Brussels-EU legislation is a burden to the refining industry and cutting already flat profit margins, Chris Beddoes, director general of EU petroleum association Europia, at said Wednesday at the European Commission's second annual refining forum in Brussels. And he warned that if too many refiner- ies close, the refining industry in Europe could collapse. "When utilization [rates] are down to 70-75%, we can't survive-it is clearly not sustainable for a profitable indus- try," he said.
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