The Latest Issue of IENE’s «Market Insight» Focuses on the Refining Sector in SE Europe

The refining sector in SE Europe and beyond is the subject of the current double issue of IENE’s electronic newsletter "S.E. Europe Energy Brief - Market Insight” (No. 66,July/ August 2012), which has just been sent electronically to all members and associates of the Institute. The development of refining sector in the region is of crucial importance due to the escalating oil prices and the shrinking of demand in the EU, as a result of the eurozone crisis.

This issue of IENE’s "Market Insight” examines the situation from both its global and regional perspective. It proceeds with the in-depth analysis of the reasons that have led recently to the sharp decline of the European refining sector and also describes the current situation in SE Europe. According to this special "Market Insight” report, the situation of the sector in Europe can be an opportunity for SE European countries, as many refining projects are currently under way or planned for the near future mainly in Greece, Turkey, Romania and Serbia. As the total value of all these projects amounts to more than €6.0 bn, their realization can give a huge boost to the overall development of the SE European economy.

Greece is to play a central role in that prosperous outlook for the regional refining sector, as HELPE (Hellenic Petroleum SA) has just completed an ambitious investment in refining infrastructure, namely a major upgrade of its Elefsis refinery, which has cost €1,2 bn and has just come on stream.

This issue of "S.E. Europe Energy Brief - Market Insight” provides a detailed analysis of the refining sector in SE Europe, referring among others to specific plants in the various countries, which are in the planning or the construction stage.