September 2019

Trends & Resources

Business Trends: Crude-to-chemicals—An opportunity or threat?

For most oil refiners and chemical producers, the need to improve margins and remain competitive has never been greater.

Gupta, S., Xu, D., Wood Mackenzie

For most oil refiners and chemical producers, the need to improve margins and remain competitive has never been greater. Refining overcapacity, International Maritime Organization (IMO) regulation changes, the threat of peak oil demand in the transportation sector, the rising appetite for petrochemical feedstock and a shift in product demand patterns will drive refiners to rethink their businesses. The integration of refineries with chemicals is becoming an important growth strategy for many companies, but it is not without risk. Saudi Aramco is actively investing in the chemical sector, and several integrated refinery-petrochemical projects are being planned in China on a scale yet unseen

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