BP boosted jet fuel output 30% at European plants during Iran crisis

Investing.com -- BP Plc increased jet fuel production at its European refineries by approximately 30% during the Iran conflict, helping prevent major supply shortages in the region while millions of barrels remained trapped in the Persian Gulf.

The war began at the end of February and raised concerns that reduced jet fuel exports would create a severe supply shortage in Europe before peak summer demand. Prices reached record levels. Higher local production and increased imports from alternative suppliers helped the continent avoid a crisis.

BP Senior Vice President Brenda Stout said the company works continuously to identify and address bottlenecks. BP has invested in allowing its plants to process a wider variety of crude oil types and adjust their product mix, which increases flexibility to respond to supply constraints.

Europe typically imports most of its jet fuel from the Middle East under normal conditions. The near-complete stop of traffic through the Strait of Hormuz led multiple refiners to adjust their operations, shifting output toward jet fuel and kerosene, a similar petroleum product.

Spain's Repsol SA reported increasing jet fuel yields by up to 25%. Shell Plc, which operates the large Pernis refinery in Rotterdam, said in April the facility was producing as much of the fuel as possible.

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