Related Articles
Europe’s refineries remain under pressure
Forward article link
Share PDF with colleagues

Europe’s refiners set for more pain

While the end of lockdowns may offer some respite, further consolidation looks inevitable

Refineries in Europe already seeing a new wave of temporary or permanent closures face further shutdowns even as the continent’s Covid-19 vaccination response offers slightly better times ahead. A pandemic-driven demand collapse hammered 2020 profits for most refiners and continues to weigh on margins. “Close to half a million bl/d of crude distillation unit (CDU) capacity closure has been announced”, says Eleanor Budds, downstream research and analysis director at consultancy IHS Markit. In Europe, “we are expecting a further 1mn bl/d at least by 2025,” she continues. Demand slump Transport fuels have been particularly hit from lockdown restrictions on personal mobility and economic weak

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Gas at the heart of Iraq’s transition
21 October 2021
While oil has grabbed the headlines for Iraq, tapping its gas potential could transform the country’s economic fortunes
Petrobras’ downstream dilemma
21 October 2021
President Bolsonaro considers privatising the NOC as fuel prices climb and divestments drag
Corallian seeks bidders
21 October 2021
The pre-production North Sea independent has put itself up for sale
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video