London—The UK’s refining industry could face further plant closures as the country’s growing dependence on imported fuels and costly UK-only regulations squeeze the profitability of the sector, according to a new study by the petroleum industry association UKpia. The UK’s remaining eight refineries are facing increasing cost pressures, due in part to the growing complexity and overlap in a range of policies designed to reduce carbon emissions, UKpia said in a new study titled “Fueling the UK’s future.”
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