We think this will give US refiners a greater opportunity to capture margin by processing a wider range of crude slates and produce more higher-value product from each barrel processed. We have seen some good correlation in US demand for diesel and rig counts, similarly coal production in China and Indonesia show reasonable correlation to diesel demand growth. Most investments are from national oil companies NOCswith higher focus on petrochemical feedstock, private investments have been limited primarily to China - again most of which are focussed on integrating downstream to PX and the polyester value chain. An overlay of new environmental norms, rising global miles driven cars, airlines and improving EM growth just makes margin on refining look stronger than ever. Actions Shares.
Refinery margins price forecasts Energy Aspects
4 Outlook. Dated Brent and WTI-Cushing crude oil price outlook to.
Video: Refinery margins forecast lighting Gasoline Prices Set to Rise as Refining Margins Decline: Video
markets. • USGC limited by naphtha yields, lights ends of super. Asia Distillates-Gasoil refining margins hit three-week high Smart Lighting Market to - Global Analysis and Forecasts by Lighting Types, Application and.
Emerging markets have seen an upturn in demand this year: India, Latam and the Middle East are key to this growth with above-trend GDP.
Published on May 27, A combination of the above should con- solidate the market and keep refining margins higher for longer. Investments are becoming more local and companies that do not invest in upgrading hardware will struggle to maintain competitive- ness. Clipping is a handy way to collect important slides you want to go back to later.
gas processing margins types
Refinery margins forecast lighting
|A combination of the above should con- solidate the market and keep refining margins higher for longer.
US refiners are the highest in complexity. While Asia remains key to demand growth, we think it is also key to the global supply equation, as quite a few refinery cum petrochem- ical integrated projects are being built in the region by NOCs. Investments are becoming more local and companies that do not invest in upgrading hardware will struggle to maintain competitive- ness.
M 6 M Executive Summary A tectonic shift is underway on how new capital investments in refining are being thought about, as even good margins in past three years have not been able to attract major investments on concerns of competition from alternative fuels. It'simportanttonotethatglobalrefiningcapacity has been running at very high utilization rates with US, teapots and Asiancapacitynearingfive-yearpeakutilization see Exhibit30 -all of which raises downside risks to existing supply by about bps.
We estimate kbpd in the region bywith capacity growth matching this, as Malaysia and Indonesia expand capacity, while Thai- land undertakes brownfield expansion.
Refinery Margins Stratas Advisors
Global Refining Outlook Margins Under Pressure Until Industry a - Download as PDF File ~ kbpd displacement of non-Canadian foreign lights. We see a 30% rise in refinery margins with complex refiners being outsized. on refiners and raising our global margin forecasts significantly, with the and the Current Cycle, high- lights % outperformance until e.
The regional assessment of the refinery margin outlook from to is discussed below.
While oil prices raise utility costs to process crude in a refinery, and fuel and oil losses for a refinery rise, they raise the global marginal cash cost, which steadily drives higher product marginsinaundersuppliedmarket,whichweseeuntil,thereby more than making up for the cost inflation. Although volumes are still small, we have recently seen Indian refiners raising usage of US light sweet crude, as crude pre- miums were raised by Middle East and Dubai-WTI differentials worked in favour of WTI-linked crudes.
Key risks to diesel demand: Delay on implementation of IMO regu- lations would be a key risk to diesel margins. Of interest, we note commentary from Boeing's CEO on the com- pany's earnings call: "Air travel has proven to be a resilient market, and robust growth is expected to continue in the future.
gas processing margins usage
Refinery margins forecast lighting
|Mostrefinersareeitheradding delayed cokers to lower fuel oil output or raising their de-sulfurisa- tion capacity to comply with new environmental regulations.
With structurally low natural gas prices in North America and growing Canadian and US oil output, US refiners enjoy the benefit of sitting on top of abundantly cheap natural gas and crude oil feedstock. Gradual rises in oil price not negative for refining margins. Send your feedback to todayinenergy eia. The market is overestimating global capacity growth and is overly bearish on demand. Utilisation rates of existing capacities has been high across Asia and US, and even China's spare capacity of teapots has been steadily ramped up, leaving little room for upside in supply due to higher utilization rates.