Refiners should expect the unexpected
Trend spotting is easier said than done in the refining sector
Refiners will need to be nimble to survive in a world of reduced demand for fossil fuels from the transport sector and those plans need to be put in motion now if they are to survive. Mol is a case in point. Around 70% of the company's output from its refineries in Hungary, Croatia and Slovakia, which mainly serve central European markets, is refined products for the transport sector. By 2030, the company plans to increase its non-fuel production, largely targeting the petrochemicals industry, to 50% of total output, compared with the current 30%. "This does not mean we will destroy our capability to produce diesel and gasoline [if margins stay high]," says Ferenc Horvath, head of the compan
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
