Alarm survey shows roads in England and Wales worsen

  • Spanish Market: Oil products
  • 21/03/23

The one-time cost of bringing roads in England and Wales up to a "reasonable" standard increased by nearly 11pc year on year to £14.02bn ($17.14bn) in 2022, the highest it has ever been, according to the Annual Local Authority Road Maintenance (Alarm) survey.

Published today by the Asphalt Industry Alliance (AIA), the Alarm showed the number of roads classified as 'good' dropped, those showing some deterioration increased, and those classed as 'poor' remained steady.

Average highway budgets increased by 4.5pc in England and Wales to £4.33bn, but double-digit inflation this year makes this a cut in real terms, the AIA said. Local authority highway budget shortfalls in 2022-23 were at record levels and the average one-time catch-up cost required to clear carriageway maintenance backlogs per authority was £106mn in England, including £36.3mn in London, and £35mn in Wales.

Rising costs linked to inflation mean engineers have postponed or cancelled road schemes in order to make savings. Not all local authorities saw an increase in funding, with 53pc reporting a cut or freeze in their budgets even before inflation is taken into account. Budgets allocated for highway maintenance is 51pc funded by central government, and 49pc from local authorities' own sources.

The average percentage of highway maintenance allocated to the carriageway dropped slightly to 50pc, the lowest in a decade. The average per authority carriageway maintenance budgets fell by 4.5pc in England to £16.9mn, and increased in London and Wales by 29pc and 32pc to £3.5mn and £4mn, respectively. The average shortfall in the 2022-23 carriageway budget has increased by 20pc to £7.7mn per authority, with the total shortfall in England and Wales reaching £1.3bn. This suggests local authorities in both countries only received around two-thirds of the amount they need to maintain their network to their own targets.

The survey reported the total number of potholes filled in 2022 was 1.4mn, down from 1.7mn in 2021 and the equivalent of one every 22 seconds. Spending on pothole repairs fell to £93.7mn last year from £107.4mn in 2021.

Around 51pc of the local road network is in good structural condition, with 15 or more years of life remaining, a fall of four percentane points from 2021.

UK government data show bitumen consumption of 1.6mn t in 2022, a 15pc year on year fall. UK bitumen production was 520,000t, 29pc lower than in 2021.


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18/04/24

UAE air traffic recovery begins after storm disruptions

UAE air traffic recovery begins after storm disruptions

Singapore, 18 April (Argus) — Air traffic at Dubai International (DXB) has begun to recover after an unprecedented storm hit the country on 16 April, although flight delays are expected to continue. "DXB resumed inbound flights of international airlines operating out of terminal 1", a spokesperson for DXB operator Dubai Airports said on 18 April. But it urged travellers not to come to the terminal for outbound flights before confirming their flight status, as it said the access to the terminal is "strictly limited" to guests with confirmed departures. Prolonged flight disruptions at DXB, which was ranked the second-busiest airport in the world in 2023, according to the Airports Council International's preliminary ranking, could affect regional jet fuel demand. Dubai low-cost carrier flydubai said it has now resumed partial operations from DXB, having previously cancelled all of its flights scheduled to depart from Dubai on 16 April evening until 10am on 17 April. Select outbound flights were to operate from DXB's terminal 2 with scheduled operations resuming after 8pm on 17 April, it said, while flights from terminal 3 were due to resume after midnight. But Dubai-owned Emirates Airlines has extended the suspension on check-in for passengers departing DXB until 9am on 18 April, after having initially suspending it between 8am and midnight on 17 April. The airline said the extension was because of "continued operational challenges caused by bad weather and road conditions". Neighbouring Abu Dhabi's Zayed international airport said it is "operating smoothly", despite issuing a warning on 17 April that some flights might be delayed. By Ieva Paldaviciute Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

