December 2009

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HPIn Europe: Forecast for Europe: Bankers get richer as old refiners fade away

It may have been the banking industry that paved the way into the present global downturn. But it is European refineries that will be shutting up shop, and there's no government rescue waiting in the ..

Wright, Tim L., Hydrocarbon Processing Staff

It may have been the banking industry that paved the way into the present global downturn. But it is European refineries that will be shutting up shop, and there's no government rescue waiting in the wings for them. How bad is it? For perhaps one in five of the refiners attending this year's European Refining Technology Conference in Berlin, the quest for optimizing operations has been replaced on with the question of how we (the refining industry) will survive these turbulent times. Running on empty. Credit Suisse's European refining margin at a few pennies over $4/bbl, not only suggests that refining's golden age is a pre-credit crunch memory, but that many sites are running on empty. Th

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