Subject category:
Economics, Politics and Business Environment
Published by:
Amity Research Centers
Length: 12 pages
Data source: Published sources
Topics:
Crude oil; Gas; Production; Carbon budget; Energy; Job; Climate; Offshore market; Revenue; Fuel; Petrol pump; Health; Truck driver; Brexit; Tax
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https://casecent.re/p/181670
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Abstract
The oil and gas industry was considered as one of the significant industrial sectors of the UK economy, contributing largely to the revenue generation and job creation. The production of oil and gas were particularly taken place from roughly 300 major oil fields in the UK. As a result, a large number of internationally acclaimed oil and gas extraction companies had engaged in carrying out operations in the UK. However, in 2021, the UK was badly affected by the fuel crisis. In September 2021, a considerable number of car drivers' panic purchasing of fuel had mainly triggered off the fuel crisis across the country. Some factors such as a shortage of truck drivers in the UK, a huge number of drivers' retirement from the job, Brexit, etc, had played a significant role behind the occurrence of fuel crisis in the UK. In an attempt to counter the problem, the UK Government had taken up some measures including the initiatives to enhance the driver testing capability, assigning almost 5,000 temporary visas for lorry drivers particularly to restore the normal supply of the food industry and fuel tankers in the country, putting the army on standby for managing the crisis, suspending the competition law specifically for allowing the oil companies to target fuel supplies at petrol stations, etc. In this context, would the UK be able to surpass the fuel crisis in future?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2021.Geographical setting
Region:
Europe
Countries:
United Kingdom; France; Germany; Belgium
About
Abstract
The oil and gas industry was considered as one of the significant industrial sectors of the UK economy, contributing largely to the revenue generation and job creation. The production of oil and gas were particularly taken place from roughly 300 major oil fields in the UK. As a result, a large number of internationally acclaimed oil and gas extraction companies had engaged in carrying out operations in the UK. However, in 2021, the UK was badly affected by the fuel crisis. In September 2021, a considerable number of car drivers' panic purchasing of fuel had mainly triggered off the fuel crisis across the country. Some factors such as a shortage of truck drivers in the UK, a huge number of drivers' retirement from the job, Brexit, etc, had played a significant role behind the occurrence of fuel crisis in the UK. In an attempt to counter the problem, the UK Government had taken up some measures including the initiatives to enhance the driver testing capability, assigning almost 5,000 temporary visas for lorry drivers particularly to restore the normal supply of the food industry and fuel tankers in the country, putting the army on standby for managing the crisis, suspending the competition law specifically for allowing the oil companies to target fuel supplies at petrol stations, etc. In this context, would the UK be able to surpass the fuel crisis in future?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2021.Geographical setting
Region:
Europe
Countries:
United Kingdom; France; Germany; Belgium