June deadline set for Citgo auction bids


17/04/24
17/04/24

June deadline set for Citgo auction bids

Houston, 17 April (Argus) — Bidders for Citgo's US refining assets have until 11 June to submit offers for the company's 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set 11 June as the deadline for interested parties to submit final binding bids after non-binding bids were received 22 January. The court began the auction process for Citgo's parent PdV Holding (PdVH) in October, part of the process of satisfying debts owed by Venezuelan-state owned oil company PdV. The court will file a notice of a successful bid "as soon as reasonably practicable" following the 11 June deadline and selection of a successful bidder. No date has been set for the filing of objections to the sale or replies to the objections before the tentative 15 July hearing. The legal wrangling over Citgo is unlikely to conclude even if the Delaware court successfully executes the sale as 27 businesses have filed claims against Citgo amounting to more than $21bn. The scale of Citgo's operations in the US are also a challenge to any potential buyer. Few companies look ready to buy the company's three refineries, three lubricants plants and retail and midstream assets. The assets have been valued by various analysts anywhere between $6.5bn and $40bn, with a lofty valuation potentially deterring bidders. But the auction process itself has been the main cause for concern. Independent refiner PBF Energy's chief executive Matthew Lucey previously called the auction a "quagmire" , considering its ties to a complex geopolitical situation in Venezuela, saying he did not expect the sale to go anywhere in the near term. Marathon Petroleum expressed similar disdain. "We're not interested in the auction process," Marathon chief executive Michael Hennigan said on an earnings call in October . By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Idemitsu books rare US Gulf-Vancouver HVO cargo


17/04/24
17/04/24

Idemitsu books rare US Gulf-Vancouver HVO cargo

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Exxon German refinery sale in limbo after court ruling


17/04/24
17/04/24

Exxon German refinery sale in limbo after court ruling

Hamburg, 17 April (Argus) — ExxonMobil's plan to sell its share in German refining joint venture Miro has been delayed by a court order following a petition by fellow Miro shareholder Shell. ExxonMobil agreed to sell its 25pc stake in Miro , operator of the 310,000 b/d Karlsruhe refinery, to Vienna-based Alcmene in October last year. The two sides were aiming to close the deal in the first quarter of this year, but in a letter seen by Argus last month, ExxonMobil said completion had been pushed back to the summer because some of the administrative procedures had yet to be finalised. Argus has since learned that a regional court in Karlsruhe issued an interim order against the sale on 18 January at Shell's request. Shell originally petitioned a court in Hamburg on 20 November, but the case was later moved to Karlsruhe, according to a court spokesperson. The judgement prohibits ExxonMobil from splitting off or transferring its Miro shares. The firm has already appealed against the judgement to a higher court in the region. A decision is pending. Exonmobil's partners in Miro are Shell with a 32.25pc stake, Russia's Rosneft with 24pc and US firm Phillips 66 with 18.75pc. Rosneft's German refinery assets have been under state trusteeship since September 2022. By Natalie Mueller Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Shell geht gegen Verkauf von Essos Miro-Anteilen vor


17/04/24
17/04/24

Shell geht gegen Verkauf von Essos Miro-Anteilen vor

Hamburg, 17 April (Argus) — Im Januar hat das Landgericht Karlsruhe einem Antrag von Shell Deutschland auf eine einstweilige Verfügung gegen den Verkauf der Miro-Anteile von Esso stattgegeben. Esso hat daraufhin Berufung eingelegt. Es ist unklar, ob und wann der Verkauf stattfinden wird. Ein entsprechender Antrag auf einstweilige Verfügung sei bereits am 20. November 2023 von Shell in Hamburg gestellt worden und wurde schließlich nach Karlsruhe überwiesen, so ein Sprecher des Landesgerichts. Mit dem Urteil sei es Esso somit untersagt, ihre Anteile an der Miro (310.000 bl/Tag) abzuspalten oder zu übertragen. Im Oktober 2023 hatte Esso den Verkauf ihres 25 %-igen Anteils an das österreichische Unternehmen und Liwathon-Tochter Alcmene bekanntgegeben. Anfang April folgte dann die Mitteilung, dass die Umsetzung der Übernahme aus administrativen Gründen auf Sommer 2024 verschoben wurde. Ursprünglich war diese für das 1. Quartal vorgesehen. Esso hat bereits beim Oberlandesgericht Karlsruhe Berufung gegen das Urteil eingelegt, so der Sprecher des Landesgerichts Karlsruhe. Ein abschließendes Urteil wurde bislang noch nicht gefällt. Sollte das Oberlandesgericht das Urteil aus erster Instanz aufrechterhalten, könnte dies die Übernahme der Miro-Anteile durch Alcmene weiter verzögern oder komplett stoppen. Von Natalie Müller Senden Sie Kommentare und fordern Sie weitere Informationen an feedback@argusmedia.com Copyright © 2024. Argus Media group . Alle Rechte vorbehalten.

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