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.
As a key contributor to the EU’s economy, the refining industry in Europe should be enabled to compete on a level playing field with other global actors. Thus, policy action taken by the EU should set targets whilst avoiding distorting the market and allow the market to determine the best way to reach them, create conditions for a competitive...
Today, refineries are a vital part of Europe’s industrial base. By providing jobs, revenue, petroleum products, chemical raw materials, security and innovation, Europe’s refineries are a key component of a competitive future for Europe.
Petrochemicals, derived from oil and natural gas, feed the industries that make the products we all use in our every day lives.