Advertisement
UK markets closed

  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     

  • FTSE 250

    20,164.54
    +112.24 (+0.56%)
     

  • AIM

    771.53
    +3.42 (+0.45%)
     

  • GBP/EUR

    1.1668
    +0.0016 (+0.14%)
     

  • GBP/USD

    1.2570
    +0.0024 (+0.19%)
     

  • Bitcoin GBP

    51,134.26
    +472.56 (+0.93%)
     

  • CMC Crypto 200

    1,371.98
    +59.36 (+4.52%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +449.98 (+1.18%)
     

  • CRUDE OIL

    78.69
    +0.58 (+0.74%)
     

  • GOLD FUTURES

    2,321.80
    +13.20 (+0.57%)
     

  • NIKKEI 225

    38,236.07
    -38.03 (-0.10%)
     

  • HANG SENG

    18,565.71
    +89.79 (+0.49%)
     

  • DAX

    18,049.96
    +48.36 (+0.27%)
     

  • CAC 40

    7,979.80
    +22.23 (+0.28%)
     
BRANDS:

Meet one of the UK’s largest unknown start-ups

Video editing platform Veed has grown to 10 million users

UK more dependent on fuel imports as refining capacity falls

Reuters - UK Focus

LONDON, Feb 27 (Reuters) - Britain's net imports of petroleum products more than tripled last year, according to government figures, after a fresh wave of refinery cuts left the country unable to meet its demand.

A Reuters analysis of figures from the Department of Energy and Climate Change (DECC) showed that Britain's net imports of petroleum products jumped to more than 7.5 million tonnes in 2014, up from about 2 million tonnes in 2013 - the first time it had been a net importer since 1984.

The cuts have left Britain increasingly dependent on fuel imports, raising concerns that as bottlenecks emerge at strained import terminals the country will be vulnerable to supply shocks and price spikes. (Writing by Claire Milhench; Editing by Pravin Char)