UKPIA Warns New Legislation May Add to Costs for Oil Refiners

The U.K.’s Petroleum Industry Association warned that new legislation may add to costs, threatening the refining industry, which has seen two plant closures since 2009.

“We calculate that new legislative impacts could add a further 0.35 pence per liter of costs, leaving close to zero return on capital employed, which is unsustainable,” the London-based organization said today in a report.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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