As much as 3.6 million barrels a day (mmbd) of global refinery capacity has been assessed as being under high-risk of closure, according to Wood Mackenzie’s latest refinery closure threat analysis. The report ‘Global refinery closure threat update’ shortlists 120 out of 465 refining assets as high, medium, or low risk of closure based on 2030 net cash margin (NCM) forecasts. The total global refinery capacity at some risk of closure amounts to 19.95 mmbd, equating to 21.3% of the 2023 total capacity. Most of the sites identified in the report as high-risk are located in Europe with the continent making up 45% of the ... (full story)