Meanings of european refining in English

Even if the Petroplus plant were decommissioned, European refining economics would remain challenging.

In recent years, Russian oil producers have eyed European refining assets to process their crude.

Asked about consolidation in the European refining market he said: We will see some consolidation.

That is one million bpd of European refining that will need to close, Kleinman said.

European refining company Ineos is close to a settlement with Chinese state-owned oil group Sinopec.

The frail state of the European refining industry also means that all but the strongest plants are vulnerable.

European refining margins remain under pressure because of over-capacity and increased competition from the Middle East and Asia.

He added Rosneft was also looking into French oil major Total's TOTF.PA proposals to buy into its European refining business.

The European refining sector has been struggling for several years due to poor margins and weak demand for fuel products.

The European refining sector, particularly hard hit, has entered a new phase of closures and run cuts after a brief respite.

That helped European refining margins to surge to the highest level since late 2008 in June, according to energy consultancy Wood Mackenzie.

I believe that significant portions of the European refining business probably need to close over the next three or four years, he said.

Goldman upgraded the European refining sector to "neutral" on the back of increased diesel demand, supported by higher economic activity in 2010.

The loss of 4.4 percent of European refining capacity would tighten the market there and possibly draw imports from the United States, analysts said.