SINGAPORE (Reuters) — The rising demand for crude oil that can more easily produce transportation fuels when refined has some Australian and Malaysian producers boasting cargoes valued at close to $70/bbl, a hefty premium to global benchmarks.
The global oil refining industry has been buffeted by many events in recent years.
Nearly 700 refineries are operating in more than 120 countries around the world.
As the oil and gas industry adjusts to a business environment in which crude oil prices will likely remain lower for longer, refiners continue looking for ways to maximize their profitability.
One of the main focal points in this issue of Hydrocarbon Processing is the environment.
Revamping refineries to process heavier crude slates goes well beyond the requirements to meet equipment performance dictated by a shift in the quantity of lighter product yields to heavier products.
Over the past year, the world has witnessed significant downstream capacity growth in all sectors of the hydrocarbon processing industry (HPI).
Over the past several years, the Middle East has made substantial investments to increase its downstream processing capacity.
Over the past few years, the world has witnessed significant downstream capacity growth in all sectors of the hydrocarbon processing industry (HPI).
Technology gaps in the crude oil refining sector of sub-Saharan Africa (SSA) are making it difficult for crude oil processing plants to achieve energy efficiency, produce high-quality products or adhere to international carbon emissions requirements.