Low oil prices: an opportunity to downsize Downstream?
The refining segment supported the earnings of integrated majors during the recent decline in oil price. In a low oil price environment, the capability of European integrated majors to withstand losses from their Downstream sector is materially impaired, which could prompt the rationalisation of weak, stand-alone refining assets.
Table of contents
Role of Downstream
Changing Upstream Positions
Tables and charts
This report includes 4 images and tables including: