September 2005

Special Report: Refining Developments

Oil refiners' gathering storm: Help is on the way

Heavy oil upgrading could be key in calming the potentially dangerous turbulence generated by the global heavy oil/ light oil imbalance

Lifschultz, D. K., Genoil Inc.

Oil refiners are at the eye of a gathering storm, with increasing fronts pressuring both the supply and demand sides for crude oil and petroleum products. Under present trends, this could turn into a "perfect storm," threatening the very health of the world economy. This article describes the present situation, examines recent history to see how we got here, analyzes likely future trends and suggests what could be done to help ameliorate the negative impact of these trends. As every refiner knows, the fundamental problem is the growing imbalance between the rising demand for light products – particularly transportation fuels, which for the foreseeable future can only be met by pet

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