Many reports speculate that this is to finance the costs associated with Gulf of Mexico oil spill, however, BP has outwardly denied that the sale is to finance such costs and is adamant the sale had been in the pipeline long before the Gulf of Mexico tragedy.  

Although the actual figures of the sale remain unpublished at this moment it time, some reports suggest that the sale of the two Malaysian plants could raise over £230million, this deal is expected to finalised by the end of 2010.

BP has been under considerable pressure since the disaster which began in April 2010. The Fuel giant has pledged to take full responsibility for cleaning up the spill and to keep people fully informed of the latest developments.

A page on the BP website is dedicated to communicating all the developments, showing pictures and videos documenting all the efforts made by the company to ‘make things right’.

This decline derives from the difficult economic climate the UK has experienced during the past two years. The downturn has caused a large decrease in HGV activity across the UK and is thought to link with the lowered output also suffered by the manufacturing and construction industries.

Reports state that during 2009 there were less UK hauliers travelling to Europe, while the number of foreign vehicles on UK roads increased drastically.

Recently published statistics show that over the past ten years there has been a nineteen percent lose to foreign road transport businesses, and the lowest number of UK registered HGVs were recorded last year since 1992, this has caused concern for the future of the UK road transport industry.

If you are concerned about the economic conditions and want to gain control over your fleet expenses, let us help you. A business fuel card will enable you to manage your fuel expenditure and provide you with data to identify any inefficiency in your fleet.

With our vast portfolio of fuel cards we are confident that we will be able to supply you with a fuel card that will not only benefit you, but will meet your individual requirements.

If you want to find out more about our fuel cards or would like some advice about fuel card options, why not give us a call?

0845 450 5755

If you want to know a bit more about choosing the correct fuel card for your business, download our free MP3 audio file on choosing the right fuel card for your business, or read our free report at:

http://www.forecourtfuelcards.co.uk/pdf-download.html

Although businesses frequently receive a bad press with regards to carbon footprint, statistics show that they are in fact reducing mileage; between 2007 and 2009 the use of company vehicles lowered by more than eight percent, a decrease on average of over 1000 miles per vehicle, while private vehicles were reported to have lowered by three and a half percent.

Many fleet managers advocate that business vehicles should not be at the brunt of CO2 campaigning, because the bulk of business vehicles are new and replaced after four years of use, making them more efficient.

Recently published figures show that emissions created by new cars on average fell by almost six percent last year. This is a significant mile stone for car manufacturers as it represents the most progress made over the past five years (in a twelve month period). Due to the benefits when considering tax many businesses purchase new vehicles and therefore consider themselves to be lowering their impact on the environment.

Although the government has invested in initiatives to help lower emissions sceptics believe that attaining targets set by the UK government is a long way off, and further investments in technology such as alternative fuel recharging networks, need to be financially dedicated to in order to make a key difference.

This terrible event has brought major concerns to the industry, emphasising the need for increased safety regulations and strict guidelines surrounding deep sea drilling.

The future of the oil industry is now under scrutiny. The importance of regulations and the ability to work co-operatively is under fire, many believe sloppy regulations may have been a major contributor to the cause of the disaster.

On the other hand many believe that the Gulf of Mexico was a freak accident; the oil industry has been drilling in deep sea waters for over 60 years without any previous incidents on this scale. None the less the reputation of BP and other major oil companies’ most certainly need restoring.

The future of the oil companies remain positive, general suggestions state that a few key players will continue to dominant the market, and smaller companies will reap the benefits of larger investments than ever before.

As for the future of oil production; Asia, Africa and the Middle East are all expected to grow in volume, while South American countries are forecasted to use major reserves to satisfy a large percentage of the world’s crude oil demand, subsequently making South America one of the chief investment opportunities for the future.

Wintershall have said that this find could help attain targets to increase the gas and oil output levels for the North Sea area. They remain positive about the opportunity in this area and believe there could be significant potential in this area even compared to major sites like Brazil.

Wintershall made a considerable discovery in July with oil finds off the coast of Norway worth billions of barrels of oil; however reports suggest that future projects will see the German company move from the North Sea to developing countries.

RMI have hit the headlines again by warning that the mass exit of companies from the UK refinery market may lead to major oil brands leaving the dealer sector. This warning is supported by the recent news that Murphy oil has confirmed the sale of its UK sites.

UK refineries generally produce more petrol and import diesel from other countries such as Russia. The world economic state has caused a decrease in demand for oil resulting in the refineries being underutilised. This has made the UK refineries a poor investment opportunity and as a result; four out of eight UK refineries are currently up for sale.

