The Future Of The Global Refining Industry to 2015 – Benefiting From National Oil Companies’ Growth

Introduction

GBI Research’s report on “The Future of the Global Refining Industry to 2015 – Benefiting From National Oil Companies' Growth” is an essential source for top-level energy industry information and analyses. The report provides an in-depth analysis of the key trends, issues, challenges in the global refining industry to 2015. It also gives information on refinery product types and future refining trends. The research covers the global refining market with information on historical and forecast capacities of refineries by region and key countries during the period 2000-2015. Leading companies in the global refining industry and their investment opportunities and challenges have been examined in the report.

Report Highlights
GBI Research’s report on “The Future of the Global Refining Industry to 2015 - Benefiting From National Oil Companies' Growth” is an essential source for top-level energy industry information and analyses. The report provides an in-depth analysis of the key trends, issues, challenges in the global refining industry to 2015. It also gives information on refinery product types and future refining trends. The research covers the global refining market with information on historical and forecast capacities of refineries by region and key countries during the period 2000-2015. Leading companies in the global refining industry and their investment opportunities and challenges have been examined in the report.

According to the report, national oil companies will provide the impetus for global refining capacity growth in the next five years. Accordingly, the global refining capacity is expected to grow from 4,513.0 MMTPA in 2009 to 5,395.1 MMTPA in 2015 at an AAGR of 2.98% as compared to 1.56% growth between 2000 and 2009.

However, the report estimates the global refining capacity cushion (spare refining capacity) to remain low in the next five years. Spare capacity, which was as high as 25% in the early 1980s, declined to 10%-11% in 2007-2008. Amidst delays and cancellations of planned projects, the global refining capacity cushion is expected to be around 13% by 2015.

Global Refining Margins is Expected to Remain Low

Although the global refining industry had started witnessing higher returns since 2004, the economic downturn since the mid-2008 has transformed it back to its traditional model of a high-investment, low-return business. As the demand for products like gasoline and naphtha are unlikely to recover in the coming years, global refining margins will remain low in the range of $5-$7/barrel and will be sustained mainly by middle distillates, which will have steady demand.

US Gulf Coast, Quarterly Gross Refining Margins($/Barrel), 2004-2009

Source: GBI Research

Global Refining Industry is Witnessing Addition of Costs Due to Stringent Environmental Regulations

Worldwide, growing environmental concerns have resulted in the enactment of strict regulatory frameworks and emission norms. The petroleum products demand across all major markets has also shifted towards lighter and cleaner products. Demand for cleaner products mandates reduction in sulfur content of products, apart from improving other quality parameters. Such quality requirements call for heavy investments in refineries to install adequate conversion and desulfurization facilities.

Global Refining Capacity Growth Till 2015 Will be Driven by National Oil Companies

With low petroleum product demand and declining falling refinery margins forcing private, international oil companies to reduce or cancel investments in the refining business, national oil companies are going ahead with their refinery projects with long-term strategic objectives. Leveraging on their strong cash reserves and strong government support, most national oil companies are adding refining capacities, either to cater to domestic refined products need or to transform their countries into global refining hubs. For example, national oil companies in the Middle East are investing in refineries to process domestic heavy crude oil and reduce the import of light and middle distillates. Given the regulatory constraints to build Greenfield refineries in North America and Europe, the Middle East can become a major petroleum product supplier to these countries instead of being just a crude oil supplier.

Global Refining Capacity (MMTPA) by Region and Year-on-Year Growth Rate(%), 2000-2015

Source: GBI Research

The Top Five High Growth Refining Markets in the World Are Characterized by Refineries with High Capacity but Low Complexity

