Energy and Utilities
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Global Refining Industry Environmental Laws Reshapes Investment Scenario (Global Markets Direct)
- Market: Energy and Utilities
- Published Date: 02 May 2008
- Report Title: Global Refining Industry Environmental Laws Reshapes Investment Scenario
- Table of Contents: View Table of Contents
- Report Type: Market Report
- Country: Global
- Number of Pages: 27
Global Refining Industry Environmental Laws Reshapes Investment Scenario
Summary
The Clean Air Act (CAA), which was enacted in 1970 in the U.S. and subsequently amended twice in 1977 and 1990, has affected the operation of refineries in the U.S.. The CAA laid down clear strictures on the emissions from refinery complexes. Similarly, the EU emissions trading scheme (ETS) has altered the refinery industry in Europe. Under the directive implementing the EU ETS approved in 2003, the refinery sector was allocated CO2 emission allowances, starting in 2005.
These acts in the U.S. and Europe provide economic impetus to implement the best technology solution to address emission problems. Despite being provided the flexibility to cap emissions, operators were hesitant to refurbish their refineries to lower CO2 and SOX emission. The refiners who upgraded their infrastructure suffered from lower profit margins. A number of small scale refineries in United States and Europe subsequently closed down.
Scope
• GlobalData viewpoints cover the latest events or important trends in the global oil and gas industry and provide our in-depth analysis of issues and challenges. Viewpoints offer expert opinions and GlobalData’s views of various developments that have been taking place in the oil and gas industry across the world.
Reasons to Buy
• Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry.
• Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today
• Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry
• Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events
Summary
The Clean Air Act (CAA), which was enacted in 1970 in the U.S. and subsequently amended twice in 1977 and 1990, has affected the operation of refineries in the U.S.. The CAA laid down clear strictures on the emissions from refinery complexes. Similarly, the EU emissions trading scheme (ETS) has altered the refinery industry in Europe. Under the directive implementing the EU ETS approved in 2003, the refinery sector was allocated CO2 emission allowances, starting in 2005.
These acts in the U.S. and Europe provide economic impetus to implement the best technology solution to address emission problems. Despite being provided the flexibility to cap emissions, operators were hesitant to refurbish their refineries to lower CO2 and SOX emission. The refiners who upgraded their infrastructure suffered from lower profit margins. A number of small scale refineries in United States and Europe subsequently closed down.
Scope
• GlobalData viewpoints cover the latest events or important trends in the global oil and gas industry and provide our in-depth analysis of issues and challenges. Viewpoints offer expert opinions and GlobalData’s views of various developments that have been taking place in the oil and gas industry across the world.
Reasons to Buy
• Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry.
• Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today
• Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry
• Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events
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