September 2005

Special Report: Refining Developments

Global refining industry trends: the present and future

The energy market is global and interdependent; thus, all regions are tied together on crude oil and transportation fuels

Swaty, T. E., Shaw stone & Webster

The global refining industry is driven by the demand for transportation fuels and their required specifications. Petroleum-based fuels will play an important role in the world's energy requirements for years to come. Most experts agree that the supply of oil is limited and will become more difficult to find. The world focus on environmentally friendly fuels also requires refiners to invest in technology to convert the increasingly poor-quality crude oil into high-quality finished products. Many factors are reshaping the energy market; key drivers include petroleum demand, expected future product demand through 2010, global refining "configuration," refining petrochemical interface, and

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