June 2018

Columns

Refining: German refining industry on the verge of consolidation and production cuts

Germany produces very little domestic oil and natural gas, and relies on imports to meet 95% of its oil consumption.

Gerden, E., Contributing Writer

Germany produces very little domestic oil and natural gas, and relies on imports to meet 95% of its oil consumption. Despite its lack of natural resources, the country is the third-biggest refiner in Europe, after Russia and Italy. However, the German refining industry is on the verge of consolidation and production cuts this year due to ever-tightening environmental requirements in the EU and tougher competition from Indian, Asian and Russian refiners. German refineries have historically relied on crude oil from Russia/CIS (35%), the North Sea (32%), the Middle East (18%) and North and West Africa (15%). However, recent decreases in North Sea production require many German refineries to so

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