The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: With no upstream prospects, Belgium will remain heavily reliant on imported supplies of both
liquids and gas. Natural gas consumption will be weak due growing nuclear and renewable generation in
the power sector. Meanwhile, the refining sector will perform well as efficiency improvements and low oil
prices increase the competitiveness of its downstream facilities.
Latest Updates And Key Forecasts
- Belgium's refining sector will remain among the most competitive in Europe due to its geographical
location between Europe's three largest diesel markets, and diversified access to crude markets through
Antwerp's port and Russian pipelines.
- Rising fuels stocks and a minimal demand side response to lower prices in Europe reduced refining
margins and slowed refining throughput over H116. We expect a similar trend for the rest of 2016.
- Modernisation of Total's Antwerp complex is expected to be completed this year, increasing output of
cleaner-burning fuels that align with EU regulations. This will not, however, expand overall capacity over
the next year.