Insight
European refining networks rationalise
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Covid-19 outbreak continues to heap pressure on European refiners as further lockdown protocols and loss of liquid demand keep refining margins depressed. At the end of 2020, the pandemic started to take its toll. Both Neste and Galp announced that their respective hydroskimming refineries at Naantali and Porto were to cease refining operations from 2021. However, these refineries have been operating with a negative Net Cash Margin (NCM) even prior to the Covid-19 pandemic, as shown by our European 2019 NCM analysis. So, what has kept these poorer performing assets running until now? Using Wood Mackenzie’s Refinery Evaluation and PetroPlan models, we analyse the fundamentals behind these site closures as well as looking at who could be next...
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Asset Report
Gassled-Zeepipe
Zeepipe is a major gas transmission system from the Norwegian northern North Sea to the European continent.
$2,580
Insight
Europe power long-term scenario: Prevailing Pressures
The Prevailing Pressures scenario explores a reduction in the pace of offshore wind growth.
$5,000
Asset Report
Gassled-Zeepipe Terminal Zeebrugge
The Zeebrugge terminal receives gas, via Zeepipe, from fields such as Troll and Sleipner.
$2,580
