emptied airport tanks in order to minimize the impact of falling prices (JFI Jun.11’12). Tanks are at bare minimum across Europe, lead- ing to particular problems at airports, like Manchester, where there are no stock controls. Manchester has co-mingled tanks and rival into-plane suppliers Royal Dutch Shell, Vitol and Q8Aviation are all able to draw on each others’ supplies.