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Brexit: MP’s fears for Valero over ‘No Deal’ petroleum tariffs

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PRESELI MP Stephen Crabb has warned that the Government’s planned approach on petroleum tariffs in a No Deal Brexit scenario would undermine British oil refining and give foreign refineries an unfair advantage.

Following a meeting with United Kingdom Petroleum Industry Association (UKPIA), a No Deal planning meeting at the Cabinet Office and concerns raised by Valero, Stephen Crabb has written to the International Trade Secretary Liam Fox to ask that the proposed zero import tariffs on gasoline in the event of a No Deal Brexit are looked at again.

In the event that the UK leaves the EU without agreeing a deal, petroleum products from UK refineries exported to the EU will immediately face additional costs from import tariffs. However the UK Government has said that it will not charge tariffs for product coming from the EU into the UK. This means that there will no longer be a level playing field and UK refineries, including the Pembroke Valero refinery, would be at a serious disadvantage.

Six refineries operate in the UK and the industry contributes £8.6 billion directly to UK GDP, while supporting a further £12.6 billion elsewhere in the economy; it also provides more than 120,000 jobs and supports a further 180,000.

Commenting on the concerns, Stephen Crabb said: “Zero import tariffs on gasoline would see UK gasoline producers unable to compete with the EU and Russian suppliers who will have tariff-free access to the UK. This would seriously jeopardise the competitiveness of refineries such as Pembroke, unnecessarily putting jobs and livelihoods on the line.”

“I have tabled questions in Parliament about the potential effect of a No Deal on the petrochemical industry and I have written to the International Trade Secretary urging the Government to look again at these zero import tariffs. I understand why Ministers would want to stop price increases at the pump in a No Deal scenario but the economic damage to British refineries would far outweigh any potential impact on consumers. This point is of huge importance and the UK Government must be looking to protect our key industries at such an uncertain time.”

“Since the referendum I have been entirely consistent in arguing for a negotiated deal that lays the foundation for a close ongoing partnership with the EU including trade, security and education after we leave the EU. I believe in honouring the referendum vote but in a responsible way. I have spent the last three years in close discussions with local businesses and employers about what kind of approach is best for Pembrokeshire. That is why I have opposed No Deal outcome and continue to support the deal that is on the table.”

Stephen Crabb MP: Risk to UK oil refineries highlighted

Business

Expansion for Ashmole & Co with acquisition of Jones Ward Accountants

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CHARTERED, Certified Accountants, Ashmole & Co, are delighted to announce their expansion following the acquisition of JonesWard accountancy firm in Carmarthen.

Ashmole & Co Carmarthen has today taken over JonesWard who have closed their office in Lammas Street, Carmarthen. All JonesWard staff, including Ian Jones and James Ward, have transferred over to Ashmole & Co and will be based in the Old School, the Quay, Carmarthen.

JonesWard informed their clients that the administrative burden of running a practice had increased significantly over recent years due to the constant changing money laundering and tax regulations, software requirements and so on. Over the past 12 months it had become more challenging to maintain the level of service they had been used to providing.

Ian Jones said, “We feel Ashmole & Co share the same values as us and have the necessary expertise and resources to ensure we can continue to provide the personal touch and level of service clients have been accustomed to. Myself and James are not retiring but we will be supported by Ashmole & Co’s partners and staff from now on in their Carmarthen office.”

Ashmole & Co partners Sharon George, Carwyn Morgan and Vinal Patel will strive to ensure JonesWard clients will continue to receive the high quality of service they are used to.

Vinal Patel, Partner with Ashmole & Co said, “It is our priority to make the transition as smooth as possible with all employees of JonesWard having already transferred to Ashmole & Co and are now based in our office on the Quay in Carmarthen. We look forward to meeting our new clients and working closely with them to meet their needs in the future.”

Ashmole & Co Chartered and Certified Accountants have been established since 1897 and are one of the largest accountancies and auditing practices in south Wales, now operating from thirteen offices throughout south and west Wales including Swansea, Carmarthen, Haverfordwest and Ammanford.   

