Vugar Amrullayev
Western governments are encouraging firms to increase refinery capacity to guarantee steady supplies of essential resources in future emergencies, yet investors hesitate to fund new initiatives, leading to upcoming challenges in both Europe and North America, the report highlights.
By 2026, refineries in the US and Europe are running close to full capacity as the sector faces challenges from shortages due to the Middle Eastern conflict and aims to produce substantial profits.
S&P Global Energy reports that European refinery capacity is expected to decrease by 20% over the next decade, reaching just above 9 million barrels per day (bpd) by 2035. In 2025, European refineries with an overall refining capacity of about 500,000 bpd were shut down, while the UK, for instance, lost two out of its six refineries.
S&P Global Energy anticipates that US capacity will decrease by 7% during this timeframe, reaching 16.7 million bpd.
source: ft.com
By 2026, refineries in the US and Europe are running close to full capacity as the sector faces challenges from shortages due to the Middle Eastern conflict and aims to produce substantial profits.
S&P Global Energy reports that European refinery capacity is expected to decrease by 20% over the next decade, reaching just above 9 million barrels per day (bpd) by 2035. In 2025, European refineries with an overall refining capacity of about 500,000 bpd were shut down, while the UK, for instance, lost two out of its six refineries.
S&P Global Energy anticipates that US capacity will decrease by 7% during this timeframe, reaching 16.7 million bpd.
source: ft.com
