Total plans to adapts in refining activities in France to the European decrease in oil product demand. The company committed not to close any French refinery for five years after the shut-down of its Dunkerk refinery in 2010; Total may cut capacity after the end of the 5-year period, in 2015. European refining margins are falling due to a declining oil-product demand and to the competition from Asian and Middle-East refineries. According to analysts, the European refining capacity could need to be reduced by 1.5 - 2 mb/d to balance the market by 2018.
In late July 2014, Total decided to cut its refining capacity in Italy by about 400,000 bbl/d, which corresponds to halving the group's refining capacity. Three refineries, namely Taranto, Gela and Livorno, will be affected.
Finally, ExxonMobil has announced the sale of its service station network in France to DCC Energy (Ireland). The transaction, including nearly 630 stations, is expected to be completed in the first half of 2015.
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