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Charity

Fundraiser to take on epic 87k steps challenge to raise funds for Withybush

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SAM Faulkner is challenging himself to walk 87,000 steps in one day to raise funds for the Cardiac Care Unit at Withybush Hospital in memory of his father.

Sam will be walking along the Brecon and Monmouth Canal from Brecon to Rogerstone in Newport.

Sam said: “Since losing my Dad last year, I made a personal commitment to do something to raise money every year for the Cardiac Care Unit at Withybush Hospital in Haverfordwest who looked after my Dad so well in his final days.

“I will be challenging myself to complete 87,000 steps in a day on July 20th 2024 – 1,000 steps for every year of my Dad’s life. I’ll be walking around 40 miles in about 10 hours.

“Canal walks were always a firm favourite of mine and my Dad’s, with many days spent walking along the Grand Union in Northamptonshire when I was growing up.

“My family and I, and the unit at the hospital, would be beyond grateful for anything supporters could give. Thank you ever so much in advance.”

Katie Hancock, Pembrokeshire Fundraising Officer, said: “We’d like to say a huge good luck to Sam with his challenge. Thank you so much for dedicating your time to raise more funds for the Cardiac Care Unit.

“The support of our local communities enables us to provide services over and above what the NHS can provide in the three counties of Hywel Dda and we are extremely grateful for every donation we receive.”

You can donate to Sam’s fundraiser here: https://www.justgiving.com/page/sam-faulkner-1712508280259?newPage=true&fbclid=IwAR2tyVVQVea0DLQelSsrp7Ie2CKjX0jXGnwndR_tBKL-Av2kv8f5nchEolw

For more details about the charity and how you can help support local NHS patients and staff, go to www.hywelddahealthcharities.org.uk

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Business

Dragon LNG explores integration of LNG and CO2 liquefaction processes

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DRAGON LNG, based in Waterston, Milford Haven, recently announced a significant step towards sustainable energy solutions.

The company awarded a contract to Worley, global professional services company of energy, chemicals and resources experts, to conduct a comprehensive feasibility study.

The study is focussing on exploring the potential benefits of integrating LNG (Liquefied Natural Gas)
regasification and CO2 (Carbon Dioxide) liquefaction processes at Dragon LNG’s facilities. This integration holds promise for a more efficient operation, with the potential to reduce energy consumption, carbon intensity and the levelized cost of CO2 export not only at the Dragon site but also for Haven industry companies.

If feasible, the technology at Dragon would support wider collaboration with RWE Pembroke Net Zero Centre, whose CO2 would be transported to the Dragon facility for processing before being shipped via non-pipeline transport (NPT) to carbon sequestration sites.

Key aspects to be addressed in the feasibility study include:

  • Technical Solutions: Worley will evaluate various technical approaches to seamlessly integrate LNG and
  • CO2 liquefaction processes, ensuring optimal energy efficiency and effectiveness.
  • Carbon Intensity Reduction: Dragon LNG is committed to sustainability, and the study will assess how the integration of processes can contribute to lowering the carbon intensity of operations, aligning with broader environmental goals.
  • Economic Viability: Understanding the financial implications is crucial. The study will delve into the levelized cost of CO2 and other economic factors to determine the feasibility and financial benefits of the proposed integration.

Commenting on the partnership, a spokesperson for Dragon LNG stated, “We are excited to collaborate with Worley on this important initiative. As a responsible energy provider, Dragon LNG is continuously seeking innovative ways to enhance our operations while minimizing our environmental footprint. This feasibility study represents a significant step towards achieving those objectives.”

Worley’s expertise in engineering and consultancy services including in the CO2 and LNG sectors makes them an ideal partner for this endeavour. Their track record of delivering sustainability solutions aligns perfectly with the ambitious goals of Dragon LNG.

This collaboration underscores Dragon LNG’s commitment to driving sustainable practices within the energy sector. By exploring the integration of LNG regasification and CO2 liquefaction processes, the company aims to pave the way for a cleaner, more efficient energy future with their ambition of a net zero terminal by 2029.

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