Hydrogen has been central to refining for decades. Historically, the refining sector has been the most important producer and consumer of hydrogen. However, with decarbonization policies creating headwinds for oil in the transportation sector, the call on conventional refining is set to fall. Meanwhile, hydrogen and hydrogen-derivative fuels are gaining ground. Is the energy transition a threat or opportunity for refiners? Will refiners reinvent themselves and will green hydrogen be at the core of that reinvention?