PODCAST: Europe refineries, petrochemicals may close as demand fails to recover

Will Beacham

21-Sep-2020

BARCELONA (ICIS)–Refineries and downstream petrochemicals plants in Europe could close in the next 12-18 months, as demand for transport fuels fails to recover.

  • 1-2 refineries may close in Amsterdam-Rotterdam-Antwerp (ARA) region in next 12-18 months through lack of demand for transport fuels
  • Downstream chemical plants will also close
  • Switch to electric and autonomous vehicles will drive changes in the chemicals mix
  • China could become global leader in plastics recycling in 5-10 years
  • China’s demand for chemicals imports will fall if recycling takes off
  • China now dominates solar industry and could do the same for recycling technology
  • World Economic Forum says chemical industry can “build back better” after pandemic
  • Industry about to move beyond oil and petrochemicals
  • Chemicals majors should invest more in chemical technology start-ups

Listen to this podcast interview with Paul Hodges chairman, International eChem and author of the pH Report; John Richardson ICIS senior consultant, Asia and ICIS Insight editor, Nigel Davis.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS

Click here to listen to the podcast

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Read John Richardson’s Asia Chemical Connections blog

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Interview by Will Beacham

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