Europe's Petrochemical Industry Imports Building Blocks Amid High Energy Prices, Making Domestic Production Costly

Europe's petrochemical industry is facing challenges as manufacturers are importing building blocks to make plastic from overseas due to high energy prices, making domestic production costly. The last time European petrochemical plants processed so little of their favorite feedstock was in 1975. Additionally, the amount of money spent on dismantling aging North Sea oil and gas infrastructure could surpass capital expenditure by 2040, as per the sector’s leading UK trade group.