Fuel Oil News October 2018 | Page 17

Wholesale / Refi ning “Against a backdrop of volatility in the fuels market, the past 12 months has seen Phillips 66 continue to invest in our supply infrastructure and further enhance our customer proposition, ensuring that our customers can rely on us for security of supply,” commented Mary Wolf, managing director UK marketing. “Following the move of our marketing department to sit alongside our commercial colleagues in our London offi ces, customer service has remained a key area of focus across our operations. As part of our commitment to offering wholesale customers dynamic spot pricing at our core terminals, we’re currently rolling out our new My Phillips 66 Pricing Portal. The interactive portal will enable customers to view live pricing and place online orders to lift over a period at a fi xed price. This will enable us to offer different pricing mechanisms to suit customers’ needs and to manage peaks and troughs in demand. “The pricing tool, together with our wider technology offering including our DTN TABS online product allocation system, our Codas System-to-System e-Invoicing system and other back offi ce solutions, demonstrates our continued commitment to developing Phillips 66 – security of supply solutions which deliver operational and fi nancial benefi ts for our customers. “As a business we’re continually evolving, and the coming months will be spent engaging with our customers to gather their views on how we can we can further support them. We will also continue our investment in Prax Group – customer support every step of the way The last 12 months have been exceptionally active for wholesale suppliers to the UK’s downstream fuel distribution market. Participants have had to grapple a great number of challenges – from the operational and commercial effects because of changes to RTFO legislation, the operational impacts brought about by snow and freezing conditions following the arrival of the Beast from the East – only to be shortly followed by the hottest ever summer on record – even beating 1976! Add into this mix macro and geopolitical instability due to concerns regarding North Korea, Iran and the rhetoric resonating from the new government in Washington, coupled with the continued uncertainty surrounding Brexit leading to an ever-weakening pound, it is no wonder that oil prices have remained extremely volatile and ultimately on an upward trend. Encouragingly the Prax Group is well- positioned to cope with such demands and our terminal facilities and share updates on developments, such as the extensive capital investments made to enhance Bramhall terminal’s capability and our 16-year throughput contract with CLH Pipeline System signed at the start of 2018.” despite the challenging backdrop, it continues to focus on investing globally and within the UK market as it seeks to continually broaden its appeal to customers. “The strategic decision to expand kerosene at Grangemouth, Dagenham, Grays and Jarrow has been an excellent one. Importantly, customers were able to take advantage of kerosene’s increased availability within our terminal network, especially during a prolonged winter,” stated sales director Stephen Rhodes. The UK market had to adapt promptly to the immediate practicalities that were brought due to the RTFO increase to 7.25% which increases to 8.50% on 1 st January 2019. “As a result suppliers will increasingly need to consider the direct inclusion of biofuel within gasoil and the anticipated introduction of E10 at the forecourt,” commented Stephen. “Many large consumers of gasoil have been traditionally reluctant to accept biofuels, with this legislation now driving change. Listening and consulting with customers, where practicable we would like to provide product choice; where available, this choice has been appreciated by customers. “In a changing world, customers can be assured that they can depend on the Prax Group to support them every step of the way.” Fuel Oil News | October 2018 17