BARCELONA (ICIS)--EU policy makers should be realistic in issuing regulations affecting the refineries on the back of the debilitating conditions the sector is facing in the region, European trade association European Petroleum Industry Association (EUROPIA) said on Tuesday.
Alessandro Bartelloni, policy director at EUROPIA, said the EU’s share in the global export markets for energy intensive goods had decreased by 10% in 2013 whereas that of the US had increased 1%.
At the same time, China had captured the major share of refining capacity build up from 2013 to 2018 while the EU’s has seen an 8% decline in production capacity from 2008-2013, he added.
Warning on the difficulties the refining sector faces in Europe, Bartelloni said: “The refining sector is a key partner… A further decline in capacity exceeding the decline in product demand would make the EU economy even more vulnerable."
EUROPIA’s Bartelloni was speaking at the 8th Global Refining Summit taking place in Barcelona, Spain, on 1-2 April.
Among others, EUROPIA’s members include Europe’s leading oil companies accounting for almost 100% of the EU’s petroleum refining capacity and around 75% of the Union’s motor fuel retail sales.