The European Refining Crisis: What is at stake for Europe?
The European Refining sector is in crisis. The wave of refineries closures has spared no EU Member States.
In less than five years, eleven refineries were simply shut down and no less than seventeen changed their ownership in the UK, in France, in Germany, in the Netherlands, in Sweden or in Spain. As closure is a last resort measure, given its high costs, this gives an indication of the situation’s seriousness.
The present situation reflects more than just the widespread effects of the economic crisis. If the sector has always been known as cyclical, the change however comes from the shift in demand and trade patterns for oil products. In the ongoing globalization of the oil market products, Europe appears to be the most vulnerable piece and this raises questions as regard the European security of oil product supplies.
Available in:
Regions and themes
ISBN / ISSN
Share
Download the full analysis
This page contains only a summary of our work. If you would like to have access to all the information from our research on the subject, you can download the full version in PDF format.
The European Refining Crisis: What is at stake for Europe?
Author(s)
Related centers and programs
Discover our other research centers and programs
Center for Energy & Climate
Ifri's Energy and Climate Center carries out activities and research on the geopolitical and geoeconomic issues of energy transitions such as energy security, competitiveness, control of value chains, and acceptability. Specialized in the study of European energy/climate policies as well as energy markets in Europe and around the world, its work also focuses on the energy and climate strategies of major powers such as the United States, China or India. It offers recognized expertise, enriched by international collaborations and events, particularly in Paris and Brussels.
Find out more
Discover all our analyses
Unlocking India’s Energy Transition: Addressing Grid Flexibility Challenges and Solutions
India is rapidly scaling up its renewable energy (RE) capacity, adding 15–20 GW annually, but the ambitious goal of 500 GW of non-fossil capacity by 2030 is at risk unless the pace accelerates.
Europe’s Black Mass Evasion: From Black Box to Strategic Recycling
EV batteries recycling is a building block for boosting the European Union (EU)’s strategic autonomy in the field of critical raw minerals (CRM) value chains. Yet, recent evolutions in the European EV value chain, marked by cancellations or postponements of projects, are raising the alarm on the prospects of the battery recycling industry in Europe.
The New Geopolitics of Energy
Following the dramatic floods in Valencia, and as COP29 opens in Baku, climate change is forcing us to closely reexamine the pace—and the stumbling blocks—of the energy transition.
Can carbon markets make a breakthrough at COP29?
Voluntary carbon markets (VCMs) have a strong potential, notably to help bridge the climate finance gap, especially for Africa.