Home › Forums › Refining Community › Refinery News › Europe’s refineries face ‘further turmoil’ › RE: Europe's refineries face 'further turmoil'
Here is Update from F&S via OGJ on EU refineries (news link forwarded by CRU contact).
F&S Article Does good job tying in EU financial problems (Petroplus example) to daily cash needs & refinery upgrade project finance. Also the big impact due loss US gasoline export market and its impact on EU utilization and EU higher diesel demand levels having to go imports. The potential loss of 40% of its smaller 104 refineries where most are in need of upgrade for more crude flexibility & higher product quality at time tough competition from expanded Russia & Pacific export refineries.
Some things not mentioned were big reduction of regional North Sea crude supply, drastic reduction in population (EU Depopulation Demographics) and shift of not just EU but World back to Diesel economy from US supported Gasoline export market which supported higher global utilizations.