From: Irish Independent
After a year of respite from bankruptcies, protests and closures, Europe’s oil refining industry is cracking again under the pressure of ferocious global competition and shrinking domestic demand.
Here in Ireland the future of Whitegate Refinery hangs in the balance. Elsewhere, it is a similar picture.
The decision this month to shut a small refinery in northern Italy and the possible closure of a major plant in Scotland signal that a new wave of closures in the sector is coming – even faster than the industry had expected.