Fuel Supplies: War in Iran Debate
Full Debate: Read Full DebateLord John of Southwark
Main Page: Lord John of Southwark (Labour - Life peer)Department Debates - View all Lord John of Southwark's debates with the Department for Energy Security & Net Zero
(1 day, 9 hours ago)
Lords Chamber
Lord John of Southwark
To ask His Majesty’s Government what plans they have to ensure the continuity of fuel supplies in the light of the war in Iran.
The UK benefits from a strong and diverse fuel supply. The fuel supply industry has been clear that fuel production and imports continue as usual. The Government continue to monitor the situation closely and will act if necessary. The essential lesson of this conflict, however, is that while we are dependent on fossil fuel markets, we are exposed to volatile prices. The answer must be to go further and faster towards homegrown clean power that we control.
Lord John of Southwark (Lab)
I thank my noble friend for his Answer. Two matters prompted my Question: first, reports that 20% of the world’s oil supply passes through the Strait of Hormuz, and, secondly, reports at the weekend and since that the UK has only four weeks of fuel supplies in reserve. Given that, can he tell me how much of the UK’s supply is dependent on the oil that passes through the Strait of Hormuz? If current disruptions to worldwide oil supplies continue, how long will it be before the Government are forced to introduce restrictions on or rationing of fuel supplies?
I thank my noble friend for his question. His first statistic is correct. His second statistic, not that it is necessarily one that has his support, is categorically untrue—it is categorically untrue that there are only four weeks of fuel supply in the UK. However, the Government are closely monitoring the situation to ensure that supplies remain resilient. The UK remains a net exporter of petrol, with domestic capacity sufficiently filling this demand, while diesel volumes are met mostly by domestic production and imports from trusted partners. Only a small percentage is obtained from the Middle East. The majority of crude oil used for UK production comes from the United States and Norway, with just 1% from the Middle East. The UK obtains a proportion of jet fuel from the Middle East, but the fuel supply industry has been clear that fuel production imports are continuing across the UK as usual.