How can refineries ensure survival?

    • How can refineries ensure survival?

      The European refining industry has seen a number of plant closures in recent years and more may well follow. According to the Wall Street Journal, “Fifteen European refineries have shut down since 2008, idling 8% of the region's fuel-processing capacity, while many others are running at reduced capacity.”

      As the risk of fuel-supply disruptions heighten, fuel security has become a more important topic in government policy agendas. Regulators need to find a balance between the need to import fuel and potential higher prices for consumers.

      The European refinery plant survivors will have to be leaner, more efficient and more able to adapt to changing market needs. A strong focus on building and maintaining their relative competitive advantages is vital to help ensure their survival today and profitability in the future.

      World Oil and Gas News