China’s crude oil imports in April unexpectedly surged to a record despite refinery maintenance outages and tepid domestic fuel demand.
A combination of planned and unplanned refinery outages affected US gasoline production, resulting in considerable declines in inventory levels.
The refining business needs to change dramatically over the next decade.
According to recent statements of leading Japanese analysts in the field of refining and the country’s largest producers, the Japanese refining industry is moving towards consolidation and an increase in efficiency.
Hundertmark, T.,
Mayer, M.,
McNally, C.,
Simons, T. J.,
Witte, C., McKinsey & Co.
If plastics demand follows its current trajectory, global plastics-waste volumes would grow from 260 MMtpy in 2016 to 460 MMtpy by 2030, taking what is already a serious environmental problem to a new level.
In the US, soaring gasoline stocks and poor fuel oil performance were offset by strong heating oil demand and higher product prices caused by weather-related refinery outages.
The Russian government has announced its plan to increase the volume of support for its domestic petrochemicals industry over the next several years, with the aim of doubling its production and boosting exports, according to Russian Minister of Energy Alexander Novak and the press service of the Russian Presidential Administration.
US refinery margins saw losses as product stocks rose, pressured by seasonally lower gasoline demand and subdued heating oil requirements.
The 2018 edition of Petrotechnics’ process safety management (PSM) and operational risk management report builds on insights gained from the 2017 survey.