Refineries are a vital part of Europe’s industrial base, providing economic benefits, essential products and security of supply. The industry is a driver of innovation and is crucial to a low-emission economy.
Europe’s refineries are a key component of a competitive future for Europe and will evolve to meet society’s changing needs. We are retooling our refineries to reflect projected demand trends and the shift toward lower-emission economies.
Due to excess global capacity, shifting fuel demand patterns, high costs and a regulatory burden comprising numerous laws at a local, national, and EU level, the European refining industry today is not globally competitive. But there is ongoing and long-term value in refineries. If appropriate measures are taken, Europe can remain competitive and...
Pragmatic policy is needed to maintain the world’s highest standards in Europe without risking European competitiveness.