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Italian oil refineries 'at risk' says industry minister

'Four plant closures possible'

20 June, 15:29
Italian oil refineries 'at risk' says industry minister (see related) (ANSA) - Rome, June 20 - Italy's oil refineries "are in a risky situation that could lead to four plant closures," Industry Minister Flavio Zanonato said Thursday. Speaking at an annual meeting of the country's Petroleum Union, Zanonato did not reveal which plants were at risk when asked. During his speech he said the industry currently "has many problems," with "an excess of production capacity of 15-20 million tons per year".

It was therefore essential, he said, "to reorganize and focus on investments that create more added value," because "oil remains strategic even in the medium- and long-term, especially in transport.

"It is necessary not to compromise the Italian oil industry in order to safeguard the employment of 100,000 employees," maintaining a "strong refining sector, finding a new balance between regulation and competitiveness".