UK Oil Refineries May Vanish Due to Rising Carbon Costs: Exxon Expert

Exxon Mobil Corp. warns that all UK oil refineries may close due to increasing carbon costs, citing the nation's biggest oil-processing plant, Fawley refinery. Two UK refineries have already closed this year. Exxon Chairman Paul Greenwood urges the UK to include refining in the carbon border adjustment mechanism, saying competitors in Africa and Asia have weaker environmental standards. He also notes that the UK lacks a framework to support the hydrogen industry.