NEW YORK, Feb. 9, 2016 /PRNewswire/ -- In an over supplied competitive market with minimal margins, oil companies worldwide are investing heavily in revamping their capacity to produce more of premium products such as ultra-low sulfur diesel, a diesel fuel with sulfur content as low as 10 parts per million.
Industry leaders such as Exxon Mobil, BP Plc, Chevron, Total and others are burdened by industry overcapacity amidst a still sluggish economy and facing sluggish demand from the market as well.
Considering these dire realities, there is a shift taking place as emerging markets become the focal point for the global refining industry. Governments in different parts of the world continue to expand their existing refining capacity, which is already operating at very low or no returns, just in order to sustain employment and reduce their reliance on imported fuels. As a result, a lot more refining capacity has recently benefitted the world than what has been retired.
The global refining capacity is expected to reach nearly 115,000 mbd by 2020. From 2014 onwards, Chinese refiners are expected to add a significant proportion of new refining capacity. Some of the largest crude oil refineries in the world include the Reliance Jamnagar Refinery in India, the Paraguana Refining Center in Venezuela, the Ulsan Refinery in South Korea, the Yeosu Refinery and the Onsan Refinery also in South Korea, the Port Arthur Refinery in the US, Exxon Mobil's Refinery in Singapore and its refinery in Baytown, Texas, US, etc.
As can be seen from the list of some of the largest refineries in the world, most of the recent refining capacity additions have taken place in the Asia-Pacific region.
Aruvian Research analyzes the global crude oil refining industry in this latest research offering Analyzing the Global Crude Oil Refining Industry. The research report analyzes the global refining industry through industry statistics, crude oil refining capacity by countries, refining capacity by coking units, by fluid catalytic cracking capacity, by hydrocracking capacity and by a breakdown of the global crude oil refining industry by regions.
Regions analyzes in the report include Africa, Europe, Asia, Caribbean, Central and South America, North America, and the Middle East. For each of these regions, we analyze the industry through an overview, an analysis of the leading markets by country-wise share and growth in refining operations, growth in coking capacity, capacity of fluid catalytic cracking, hydrocracking capacity, additions to refining capacity through new refineries, through expansions in existing refineries and by capacity additions to both new and existing refineries.
We analyze over 90 major crude oil refining markets such as China, Afghanistan, Argentina, Bahrain, Brazil, Russia, Chile, India, Kuwait, Nigeria, Saudi Arabia, South Korea, South Africa, and many others.
The report sums up with a brief analysis of the major players in the global crude oil industry.
Read the full report: http://www.reportlinker.com/p03358826-summary/view-report.html
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