French Energy Ministry considers increasing oil refining capacity

PARIS, March ‌23 (Reuters) - The ​French ​Energy Ministry has started evaluating the possibility of increasing ‌the capacity of the country's five ⁠oil refineries in a bid to ‌soften the impact of ‌the conflict in Iran on energy prices, it said on Monday.

The ​ministry is particularly looking into fuel and diesel, it said.

"There is ⁠no risk of supply disruption. However, there is ​market tension, particularly evident in the sharper rise in diesel ​prices compared to gasoline ‌prices," the ministry told reporters.

France imported about 50% of ⁠its diesel consumption before the start of the war, it said.

Prices and ⁠supply of crude oil and refined products have ​become extremely volatile after Iran effectively closed the key Strait of Hormuz, through ‌which about a fifth of global oil and liquefied natural ‌gas flows, in response to ⁠strikes by the ‌U.S. and ​Israel.

(Reporting by Forrest Crellin, Inti Landauro, Editing by Charlotte Van ‌Campenhout)

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