European refining margins drop 85%

Our major Feedstocks for Profit Study last year foresaw difficult times ahead for European refiners. Now it seems this forecast by our partners, refining experts Wood Mackenzie, is coming true.

Total, Europe’s largest refiner, today reported that European refining margins fell 85% in Q3, to just $6.60/bbl, the lowest level for 7 years. And they note that demand for oil products is falling, as the economy remains slow and consumers cut back on travel.

Wood Mackenzie will give their latest insights at our European Aromatics & Derivatives Conference next month in Amsterdam, co-organised with ICIS. Attendees will also hear from several leading industry experts including speakers from BASF, Shell and Reliance.

Please click here for further details.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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