TotalEnergies will upgrade its Antwerp refinery in late 2025.
TotalEnergies plans to undertake extensive turnaround work at its largest integrated refinery complex in Antwerp, Belgium, during the latter half of 2025.
This facility, located in the key oil hub of Antwerp-Rotterdam-Amsterdam (ARA), has a capacity of approximately 340,000 barrels per day (bpd) of crude oil.
Specifically, the Antwerp refinery features two fluid catalytic converters for gasoline production, and plans include installing a new reactor in the larger unit during the operational halt from September to December 2025.
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Additionally, upgrades will also be made to the furnaces.
This overhaul comes amid a challenging time for the refining industry, as margins have recently declined due to weaker-than-expected demand and an oversupply in the market.
TotalEnergies, alongside other major players like Shell and BP, has warned that these declining refining margins are likely to significantly impact third-quarter earnings.
In fact, in its preview of the upcoming Q3 earnings report, TotalEnergies indicated that analysts expect downstream profits to fall sharply, largely due to reduced refining margins across Europe and globally.
The European Refining Margin Marker (ERM), a crucial industry indicator, dropped by 65% to $15.4 per ton in the third quarter, down from $44.9 per ton in the previous quarter, and significantly lower than the average of $100.6 per ton during the same period last year.
Ultimately, as the refining sector adapts to these new conditions, TotalEnergies’ investment in its Antwerp refinery may prove vital for navigating the evolving market landscape.
