February 2003

Columns

HPIn Europe: Refining uncertainty into the future

The refining industry is continuing to endure a tough time and, for the foreseeable future, this picture does not look like changing, certainly in Europe. In addition to the pressures, ..

Pitt, R., European Refining & Marketing

The refining industry is continuing to endure a tough time and, for the foreseeable future, this picture does not look like changing, certainly in Europe. In addition to the pressures, such as refining overcapacity, that have been affecting this sector for some considerable time, there are now the additional geopolitical pressures of the strike in Venezuela and the continuing threat of war in the Middle East, with their effects on the cost and availability of crude oil. These factors have had a considerable impact on the financial performance of the oil companies' downstream sectors. If you look at the specific effect on

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