Portuguese energy company Galp said yesterday that it will close the smaller of its two refineries – a facility in Matosinhos, Portugal, that includes one of Western Europe’s smallest base oil plants, along with a finished lubricant blending plant.
Galp attributed the decision to consolidate its refining operations to its larger facility in Sines to regulations and impacts of the coronavirus pandemic. The Matosinhos operations will cease operating next year.
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“The structural changes in oil products demand patterns, driven by the regulatory context in Europe and the effects caused by the COVID-19 pandemic, have led to a significant impact on Galp’s downstream industrial activities,” the company stated in a press release.