The top five high growth refinery markets – China, India, the Islamic Republic of Iran (Iran), Saudi Arabia and Brazil, account for 19.0% of global refining capacity. The average size of refineries in these countries - at 8.08 Million Metric Tonnes per Annum (MMTPA), is above the global average of 6.7 MMTPA. However, the complexity is lower than the global average. In 2009, the average complexity of the refineries in these countries was 4.6 while the global average was 5.7.
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1 Table of Contents
1 Table of Contents 3
1.1 List of Tables 7
1.2 List of Figures 9
2 Introduction 11
2.1 What Is This Report About? 11
2.2 GBI Report Coverage 11
2.3 Definitions 11
3 Global Refining Industry 12
3.1 Industry Overview 12
3.2 Global Refining Industry Growth, 2000-2015 15
3.3 Global Refining Capacity Growth through New Refineries and Capacity Expansions 16
3.4 Global Refining Capacity and Petroleum Products Demand 17
3.5 Global Refining Industry Market Share Analysis 19
3.6 Global Refining Industry: Key Trends and Drivers 19
3.6.1 Major Trends Set to Reshape the Refining Industry 20
3.6.2 The Future of Refining – Prime Drivers 21
3.7 Global Refining - Factors Challenging its Future Growth 21
3.8 Refinery Costs and Margins 22
3.8.1 Gross Refining Margins Overview 22
3.8.2 Gross Refining Margins Trends 22
3.8.3 Gross Refining Margins Trends, US Gulf Coast, 2004-2009 23
3.8.4 Gross Refining Margins Trends, US West Coast, 2004-2009 25
3.8.5 Gross Refining Margins Trends, US East Coast, 2004-2009 27
3.8.6 Gross Refining Margins Trends, North West Europe, 2004-2009 29
3.8.7 Gross Refining Margins Trends, Singapore, 2004-2009 31
4 Asia-Pacific Refining Industry – Regional Market Scenario 33
4.1 Asia-Pacific Refining Industry, Market Overview 33
4.1.1 Growth of Refining Industry in Asia-Pacific, 2000-2015 34
4.1.2 Asia-Pacific Refinery Throughput and Utilization Rates, 2000-2008 35
4.1.3 Key Upcoming Refineries in Asia-Pacific, 2009-2015 35
4.1.4 Asia-Pacific Refining industry – Competitive Overview 37
4.2 Asia-Pacific Refining Industry, Key Issues and Challenges 38
4.2.1 Regulated Price Structure Resulting In Lower Refining Margins for Asia-Pacific Refiners 38
4.2.2 High Sulfur Content in Crude Feedstock is Forcing Refiners to Upgrade Their Refineries With Secondary Conversion Units 39
4.2.3 Strict Environmental Regulations Forcing Refiners to Make High Investments to Upgrade Refineries For Producing Cleaner Fuels 39
4.2.4 Increasing Difficulty to Meet the Changing Product Consumption Pattern 39
4.3 China 39
4.3.1 Refining Industry in China – Market Overview 39
4.3.2 Refined Products Scenario in China – The Demand Supply Balance 40
4.3.3 Refining Industry in China – Key Trends, 2000-2015 41
4.3.4 Refining Industry in China – Competitive Overview 43
4.4 Japan 44
4.4.1 Refining Industry in Japan – Market Overview 44
4.4.2 Refined Products Scenario in Japan – The Demand Supply Balance 45
4.4.3 Refining Industry in Japan – Key Trends, 2000-2015 46
4.4.4 Refining Industry in Japan – Competitive Overview 47
4.5 India 48
4.5.1 Refining Industry in India – Market Overview 48
4.5.2 Refined Products Scenario in India – The Demand Supply Balance 49
4.5.3 Refining Industry in India – Key Trends, 2000-2015 50
4.5.4 Refining Industry in India – Competitive Overview 52
5 European Refining Industry – Regional Market Scenario 54
5.1 Europe Refining Industry, Market Overview 54
5.1.1 Growth of refining industry in Europe, 2000-2015 54
5.1.2 Europe Refinery Throughput and Utilization Rates, 2000-2008 56
5.1.3 Key Upcoming Projects, 2009-2015 56
5.1.4 European Refining Industry- Competitive Overview 57
5.2 Europe Refining Industry, Key Issues and Challenges 58
5.2.1 Increasing Dependence on Crude Imports from Russia 58
5.2.2 Varying Consumption Pattern Forcing Refiners to Change Refinery Configurations 58
5.2.3 Stringent Environmental Regulations and Drive towards Cleaner, Efficient Fuels Forces Refiners to Increase Investments in Refinery Upgradation 59
5.2.4 Refineries Face the Problem of Acute Supply of Hydrogen for Hydro Treating Units 59
5.3 Russian Federation 59
5.3.1 Refining Industry in Russian Federation – Market Overview 59
5.3.2 Refining Industry in Russian Federation – Key Trends, 2000-2015 60
5.3.3 Refining Industry in Russian Federation – Competitive Overview 61
5.4 Germany 61
5.4.1 Refining Industry in Germany – Market Overview 61
5.4.2 Refined Products Scenario in Germany – The Demand Supply Balance 62
5.4.3 Refining Industry in Germany – Key Trends, 2000-2015 63
5.4.4 Refining Industry in Germany – Competitive Overview 64
5.5 Italy 64
5.5.1 Refining Industry in Italy – Market Overview 64
5.5.2 Refined Products Scenario in Italy – The Demand Supply Balance 65
5.5.3 Refining Industry in Italy – Key Trends, 2000-2015 66
