Shell says its underperforming European refineries to get no mercy

LONDON (Reuters) - Anglo Dutch oil company Royal Dutch Shell will show no mercy to underperforming oil refineries in Europe as it seeks to improve returns, its chief executive said on Thursday. Oil companies with refineries in Europe are facing an industry wide challenge of weak profit margins and over-capacity, which has already prompted some plants to close. "The refining environment in Europe is challenged," said Shell's Chief Executive Ben van Beurden on a webcast to discuss the company's earnings. "In the end we will end up with a strong position in Europe as the industry further restructures. "If we can't get to that point, there will be no mercy for those refineries. We will not tolerate having structurally underperforming assets that cannot deliver or cannot punch their weight in the portfolio." (Reporting by Alex Lawler; editing by Keiron Henderson)