Questions remain over security of supply for European refining
Europe’s refining sector struggles to adapt
Aftershocks from Russia’s invasion of Ukraine continue to roil refining and flows of products around Europe, in the Atlantic basin and across the world
Russia’s invasion of Ukraine has resulted in significant disruption for the Atlantic basin refining sector. Europe’s refineries have already turned away from Russian crude, feedstocks and products amid widespread self-sanctioning and looming embargoes, but questions remain over security of supply. And there are now huge opportunities for refining centres further afield, particularly the rapidly expanding sector in the Mideast. “We expect the current tightness in global refining capacity to continue through winter,” says George Dix, refining analyst for consultancy Energy Aspects. This will be the case "particularly for diesel” due to the European embargo on Russian supply from February 2023,
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
