The eighth high-level meeting of the EU Refining Forum was held in April in Brussels. The Refining Forum was first established in 2013 in recognition of the need to address the cumulative impact of policies on the EU refining industry. This important annual meeting brings together representatives from industry, Member States, the Commission, European Parliament and other key stakeholders to discuss planned and future regulatory proposals with potentially significant impacts on the EU’s refining industry and on the security of supply of petroleum products. This year’s event represented an important opportunity to discuss the refining industry in the context of energy transition, its enduring relevance and the role of innovation to make the most of opportunities ahead.

Against this backdrop, in autumn last year, an industrial strategy for the UK was launched by government and the European Commission unveiled a renewed EU industrial policy strategy.

What is clear is that industrial and energy strategies must be cognisant of the enduring relevance of the downstream oil sector and its ability to innovate, adjust and reinvent itself. But this is not all. Creating the right conditions to make the most of opportunities ahead will require policies and a regulatory framework that provide long-term certainty, clarity and stability for industry. There are challenges ahead but huge opportunities too!

Switching gears, next month, UKPIA will be publishing its Statistical Review 2018. With short commentaries as well as comprehensive data on everything from filling stations and road transport fuels, to petrol and diesel prices, biofuels, safety and much more, the review continues to be widely regarded as the go-to source of information for our sector.

As ever, special thanks go to our colleagues at the Department for Business, Energy & Industrial Strategy and our members, whose collaboration is vital in the production of the review. Within UKPIA, all members of the team come together to help create this important report and I thank all of them for their contribution. The publication will be available online at www.ukpia.com/publications

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