Home » Computer & Software » Internet » Market Research: Rise in Asian & Middle Eastern Refineries Affecting North American Oil Companies
Ihren XING-Kontakten zeigen

Market Research: Rise in Asian & Middle Eastern Refineries Affecting North American Oil Companies

ROCKVILLE, MD — (Marketwire) — 01/25/12 — MarketResearch.com has announced the addition of the new report “Refining Industry to 2016 – Increasing Margins and Rise in Product Demand Set to Drive Capacity Expansions in Asia and Middle East,” to their collection of Energy market reports. For more information, visit

Net finished petroleum product exports from Asia (mainly China and India) to North America are rising, with approximately 26% of Asian exports going to North America in 2010. Subsequently, North American, particularly the US, refining industries are facing stiff competition. The recession-hit refining industry in the US has already witnessed declining margins due to idling and surplus capacity. Countries in the Middle East are working on the modernization of their existing refineries as well as capacity expansions. The progress with refinery infrastructure in the Asia and Middle East region will lead to surplus capacity and a decline in the refining margins of North American refineries.

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. However, as product demand declined in 2008-2009, owing to the global economic slowdown, Asia-Pacific-s refinery utilization rates also fell, from 86% in 2007 to 82% in 2009.

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.

NOCs such as Sinopec, PDVSA, Petrobras and Petrochina are aggressively expanding their refining capacities. Despite having large refining capacities, these companies are increasingly adding new refineries and expanding existing refineries. Though International Oil Companies (IOCs) will continue to enjoy the technological upper hand, NOCs are also rapidly strengthening their capabilities. NOCs are also fast increasing their refinery conversion capabilities to become more profitable.

For more information, visit

MarketResearch.com is the leading provider of global market intelligence products and services. With over 300,000 research reports from more than 700 top consulting and advisory firms, MarketResearch.com offers instant online access to the world-s most extensive database of expert insights on global industries, companies, products, and trends. For more information, call Veronica Franco at 240-747-3016 or visit .

Contact:
Veronica Franco
MarketResearch.com

240.747.3016

You must be logged in to post a comment Login


Blogverzeichnis - Blog Verzeichnis bloggerei.de Blog Top Liste - by TopBlogs.de Bloggeramt.de blogoscoop