Promotion — 15% off Refining Industry to 2016 - Increasing Margins and Rise in Product Demand Set to Drive Capacity Expansions in Asia and Middle East

The global refining industry is witnessing a rapid increase in the refining capacities of National Oil Companies (NOCs) across the globe. NOCs tend to cater to both the domestic demand and export issues. The prime objective of NOCs is on meeting the domestic petroleum product demand. Private players, such as ExxonMobil, BP Plc, Valero Energy and ConocoPhillips, presently dominate the industry. However, the growth rate of these companies is low. Refinery utilization rates in the Asia-Pacific region have grown almost in sync with the global refinery utilization rates over the last decade. The utilization rate increased from 81.96% in 2000 to 82% in 2009. During the same period, the refining capacity in the region increased at a CAGR (compound annual growth rate) of 2.7%. Growing demand for clean products has resulted in strong growth in the refinery utilization rates in the Asia-Pacific region.

15% off Refining Industry to 2016 - Increasing Margins and Rise in Product Demand Set to Drive Capacity Expansions in Asia and Middle East