consumption
a bespoke model of the UK's oil consumption,
production and imports up to 2030, to forecast
future stockholding requirements.
necessary individual obligations on market
participants in order to meet the national aggregate
obligation over the period to 2030, and assess the
cost of meeting the obligation under different UK
continental shelf production, declining refinery
throughput and CSO policy sensitivities. IPA also
undertook a cost assessment in order to assess the
economic strengths and weaknesses of each policy
sensitivity.
associations the UK Petroleum Industry Association
(UKPIA) and the Downstream Fuel Association (DFA)
in order to discuss and understand their views on
the current stockholding arrangements and their
approach to meeting any changes to the stockholding
differential and obligation.
assessment, and delivered a user-friendly model
encapsulating all of the analysis with flexibility for
additional sensitivities, to be updated with the latest
market data and trends. Based on the findings, IPA
drafted an independent policy paper for DECC which:
individual CSOs on market participants to meet
national stockholding obligations up to 2030.
changed as a result of changing market and
operating conditions.
the current stockholding arrangements and the
industry's approach to meeting any changes to
stockholding differential and obligation.
cost obligations should be imposed on market
participants to ensure that the UK is compliant
with its international obligations.
and simulation tools, complemented by our energy industry expertise, allows us to objectively analyze the
impacts of changing policy on market participants, consumers and the environment.
October 28, 2015, which referenced a report it had commissioned from IPA Advisory Limited (IPA). The UK is required to hold emergency
stocks of crude oil and petroleum products to release to market in the event of short term oil supply disruption to bridge a gap in
supply. The UK holds these stocks to comply with international requirements.
imposed on refiners and importers to ensure the UK continued to meet its international oil stocking obligations.