Libyan refiner Tamoil plans to convert its 95,000 barrel-a-day Cremona facility in Italy to a storage depot by the end of 2011.
Tamoil and Petroplus Holdings are the latest companies to confirm they will close oil refineries in Europe next year.
In recent months a number of refineries have been up for sale, faced closure or conversion into storage terminals.
Mol Nyrt, Hungarys largest refiner, plans to shut petrol and diesel producing units at four sites next year.
Mol will halt a petrol plant at its Duna refinery in Szazhalombatta, Hungary, during Q2 and idle a diesel unit in Q3.