Refining margins are very tight at the moment, and the prediction is that several refineries across Europe will be in trouble (there is overcapacity in the sector). With Crude prices high and very heavy downward pressure on finished product prices, those refineries who can't alter their heavy/light fractions easily are really struggling. The money to be made is in the middle distillates (Diesel and Jet) and they sometimes make a loss on petrol (taken in isolation). They try and make as little petrol as possible and refine to maximise the middles. The less flexible refineries, who can't alter their split, are in trouble. Over the last 20 years, petrol production has nearly halved in this country. The refineries need to adapt to the new balance of fuels, but this costs big bucks in plant. And of course no one will lend you the money...
