Exxon’s Antwerp Revamp Goes Against Tide of Closures

摘要

Exxon Mobil’s announcement that it will spend more than $1 billion on a new coker at its Antwerp refinery in Belgium goes against a swelling tide of refinery sales and closures in Europe. Italian refiner Eni was last week rumored to be pulling the plug on its Gela refinery in Italy while the future of US Murco’s Milford Haven plant in the UK is still uncertain. Exxon is not alone in spending-to-survive as another cull of European refining capacity looms large but it’s hard to see much long-term support for the sector. David Wech, managing director of JBC Energy in Vienna, reckons 1 million-1.5 million barrels per day of European capacity needs to close in the next three years (JFI Jul.7’14).