New EU fuel specs threaten 28 refineries

New European Union (EU) fuel specifications due in place in 2005 threaten the future of 28 European refineries, of which 17 are candidates for closure. This is the view of The Petroleum Finance Co. (Petro Finance), Paris, which said the large majority of European refineries will have difficulties meeting the 2005 specifications with existing equipment. The EU has slated two rafts of transport fuel specifications, the first due next year, for which refiners appear mainly to be prepared, and tighter regulations still in 2005, for which many of the limits to be specified have not yet been decided (OGJ, July 6, 1998, News- letter). Petro Finance said the specifications due in...

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