What Will Net-Zero by 2050 Mean for Europe’s Refining Industry?

Concawe, the research division of the European Fuel Manufacturers Association, partnered with S&P Global Commodity Insights to assess the sweeping impact of the EU’s net-zero target on Europe’s refining sector and fuel security.

Key Takeaways:

• Over 80% reduction in conventional refining capacity
• 500% increase in renewable fuel demand
• Significant investment needed in biorefineries and e-fuels
• Up to 60% shortfall in domestic e-fuels supply by 2050

These findings reveal both urgent risks and major opportunities. The energy transition is accelerating; early movers will be best positioned to lead and thrive.

S&P Global Commodity Insights provides tailored net-zero scenarios to help businesses make informed strategic decisions throughout the energy transition.