Europe’s Greatest Oil Refinery Shut Down After Hearth

Shell’s Pernis refinery in Rotterdam, the most important in Europe, has been partially shut down after a brief circuit brought about a major hearth on Sunday. Deutsche Welle quoted a Shell spokesman as saying there were no casualties. The corporate is currently assessing the harm to establish when the refinery shall be brought back online.

semi-tubular reactorReuters quoted an organization assertion to traders from Sunday as saying all loadings of fuels from the 404,000-bpd Pernis facility have been suspended immediately they usually have been likely to remain suspended at the moment as properly. The shutdown of the refinery ought to push up the costs of gasoline, diesel, and jet gasoline in northwestern Europe.

The Shell spokesperson advised AFP the corporate was now shutting down all models of the refinery, as they are all interconnected and several are out of operation due to the facility outage attributable to the hearth. He instructed the shutdown might continue for days, saying that it normally takes “hours, and even a number of daysto convey issues again to regular after a shutdown.

That is the most recent in a string of refinery problems that have boosted refining margins in Europe to their highest since November 2015. Total’s 240,000-bpd refinery in Leuna, Germany, was shut down for longer than initially deliberate earlier this yr and this pushed up demand for diesel in the nation. In Greece, final week Hellenic Petroleum declared force majeure on its one hundred,000-bpd Elefsina refinery, suspending diesel exports.

Last week, Shell introduced a triple improve in web earnings attributable to shareholders for the second quarter of the yr, to US$3.6 billion. The outcomes had been attributed to higher oil prices that pushed up oil product prices up as properly, and to cost effectivity improvements. Downstream earnings improved by 39 percent to US$2.5 billion, but the bulk of this improvement came from chemicals production quite than fuels.

By Irina Slav for Oilprice.com

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