EU refineries prepare for life without Russian crude
European refiners have strong incentives to adapt to the technological and logistical challenges of the continent turning away from Russia
European refineries are racing to secure alternative supplies and reconfigure their operations ahead of the start of the EU’s ban on seaborne Russian crude imports on 5 December. The refiners are incentivised by record-high margins for diesel and other products, as well as the looming ban on imports of Russian refined products from 5 February. Nevertheless, considerable logistical and technological challenges remain. The G7 countries announced an unspecified price cap on Russian oil shipments in early September as a kind of addendum to the decision to cut out Russian crude imports. However, traders and refiners alike report confusion in the markets as to the precise parameters of the restric
Also in this section
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026