THE EU REFINING INDUSTRY IS A MAJOR PROVIDER OF HIGHLY-SKILLED JOBS AND SCIENTIFIC AND ENGINEERING EXPERTISE
Oil refiners are constantly investing in R&D (Research and Development) to improve process efficiency, safety, product quality and environmental performance. They work closely with academic and research institutions within the fields of science and engineering. As a result, many partnerships have developed between the oil industry and these academic institutions.
A ROBUST DOMESTIC REFINING INDUSTRY CONTRIBUTES TO EU MOBILITY AND ECONOMIC GROWTH
The free movement of people and goods is a fundamental element to social welfare and economic competitiveness, and a pillar of European integration. As the main supplier of transportation fuels in the EU, the refining industry plays an essential role in facilitating mobility. Kerosene for air transport, gasoline and diesel for road transport and gasoil and fuel oil for maritime transport all play a key role in maintaining the EU’s standard of living.
More so, demand for transportation fuels has a strong correlation with economic growth. Even as the EU makes progress in reducing greenhouse gas emissions in the transport sector, oil-based fuels will continue to play an important role in developing the sustainable European transport system of the future. The ability of the EU refining industry to meet new demands will be an important supporting element to ushering in economic recovery, having a direct impact on job creation and stability.