Group 1 - The UK refining industry is experiencing its most significant contraction in decades, with the closure of the Grangemouth refinery and the bankruptcy of the Lindsey refinery, leaving only four major refineries operational in the UK [1] - The UK refining sector primarily processes light, low-sulfur crude oil, focusing on gasoline production, but is facing challenges due to a shift towards diesel vehicles and increasing imports of diesel fuel [1] - The UK’s net-zero strategy aims to phase out new petrol and diesel car sales by 2030, putting additional pressure on domestic refineries and raising concerns about their viability [1] Group 2 - The slower-than-expected energy transition in the UK may provide some breathing room for refineries, as high electric vehicle costs and geopolitical influences on battery materials could lead consumers to retain diesel vehicles longer than anticipated [2] - If demand for diesel does not decline as quickly as expected, the UK refining industry may still have a chance for survival, although forced electrification could lead to the closure of remaining refineries [2]
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Zhong Guo Hua Gong Bao·2025-09-23 02:51