Refiners Increasingly Replacing Low-Margin Refineries with More Efficient Designs

Abstract: April 8, 2024--Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)--In recent years, the downstream petroleum refining industry has been replacing older refineries that are both unprofitable and unfriendly to environment, social and governance (ESG) concerns. To replace these, the industry also is building new ones in areas where demand is increasing, mostly in Asia and Africa. OPEC and the International Energy Agency (IEA) expect world demand to rise through 2030, which will require more refining capacity.