We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 


Global refinery closure threat update – 1 in 20 at high risk

Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

13 August 2021

Global refinery closure threat update – 1 in 20 at high risk

Report summary

The impact of Covid-19 pandemic on oil demand and refining margins resulted in a tidal wave of industry rationalisation. While we expect refining margins to recover from the lows of 2020, refining margins post-2027 are projected to soften as the energy transition results in declining demand. There are a number of refineries that are projected to still be cash negative in 2027, so at threat of rationalisation. In this refinery closure analysis update, we have enhanced the methodology to reflect the truly global nature of the refining industry. Major enhancements include the assessment of a list of global refineries, the petrochemical contribution from our new REM-Chemicals offering and the change in net cash margin post-investment.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Global Refinery Closure Threat Update.pdf

    PDF 1.68 MB

  • Document

    Global Refinery Closure Threat Update.xlsx

    XLSX 194.19 KB