ERTC Advisory Board Meeting: Takeaway One
European refiners and producers need to develop new strategies to survive fierce competition from the US and Middle East
Back in February, the ERTC Advisory Board met to discuss the key challenges currently facing the European downstream industry; with regulations tightening and CAPEX ever rising, it was noted that European refiners face an on-going challenge of competing with their US and Middle East counterparts. Refiners operating within the European Union are increasingly placed at a disadvantage in comparison to global players who face far less stringent regulations. In such a market, careful investment in innovative technologies and strategies is required in order to survive. Unable to compete globally on commodities, the future for Europe is no doubt the creation of more speciality products to drive opportunities and margins.
See the Advisory Board members here: http://bit.ly/2sd45a7 and stay tuned for further takeaways from the meeting