Gibson Tanker Market Report

Refinery Rationalisation

 

Refinery rationalisation is back on the agenda. With a prolonged weakness in refinery margins due to Covid-19 related demand destruction and an uncertain future for hydrocarbon consumption, many refiners have decided to throw in the towel, choosing to either sell, close, or convert their refining assets. The impact is not just in Europe, but global. Aging capacity in the United States, Asia and Australia is also under threat.

2020 08 28 Refinery Rationalisation

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