A major shift toward cleaner energy solutions could soon be sweeping across Europe as oil refineries adapt to survive in our changing world, per industry leaders who gathered at the Financial Times Commodities Global Summit in Lausanne, Switzerland, in March. According to these experts, refineries will soon face a choice: Evolve into biofuel producers, embrace electrification, or risk closure in the coming decade.
Such a big change is in the works because electric vehicle adoption reduces demand for traditional fuels and companies are investing heavily in alternative fuels, creating a clear path forward for an industry in transition.
European refineries won't simply disappear, though — they'll transform into something better. "In 10 years' time, most refineries will have gone down either a biorefinery route … or they will have done electrification and fuel switching to low carbon hydrogen, low carbon fuel," Ruth Herbert, director at Essar Energy Transition, said in a recent article by Reuters.
The development of more biofuels and alternative energy sources will create new jobs while helping reduce our collective dependence on oil. These reconfigured refineries will produce cleaner fuels that power our vehicles while producing less pollution, helping our communities breathe easier and healthier.
The industry recognizes this transformation requires adaptation. Antonio Joyanes of Spain's Moeve noted that refineries "will have to get used to a fuel mix comprising e-fuels, fossil fuels, and biofuels," highlighting how facilities must evolve to process more diverse offerings.
This pivot mirrors the broader clean energy revolution happening worldwide. The renewable energy sector continues to outperform many traditional energy investments while creating stable, well-paying jobs across communities.
Major corporations have embraced this shift, with companies including Ikea pledging to transition to an all-EV delivery fleet in India, demonstrating how sustainability and smart business strategies work together.
As Jay Gleacher, investment director at Vitol, predicted, "I think you'll see more consolidation in the sector [by 2035]." This points toward a more efficient, cleaner energy future for Europe and could serve as a model for the global energy transition.
|
Do you think America could ever go zero-waste? Click your choice to see results and speak your mind. |
Never 👎 
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
