2 ms·
Switching oil providers is not as easy as most people think. Refining facilities are more or less matched to their feedstocks, retro-fitting to other crudes al
by elzbardico 4y ago
Switching oil providers is not as easy as most people think.
Refining facilities are more or less matched to their feedstocks, retro-fitting to other crudes always takes some time and money.
Also, adjusting production and delivery is not an instantaneous process. Especially when you substitute a pipeline-based feedstock (as Europe is doing right now) in favor of tankers. You need tanker capacity, you need to have contracts for this, you need terminals, and you need pipelines from the port to the refining facility.
Things are simply not as easy and supply shocks take time and effort for resolution.