Total and others will shut down more refineries in Europe over the next few years because of a broad consensus to cut CO2 emissions and reduce consumption, the chief executive of the French oil major said on Sunday.
France's Rouen commercial court rejected in April two take-over offers for a French refinery owned by Swiss refiner Petroplus, a decision that led to the liquidation of the plant. Asked if more closures of refineries would follow in Europe in the next few years, Total CEO Christophe de Margerie said in an interview on RTL radio and LCI television: "Of course more refineries will shut down because consumption will shrink. Everybody wants consumption to shrink, public authorities, Europe and ourselves. If we all decide to cut consumption, we have to cut production." Asked if Total itself would close down refineries in Europe or France, he said: "Of course that will happen because in France as everywhere else we will continue to reduce consumption ... that will lead to a cleaner environment."
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