The European Commission initiated the inaugural High-Level Dialogue with the European oil refining sector to explore ways to enhance Europe’s energy security, defense preparedness, and industrial competitiveness amidst a swiftly evolving geopolitical landscape.
Dan Jørgensen, Commissioner for Energy and Housing, and Andrius Kubilius, Commissioner for Defence and Space, chaired the meeting. Participants consisted of representatives from the oil refining industry, European refiners, new fuel producers, engineering firms, technology suppliers, pertinent industry associations, and the North Atlantic Treaty Organization (NATO).
The conversation focused on the immediate reaction to the continuing disturbances stemming from the conflict in the Middle East, along with the medium-term perspective on the competitiveness and evolution of European refineries.
Conversations centered on optimizing current European refining capabilities, enhancing the robustness of fuel supply chains, and guaranteeing adequate production capacity to meet rising demand, especially during crises and for defense needs.
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Participants shared perspectives on the primary challenges confronting the sector, such as elevated energy expenses, international competition, and the requirement for investment in the transition towards sustainable biofuels and e-fuels.
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The Commission emphasized the need for a unified strategy to assist in the transformation of the refining sector, ensuring the protection of jobs, industrial competitiveness, and the EU's strategic priorities.
Efforts were directed towards maintaining Europe's long-term strategic fuel production capacity, while encouraging investment in alternative fuels and ensuring the sector remains capable of fulfilling the EU's energy security and defense readiness requirements.
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Dan Jørgensen, Commissioner for Energy and Housing says, “Today’s dialogue has been very fruitful, but it has been a first step. We will work to increase outputs from refining assets in Europe, because ultimately, we need to bring fuel prices down. But the work does not stop in the “here and now” of the crisis. Crises are also opportunities. We need to create an environment that supports sufficient domestic fuel production in Europe as well as long-term viability of European refining as the EU decarbonises. This is why, together with the sector, we will work on a joint roadmap on its transformation and contribution to the EU’s security objectives and in line with our climate ambition."