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Europe may be cut further refining capacity
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[China, Shanghai Published:2013-01-11]

Total as Europe's largest oil refiner, closed in 2010 after the Dunkirk refinery, continue to shut down oil refinery to reduce refining capacity in excess of discussion. The International Energy Agency ( IEA ) in April of this year is expected to close 2300000 barrels / day in 2016 before the refining capacity to make the oil market balance of supply and demand.

Recently, total responsible for development and research strategy, senior vice president Nathalie Brunelle said, the European refining industry still need to shut down 1000000 barrels / day refinery capacity, in order to make the remaining oil refiners, will start to return to the historical average.

Brunelle said the global refining summit held in Barcelona, most European refineries are designed to maximize the production of gasoline, and the current European oil market demand has changed, the market needs more diesel.

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