Infographic: Trading houses move into Europe's refining scene

Recent bids for large European refineries have signaled a growing appetite among the global trading giants to pick up physical oil production assets as IOCs have downsized. As Europe stands in limbo between recent margin strength and a long-term decline, ownership has increasingly transferred from legacy players to less risk-averse players seeking short-term returns and green conversion opportunities.

Related feature: Cash-rich traders expand European refining footprint as IOCs retreat (subscriber content)

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