{"id":379417,"date":"2020-10-20T09:26:18","date_gmt":"2020-10-20T03:56:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=379417"},"modified":"2020-10-20T09:52:23","modified_gmt":"2020-10-20T04:22:23","slug":"facing-wave-of-closures-oil-refiners-turn-to-biofuels","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/facing-wave-of-closures-oil-refiners-turn-to-biofuels\/","title":{"rendered":"Facing wave of closures, oil refiners turn to biofuels"},"content":{"rendered":"<p>European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative &#8211; converting plants to produce biofuels. <\/p>\n<p>The shock of the coronavirus epidemic crushed global oil demand and as some producers, including BP, say it might never recover to pre-crisis levels, the need to close refineries has accelerated.<\/p>\n<p>The International Energy Agency (IEA) said in a recent report that by 2030 around 14% of current refining capacity in advanced economies &#8220;faces the risk of lower utilisation or closure.&#8221;<\/p>\n<p>That share could grow to 50% in 2040 under a more aggressive transition away from fossil fuels to electric vehicles, the IEA said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative &#8211; converting plants to produce biofuels. The shock of the coronavirus epidemic crushed global oil demand and as some producers, including BP, say it might never recover to pre-crisis levels, the need to close refineries has accelerated. The International Energy Agency (IEA) said in a recent report that by 2030 around 14% of current refining capacity in advanced economies &#8220;faces the risk of lower utilisation or closure.&#8221; That share could [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-379417","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/379417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=379417"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/379417\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=379417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=379417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=379417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}