The announcement that Total will convert its Dunkirk refinery into a new training facility may lead to further closures, it has been warned.
Petroleum Economist reports that the decision, made in response to the "decline in petroleum products demand", may be the first of many planned closures throughout Europe as large operators struggle to maintain profitability.
The oil and gas industry journal explained that with few buyers stepping into make an offer on plants already for sale, the European refinery market could suffer acutely.
The announcement that the Dunkirk refinery was to close sparked a wave of protest across France as Total workers threatened to down tools.
In response, Total sought to allay fears of job losses with the announcement that positions would be made available elsewhere while the Dunkirk plant would be redeveloped as a base for oil and gas training.
Attention is now turning to the Lindsey oil refinery on the Humberside, with industry analysts anticipating the French firm may put the plant up for sale.
Oil and Gas Directory: Training and Development