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POLL FINDINGS: Indian refiners poised to win market share amid Petroplus woes in Europe

01.30.2012  |  Ben DuBose,  Hydrocarbon Processing, 

Keywords: [refining] [poll findings] [India] [Petroplus] [Europe]

Downstream Indian producers have the most to gain from ongoing refining woes in Europe, according to a recent poll of Hydrocarbon Processing readers.

Earlier this month, Petroplus shut down operations at sites in Petit Couronne, France, Antwerp, Belgium and Cressier, Switzerland.

The absence of that production means that Europe will have to import additional refined products to meet demand, opening up market share for international producers.

In the poll, 55% of readers said India was the region likely to find the most success in that scenario.

The Middle East was second at 24%, with the US a close third at 20%.

Petroplus is Europe’s largest independent oil refiner and wholesaler, but it continues to struggle at getting lenders to unfreeze its credit lines.

The company recently said that the Petit Couronne refinery is up for sale, while it continues to examine “strategic options” for the other two.

To see more details on this poll as well as access prior Hydrocarbon Processing poll results, click here.

(Editor’s note: Polls are where we at Hydrocarbon Processing gather industry sentiment on significant issues of the day. Visit the HP home page to weigh in on our latest poll regarding the fate of the proposed Keystone XL oil pipeline in the US.)

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