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Tale of two continents

07.01.2014  |  Romanow, Stephany,  Hydrocarbon Processing Staff, Houston, TX

Keywords: [diesel] [gasoline] [utilization rate] [economics] [cracking spread] [margins]

Growing supplies by non-OPEC countries has introduced some calm for crude oil prices. However, other factors are influencing profitability and margins. In the US, the abundance of shale oil and the 40-year ban on exporting crude oil has created unusual conditions. Now, North American refineries have an advantage as compared to European refiners. According to a new US Energy Information Administration report, companies with refineries primarily located in North America are reaping $6/bbl in profits as compared to those operators with assets in Europe.

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