French refining feels the squeeze
Tougher economics could spark another rationalisation in the sector
The impact of the Covid-19 pandemic has seen European refining margins turn negative for the first time since the IEA began tracking them in 2006. After milder conditions in the second half of the 2010s, France’s refining sector could again see casualties such as it experienced in the 2009-12 period. Back then, a third of the country’s 12 existing facilities stopped refining, although infrastructure was mostly repurposed as product storage. Closure of the Mardyck, Reichstett, Berre L’Etang and Petit Couronne plants removed a combined capacity of almost 400,000bl/d. European refineries, including those in France, have since benefitted from sustained lower crude prices post-2014, robust global
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
