Rationalization process in the refining sector of the European Union in the context of activities aimed at restoring the competitiveness of refineries

• Autorzy: Białek M. , Gross-Gołacka E. , Kaliski M.

Identyfikatory

DOI

10.7494/drill.2014.31.1.39

• Języki publikacji: EN

Abstrakty

EN

Analysis of factors shaping the market environment the oil sector in the European Union leads to the conclusion that the main elements having an impact on the profitability of refinery operations include their complexity index, access to a particular slate of crude oil, supply infrastructure (land premium, supply side, etc.) as well as laws and regulations regarding this very industry (both EU and national legislation). It should be emphasized that on the one hand European refiners compete against each other on national markets (including the EU market), on the other hand, however, they are vulnerable to competitive activity of refineries from outside of the European Union. Recent years clearly outline the downturn in the oil refining sector of the EU, that is manifested by idling the refineries, changes in their base model activity (conversion into the fuel and crude oil storage sites), or at best sector acquisitions by foreign companies (mainly from the Russian Federation). The progressive loss of capacity of oil refining on the Old Continent will cause significant changes in the energy security of fuel supplies, which simply, will have to be imported from abroad in the foreseeable future. In order to counteract the negative developments in the market, refineries affiliated with professional organizations (such as EUROPIA, Concawe) have taken an action in co-operation with the European Commission and the International Energy Agency aimed to develop the so-called pilot - horizontal control of refining sector efficiency (fitness check) involving the review of existing EU law. The purpose of this activity is to identify unnecessary burdens and unintended, negative impact of existing EU law on the sector. In line with the European Commission plans, the results of a fitness check are to be published in late 2014, yet the new non-legislative and legislative initiatives of the EU should take into account the context of the restoration of refinery competitiveness.

Słowa kluczowe

EN

crude oil prices; refining sector; European Commission; competitivness

• Wydawca: AGH University of Science and Technology Press
• Czasopismo: AGH Drilling, Oil, Gas
• Rocznik: 2014
• Tom: Vol. 31, no. 1
• Strony: 39--48
• Opis fizyczny: Bibliogr. 20 poz., wykr.

Twórcy

autor

Białek M.

• Ministry of Economy, Warsaw, Poland

autor

Gross-Gołacka E.

• Ministry of Economy, Warsaw, Poland

autor

Kaliski M.

• AGH University of Science and Technology, Faculty of Drilling, Oil and Gas, Kraków, Poland

Bibliografia

• [1] US Energy Information Administration, eia.gov
• [2] Brent Crude, Wikipedia, http://en.wikipedia.org/wiki/BrentCrude
• [3] US Energy Information Administration, eia.gov
• [4] US Energy Information Administration, eia.gov, International Energy Agency, Oil Market Information 2013.
• [5] COUNCILDIRECTIYE2003/96/ECof27 October 2003 restructuring the Community frameworkfor the taxation of energy products and electricity, http://eurlex.europa.eu/ LexUriServ/LexUriServ.do?uri=OJ:L:2003:283:0051:0070:EN:PDF
• [6] Proposalfor a COUNCIL DIRECTIYE amending Directive 2003/96/EC restructuring the Community framework for the taxation of energy products and electricity 13.4.2011 COM(2011) 169 finał
• [7] 'O/7 hits a record above 147 USD', reuters.com http://www.reuters.com/arti-cle/2008/07/11/us-markets-oil-idUST14048520080711
• [8] 'OPEC head warns against oilprice volatility', Financial Times, 21.01.2012, www. ft.com/cms/s/0/ebf39a84-4c1d-11e1-98dd-00144feabdc0.html
• [9] U.S. Commodity Futures Trading Commission, Dodd - Frank Act, http://www.cftc. gov/lawregulation/doddfrankact/index.htm
• [10] Proposalfor a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on indices used as benchmarks infinancial Instruments and financial contracts 18.9.2013 COM(2013) 641 final
• [11] http://www.platts.com/regulatory-engagement oraz http://www.argusmedia.com/About-Argus/Press-Releases/2013/Danger-to-European-energy-market
• [12] '0/7 boss urges overhaul of Brent oil price benchmarks', BBC News, http://www.bbc. com/news/business-26251395
• [13] Subject: Summary and conclusions of the second meeting of the EURefining Forum held on the 27th of November 2013, European Commission. http://ec.europa.eu/energy/observatory/oil/doc/refirting/20131127_2nd_meeting_conclusions.pdf
• [14] COMMUNICATIONFROMTHECOMMISSIONTO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE ANDTHE COMMITTEE OF THE REGIONS A Stronger European Industry for Growth and Economic Recovery 10.10.2012 COM(2012) 582final
• [15] Joint research Centre, Progress on Refining Fitness Check, Second Meeting of the EU Refining Forum 27.11.2013, http://industriall-europe.eu/Sectors/Energy/2013/ Eder%20%20Fitness%20Check%20EU%20Refining%20Forum%2027%2011%202013% 20final.pdf
• [16] Energy and Climate Goals for 2030, http://ec.europa.eu/energy/2030en.htm
• [17] Communication 'A policy frameworkfor climate and energy in the period from 2020to 2030" [COM(2014) 15]
• [18] Europia Press Release, Commission proposals on the 2030 energy and climateframework should have taken into account past experience: overlapping targets and unilateral GHG ambition is not the winning combination for a competitive EU economy, Brussels 22 January 2014, https://www.europia.eu/content/default.asp?PageID=412&DocID=41133
• [19] IEA Medium Term Oil Market Outlook 2013.
• [20] Nad morzem powstanie bardzo nietypowa koksownia?', wnp.pl, 4.02.2014, http:// nafta.wnp.pl/nad-morzem-powstanie-bardzo-nietypowa-koksownia,217507_l_0_0. html