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UKPIA comments on the future of oil refining

PRESS RELEASE 10 May 2012

At the Platts Annual European Oil Storage Conference held in Amsterdam on 10 May 2012, Chris Hunt, Director General of UKPIA outlined some of the major challenges facing the oil refining sector in the UK and the rest of Europe. These issues will also be discussed when the Energy Ministers of EU Member States, together with industry representatives, meet the EU Energy Commissioner on 15 May at the Refining Round Table meeting in Brussels.

Chris Hunt commented: “There is a real opportunity for joined up thinking on policy direction around the long- term sustainability of European refining when EU Energy Ministers meet the Commission on 15 May. UKPIA urges all participants to make a determined effort to agree a set of initiatives that lead to real action and not merely passive monitoring.”

He added: “If the governments of Member States are sincere in wanting a robust European refining industry that continues to deliver quality employment, energy supply resilience and feedstocks for chemical, bitumen and other key industries, they must be proactive in developing policy that creates a level playing field for this vital energy sector against its global competitors.”

Ends

Enquiries to: Nick Vandervell, UKPIA Tel. 020 7269 7604

Notes to editors:

  1. UKPIA represents nine oil refining and marketing companies that operate 7 of the 8 major oil refineries in the UK; the refineries processed 73 million tonnes of crude oil and produced 75.4 million tonnes of refined products in 2010 (Source: DECC- DUKES data). UKPIA members also own around 1,900 of the 8,700 filling stations in the UK.
  2. The Round Table on refining was convened by Energy Commissioner Gunther Oettinger in response to the serious challenges facing the EU oil refining industry, highlighted by the insolvency of Petroplus in January 2012. The Round Table will seek to develop a common understanding of these challenges, look to national plans and recommendations, and assess the need for coordinated action at EU level.
  3. An outline of the major challenges facing the UK oil refining sector, are set out in UKPIA’s recent publication “Fuelling the UK’s future- the role of our refining and downstream oil industry”. See www.ukpia.com/publications.aspx

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