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UPDATE 4-British military deliver fuel in gas station crisis

Tue, 05th Oct 2021 07:55

* Many gas stations closed - Reuters reporters

* Is the UK in crisis? 'No', Johnson says

* 127 drivers apply for fuel tanker visas - PM
(Recasts headline and lead)

By Henry Nicholls and Hannah McKay

PURFLEET, England, Oct 5 (Reuters) - British military
personnel in fatigues began delivering fuel on Tuesday to ease
an acute trucker shortage that triggered panic buying at the
pumps, though Prime Minister Boris Johnson denied the world's
fifth largest economy was heading into crisis.

A post-Brexit shortage of workers exacerbated by the global
strains of the COVID crisis has sown chaos through supply chains
for everything from fuel and pork to poultry and bottled water,
raising concerns growth could be crimped.

Military personnel were photographed by Reuters at several
fuel depots in southern England driving tankers, some with
instructors, and then delivering fuel to a gas station.

Asked by BBC radio if the United Kingdom was in crisis,
Prime Minister Boris Johnson said: "No."

Johnson said there would be no 1970s-style inflationary
spiral and demanded that business kick a decades-long addiction
to cheap imported labour.

"I think that on the contrary, what you are seeing with the
UK economy and indeed the global economy is very largely in the
supply chains the stresses and strains you would expect from a
giant waking up and that is what is happening," he said.

"What you saw in the last 20 years or more, almost 25 years,
has been an approach whereby business of many kinds, was able to
mainline low wage, low cost, immigration for a very long time,"
Johnson said.

An air of chaos has gripped Britain in recent days as a
deficit of truckers left fuel pumps dry across the land, and a
spike in European wholesale natural gas prices tipped energy
companies into bankruptcy.

Reuters reporters said many gas stations remained closed on
Tuesday in London and across southern England.

BACK TO 1970S?

Johnson said Britain was not heading back to the 1970s when
inflation peaked at 22.6%, labour disputes brought the economy
to a standstill and the government had to borrow from the
International Monetary Fund during a sterling crisis.

Asked if the United Kingdom could suffer a repeat of the
inflationary spiral seen in the 1970s, Johnson said: "I don't
think that the problem will present itself in that way and I
think actually that this country's natural ability to sort out
its logistics and supply chains is very strong."

With fuel companies and supermarkets warning that a shortage
of drivers was hitting deliveries, the government said late last
month that it would temporarily reverse its immigration rules
and give 5,000 visas for EU drivers to operate in Britain.

It said 300 of those could arrive immediately to drive oil
tankers. Johnson said 127 drivers had applied.

"What that shows is the global shortage," he said.

The Times newspaper reported that just 27 fuel tanker
drivers had applied.
(Writing by Guy Faulconbridge; Additional reporting by Hannah
McKay, Gerhard Mey and Henry Nicholls; Editing by Gareth Jones
and Alison Williams)

More News
7 May 2024 12:00

LONDON MARKET MIDDAY: Stocks buoyed by local data, strong US equities

(Alliance News) - Stock prices in London were up at midday on Tuesday, boosted by positive local economic data and tracking European equities that were buoyed by strong US stocks performance on Monday.

Read more
7 May 2024 09:09

LONDON MARKET OPEN: Stocks track global equities rise while BP falls

(Alliance News) - Stock prices in London opened up on Tuesday, tracking European markets in reaction to New York stocks extending their rally on weaker US jobs data, while markets reopened in London after a bank holiday on Monday.

Read more
7 May 2024 08:51

TOP NEWS: BP keeps up pace of share buybacks despite profit decline

(Alliance News) - BP PLC on Tuesday launched a fresh share buyback, despite a drop in first-quarter profit due to lower oil and gas prices and weaker fuels margins.

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7 May 2024 07:02

BP in $1.75bn buyback as Q1 profits fall on weaker prices, margins

(Sharecast News) - BP reported a worse-than-expected fall in first-quarter profit on the back of lower oil and gas prices, an outage at a US refinery and "significantly weaker" fuels margins as it also started a $1.75bn share buyback.

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6 May 2024 15:01

Shell to exit South Africa's downstream businesses

CAPE TOWN, May 6 (Reuters) - Oil major Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions, it said on Monday.

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3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

NSTA awards 31 new licences aimed at boosting output

*

Read more
2 May 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 shines but "mixed feelings" after Fed

(Alliance News) - London's FTSE 100 was solidly higher on Thursday, outperforming European peers, as earnings from the likes of Shell and Standard Chartered impressed.

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1 May 2024 18:30

Sector movers: Oil, Autos drag on FTSE 350

(Sharecast News) - Weakness in the oil patch and among select cyclicals dragged on the FTSE 350 in the middle of the week.

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30 Apr 2024 14:38

UK earnings, trading statements calendar - next 7 days

Wednesday 1 May 
Anexo Group PLCFull Year Results
Cambridge Cognition Holdings PLCFull Year Results
Computacenter PLCTrading Statement
Georgia Capital PLCQ1 Results
GSK PLCQ1 Results
Haleon PLCTrading Statement
HSS Hire Group PLCFull Year Results
Intelligent Ultrasound Group PLCFull Year Results
Maintel Holdings PLCFull Year Results
Next PLCTrading Statement
Smith & Nephew PLCTrading Statement
Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
29 Apr 2024 14:21

Norway's wealth fund falls short on climate ambitions, NGO says

OSLO, April 29 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, is falling short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, a non-governmental organization said in a report said on Monday.

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24 Apr 2024 19:30

Trans Mountain oil shippers raise concerns about risk of delay to full service

April 23 (Reuters) - Some shippers on Canada's Trans Mountain expansion project are raising concerns that the long-delayed oil pipeline will not be fully in service by its projected start date of May 1, according to a letter to the Canada Energy Regulator on Tuesday.

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24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

LONDON, April 24 (Reuters) - Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.

Read more
24 Apr 2024 09:58

Aker BP Q1 beats forecast as costs fall, Tyrving to start sooner

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.

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24 Apr 2024 05:38

Aker BP Q1 beats forecast on record output, lower cost

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted a higher-than-expected net profit for the first quarter as production hit a record while costs fell.

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18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

LONDON, April 18 (Reuters) - BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure.

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