Chris Hunt, Director General of the UKPIA commented: “The industrial strategy is a missed opportunity for strengthening the foundation industries upon which the pillars set out in the consultation depend. Today’s announcement acknowledges the importance of partnership between industry and Government to deliver a new, modern industrial strategy for Britain. Whilst recognising that the white paper represents a first step towards creating the right conditions for selected sectors, we urge Government to remain cognisant of the essential role of key sectors and value chains in driving prosperity and growth across the country."
"The downstream oil sector plays a pivotal role in powering mobility, supports over 88,000 jobs across the country, invests billions into the UK economy each year and is one of the most active industries in product and process innovations. We remain keen to work with Government towards a prosperous and innovative future underpinned by a stable policy framework and a long-term, overarching industrial strategy.”
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Notes to Editors:
- UKPIA represents eight oil refining and marketing companies that operate the six major oil refineries in the UK and source over 85% of the transport fuels used. UKPIA members also own around 1,250 of the 8,476 filling stations in the UK.
- UKPIA members supply around 34% of the UK’s primary energy needs and support the employment of 88,100 people across the UK.