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MANAGING EDITOR
James Little
EDITOR
Claira Lloyd
EDITORIAL ASSISTANT
Emma McAleavey
ADVERTISEMENT DIRECTOR
Rod Hardy
ADVERTISEMENT MANAGER
Chris Atkin
ADVERTISEMENT EXECUTIVE
Will Powell
PRODUCTION
Chloe Ozwell
WEB MANAGER
Tom Fullerton
WEB EDITOR
Callum O’Reilly
CIRCULATION MANAGER
Victoria McConnell
SUBSCRIPTIONS
Laura Cowell
OFFICE ADMINISTRATOR
Jo Repton
CONTRIBUTING EDITORS
Nancy Yamaguchi Gordon Cope
PUBLISHER
Nigel Hardy
I
amwriting this just after attending the 19
th
ERTC and out of all
that was said in the presentations and discussions I attended
there is one phrase that sticks in my mind, ‘after the rain comes
the sun.’ Paulo Carmona, ENMC National Authority for Fuel
Market President, said this, not only in relation to the weather
in Lisbon (which wasn’t great) but Europe’s refining sector. We all
know that Europe’s refining industry isn't having the best time at the
moment, but, according to Carmona and others at the event, there
is light at the end of the tunnel.
First of all, let’s look at the bad news. The refining industry
in Europe used to be considered one of the most profitable
businesses to be in, and in many countries such as the US it
still is. Unfortunately this is also the case for many emerging
markets, which are providing Europe’s refineries with a lot of stiff
competition. More bad news is that a lot of oil companies are
now examining their refining portfolio, in Europe in particular, and
redefining their business which in many instances is leading to
the sales and conversions of refineries, as well as facilities being
mothballed and shutdown. Also, the changes in the market, not only
in Europe, but around the world, are likely to be in place for some
time to come, and in many instances, they are not all that beneficial
to Europe.
But, I’m going to move on quickly and look at what positives
there still are in the industry, which will hopefully lead us through
the rain and towards the sun. Refined products are expected to
remain key in the European energy mix for some time to come, so
Claira Lloyd
Editor
of course, refineries will still be needed
domestically as Europe can’t rely 100%
on imports. Secondly, those that adapt
survive, and as the crude slate changes
and European consumer demand shifts
towards distillates, refineries throughout
the continent are listening and making
changes. And there are a fewmore reasons
that Europe can feel confident about its refining sector, which were
passionately pointed out by Galp Energia’s CEOManuel De Oliveria
also at the ERTC. He said that Europe is home to some of the most
talented, skilled and competent engineers in the refining sector, so
obviously, despite the current troubles, there is the knowledge within
the industry to keep it afloat and active. Also, De Oliveria pointed
out that refining is one of the most complex industries in Europe.
It not only provides much needed products but it also supports
other industries, provides direct and indirect jobs and supports the
economy as a whole through taxes, so it is not a sector that can be
easily abandoned and ignored, it is not a business system that can
be closed down and neglected lightly. So it seems that despite the
current problems, Europe’s refining sector may yet pull through and
with people such as De Oliveria and Carmona in its corner to fight, we
definitely can’t give up yet.
As this is the final issue of the year I’d like to take this
opportunity, on behalf of the entire
Hydrocarbon Engineering
team,
to wish you a joyful festive period and a happy and healthy new year.
We will be back in 2015, with what we hope will be an exciting year
for all of us at the magazine and for you the reader.
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