Related Articles
Forward article link
Share PDF with colleagues

Bulging product stocks pressurise refinery margins

Profits for processing crude into refined products have fallen far from last year’s highs. Europe in particular is feeling the pressure

REFINING margins across the globe are under pressure, buckling under the weight of bloated stocks. Last year's slump in Brent prices was especially good for European product owners when margins rebounded after years of weakness. But now cracking margins across the globe are under pressure and European refineries in particular are struggling to make processing crude in products pay. Margins are the weakest in the Mediterranean. Profits for processing Es-Sider into refined products slumped to just $1.36 a barrel ($/b) for the week ending 29 July, data published by investment bank BNP Paribas show. That's down from $3.59/b at the beginning of June and compares to an average of $3.08/b in Q1 a

Also in this section
Qatar hits the gas
8 December 2017
Despite, or perhaps because of, the economic blockade, Qatar plans to expand LNG production by 30%
Cove Point boosts US LNG exports
7 December 2017
A second facility will start supplying the fuel to international markets as American liquefied gas shipments gather pace
Latin America's LNG slowdown
7 December 2017
A few years ago, gas exporters thought the Southern Cone would become a huge new market. Not likely