Cepsa Refinery in Algeciras
This new investment will allow the company to optimize compound treatment at the plant
The oil company Cepsa plans to invest a billion euros in its Algeciras plant (Cadiz) with the aim of being the last refinery to close in Europe. This new investment in the refinery of Algeciras will make it possible to process the heavies crude oil components, which are now used for tar and polluting products, and to use them to produce fuel of an increased added value. This investment shows the company’s optimism with regards to the mid-term life of fossil fuels.
The company considers that before 2030, oil-based products will continue to play a key role in the energy mix because we are not yet prepared for the energy transition. Automobiles will be increasingly more efficient and there will a larger number of hybrid vehicles, but not as many electric cars as some foresee. Cepsa also expects hydrocarbon consumption by cars to decrease 0.7% over the next few years, but to remain stable within the truck segment and to increase in the case of planes.