Between 2013 and 2023, oil refinery capacities in France showed a steady decline. The capacity initially remained stable at 1.37 million barrels per day from 2013 to 2015 but started decreasing significantly in 2016. By 2023, the capacity stood at 1.06 million barrels per day, reflecting a clear negative trend. Over the last two years, capacities contracted by 3.48% in 2022 and 4% in 2023. The last five years experienced a compounded annual growth rate (CAGR) of -3.24%. Future forecasts indicate continuous reductions, with a 5-year CAGR estimated at -2.51%, resulting in a capacity of 0.89544 million barrels per day by 2028.
Future trends to watch for:
• The potential impact of environmental regulations and shifts towards renewable energy sources on refinery operations.
• Technological advancements in refinery efficiency and potential new investments in capacity expansions or reductions.
• Market dynamics, including global oil demand and geopolitical factors, which could significantly influence the forecasted capacities.