 The recession coupled with tough legislation has impacted the demand for oil and because of this the prospects look bleak for many UK refineries. Many suggest that the work of UK refineries will move east.

This opportunity was expected to gain the interest of all major oil companies, however, BP has decided against perusing work on the new Greenland site. News articles claim that BP was involved in the initial stages however has decided against bidding for the contract.

The Greenland site is considered a breakthrough for oil companies and fuel providers alike however; there are environmental concerns with this area due to its unpredictability, stemming from its cold temperatures.

A BP spokes person is reported to have said that the Mexican disaster has impacted the company’s reputation and therefore did not want to compromise their safety record further.

The tragic event experienced in the Gulf of Mexico has fuelled environmental campaigns in opposition to the Greenland plans. Greenpeace has already made its presence known with the Esperanza ship circling the area.

BP is thought to be approaching future opportunities with caution and although has backed down in this case- future bids are not expected to be impacted.

The research reveals that many businesses are predicting that fleet costs could increase up to ten percent as of January 2011. The investigation tells that an increased number of businesses are now using or applying for fuel cards to curb this cost and manage the fuel purchasing process.

Respondents echoed not only had they saved on the price of fuel through using a fuel card, but the administration surrounding the process reduced too.

If you want to apply for a fuel card but are not too sure which one, our team can help!

If you are not sure how fuel cards would fit into your driver’s routine there is no need to worry, our fuel cards work in a similar way to a credit card. Your drivers purchase the fuel at the forecourt and you pay the invoices on an agreed basis.

A fuel card will help you manage your fuel expenditure and supply you with the extra administrative information, saving you valuable time. The data we capture during the fuel purchasing process will provide you with driver behavior patterns and performance, enabling you to identify any inefficiency.

We can talk you through the benefits of using one of our fuel cards and help you find the right one for your business requirements. We are certain that we can find a card that will meet your needs whether this is: high canopies, price or network coverage, with our extensive portfolio of fuel cards we are certain we will find the most suitable one for you.

For more information on Fuel Cards call Forecourt Fuels 0845 450 5755.

This has not gone unnoticed by environmentalists; Green Peace has already been part of protests in the area. After the recent catastrophe in the Gulf of Mexico, concerns about the unpredictability of the area due to its cold temperature is echoed by many. Campaigns for stricter safety procedures are being carried out to ensure safety before any exploration takes place.

The Edinburgh based oil drilling company has fought back by saying that the exploration of this oil is not as challenging as drilling in the Gulf of Mexico. The local residents of Greenland and Denmark are reported to be excited at the prospect of oil drilling on their territory.

Other neighbouring countries including Russia and Norway are also thought to be in discussions about future explorations.

The emergency budget will impact all fleets; fleets owned by a business outright will now have to find increased funds to purchase news vehicles, while leased fleets will be able to claim back less VAT due to the increased VAT rate.  There are suggestions that leasing may become a more popular option for business fleets to avoid added costs come January 2011.

A recent report urges fleet managers not to overlook minor costs, suggesting that some businesses are not accounting for all the running costs. It is reported that the additional running costs of a fleet, including tax and insurance is often over looked and for that reason an entire analysis is not carried out effectively, causing many businesses to struggle at the end of the financial year.

To help manage fleet running costs a solution that can easily be used by any business is to use a fuel card for each vehicle. There are many benefits from using a fuel card as long as you choose the right one for you, something the forecourt fuels team can help you with. Similar to credit or debit cards, fuel cards function in much the same way; your drivers can use the fuel card to purchase fuel and you can pay for the fuel on an agreed basis, helping your business’s cash flow.

A business fuel card will supply you with the extra information that in the past may have taken you hours to process. Detailed invoices will allow you to calculate your business costs accurately leaving no stone unturned. This will then help you at the end of the year not to struggle with your accounts like many other businesses are predicted to at the end of the financial year.

At forecourt fuels we recognise that you have certain requirements from your fuel card, this maybe; site coverage, higher canopies, certain brands or a low fuel price, we are confident we can find a card that will meet your business’s individual needs.

With business costs set to increase as of January 2011 there is no better time than now to apply for a fuel card for your fleet. Regardless of your fleet size, petrol or diesel fuel, we can help you manage your costs through this difficult economic time.

We want to build a lasting relationship with you, supplying you with the management information you need to run your fleet effectively. If you are struggling under the economic pressures to reduce your fleet’s cost why not give us a call? 08454505755