Shortage of refined products

Europe suffers from a permanent shortage of refined products which it ends up having to import. The majority of refineries that exist in the world today were built in the fifties, sixties and seventies and as a consequence, their latent obsolescence impedes the optimisation of production and generates undesirable contaminating products, such as fuel oil. However, this is not the case with Refineria Balboa.

The consumption of petroleum products in Spain at the moment stands at around 70 million tonnes. A production shortage of 20 million tonnes must be covered annually by imports, half of which are in the form of gas oil, a growing consumer product that is gradually replacing gasoline as a fuel. Refineria Balboa will cover 50 percent of kerosene and 20 percent of diesel imports.

Current status of refining in Spain. Infrastructure and production.