German refineries face unprecedented crisis as ministry calls sector “indispensable”

The German government is concerned about the country’s oil refineries, which are facing the most serious crisis in decades caused by the rising cost of emissions, cheap fuel imports, weak demand and underinvestment, reported business daily Handelsblatt. Some companies want to get rid of their refineries or stakes in them, but a lack of potential buyers means the closure of individual sites can no longer be ruled out, according to the article.