5.5.4 Refining Industry in Italy – Competitive Overview 67
6 North America Refining Industry – Regional Market Scenario 68
6.1 North American Refining Industry, Market Overview 68
6.1.1 Growth of refining Industry in North America, 2000-2015 69
6.1.2 North America Refinery Throughput and Utilization Rates, 2000-2008 70
6.1.3 Key Upcoming Projects, 2009-2015 70
6.1.4 North American refining industry – Competitive Overview 72
6.2 Key Issues and Challenges 72
6.2.1 Regulatory Compliance and Huge Investment Costs Make It Difficult To Construct New Refineries 73
6.2.2 Deteriorating Quality of Crude Supply Poses Serious Challenges for North American Refiners 73
6.2.3 Declining Returns in Refining Sector Can Delay New Projects 73
6.3 The US 73
6.3.1 Refining Industry in the US – Market Overview 73
6.3.2 Refined Products Scenario in the US – The Demand Supply Balance 74
6.3.3 Refining Industry in US – Key Trends, 2000-2015 75
6.3.4 Refining Industry in The US – Competitive Overview 82
6.4 Canada 83
6.4.1 Refining Industry in Canada– Market Overview 83
6.4.2 Refined Products Scenario in Canada – The Demand Supply Balance 84
6.4.3 Refining Industry in Canada – Key Trends, 2000-2015 85
6.4.4 Refining Industry in Canada – Competitive Overview 86
7 Middle East and Africa Refining Industry– Regional Market Scenario 88
7.1 Middle East and Africa Refining Industry: Market Overview 88
7.1.1 Growth of Refining Industry in Middle East, 2000-2015 89
7.1.2 Middle East and Africa Throughput and Utilization Rates, 2000-2008 90
7.1.3 Key Upcoming Projects, 2009-2015 91
7.1.4 Middle East refining industry – Competitive Overview 93
7.2 Key Issues and Challenges 94
7.2.1 Strong Domestic Gasoline Demand Forces Refiners to Upgrade Refineries 94
7.2.2 Operational Difficulties and Tough Market Regulations Continue to Daunt African Refiners 94
7.2.3 High Cost of Shipping and Pipeline Transport of Crude Oil Affect Refinery Profitability 94
7.3 Saudi Arabia 94
7.3.1 Refining Industry in Saudi Arabia – Market Overview 94
7.3.2 Refined Products Scenario in Saudi Arabia – The Demand Supply Balance 95
7.3.3 Refining Industry in Saudi Arabia – Key Trends, 2000-2015 96
7.3.4 Refining Industry in Saudi Arabia – Competitive Overview 97
7.4 Iran (Islamic Republic of) 98
7.4.1 Refining Industry in Iran (Islamic Republic of) – Market Overview 98
7.4.2 Refined Products Scenario in Iran (Islamic Republic of) – The Demand Supply Balance 99
7.4.3 Refining Industry in Iran – Key Trends, 2000-2015 100
7.4.4 Refining Industry in Iran – Competitive Overview 101
7.5 Kuwait 101
7.5.1 Refining Industry in Kuwait – Market Overview 101
7.5.2 Refined Products Scenario in Kuwait – The Demand Supply Balance 102
7.5.3 Refining Industry in Kuwait – Key Trends, 2000-2015 102
7.5.4 Refining Industry in Kuwait – Competitive Overview 103
8 South and Central America Refining Industry – Regional Market Scenario 104
8.1 South and Central American Refining Industry: Market Overview 104
8.1.1 Growth of Refining Industry in South and Central America, 2000-2015 105
8.1.2 South and Central America Throughput and Utilization Rates, 2000-2008 106
8.1.3 Key Upcoming Projects, 2009-2015 107
8.1.4 South and Central American Refining industry – Competitive Overview 108
8.2 Brazil 109
8.2.1 Refining Industry in Brazil – Market Overview 109
8.2.2 Refined Products Scenario in Brazil – The Demand Supply Balance 109
8.2.3 Refining Industry in Brazil – Key Trends, 2000-2015 111
8.2.4 Refining Industry in Brazil – Competitive Overview 112
8.3 Mexico 113
8.3.1 Refining Industry in Mexico – Market Overview 113
8.3.2 Refined Products Scenario in Mexico – The Demand Supply Balance 113
8.3.3 Refining Industry in Mexico – Key Trends, 2000-2015 114
8.3.4 Refining Industry in Mexico – Competitive Overview 115
8.4 Venezuela 115
8.4.1 Refining Industry in Venezuela – Market Overview 115
8.4.2 Refined Products Scenario in Venezuela – The Demand Supply Balance 116
8.4.3 Refining Industry in Venezuela – Key Trends, 2000-2015 117
8.4.4 Refining Industry in Venezuela – Competitive Overview 117
9 Major Players in the Global Refining Industry 118
9.1 Overview 118
9.2 ExxonMobil Corporation 118
9.2.1 Overview of ExxonMobil Refining Operations 118
9.2.2 Refining Capacity of ExxonMobil Corporation, 2000-2015 118
9.2.3 Partnerships and Alliances in ExxonMobil Corporation’s Refining Business 120
9.3 China Petroleum & Chemical Corporation 121
9.3.1 Overview of China Petroleum & Chemical Corporation Refining Operations 121
9.3.2 Refining Capacity of China Petroleum & Chemical Corporation, 2000-2015 121
9.3.3 Partnerships and Alliances in China Petroleum & Chemical Corporation’s Refining Business 122
9.3.4 Planned Refinery Projects Undertaken by China Petroleum & Chemical Corporation, 2009-2015 123
9.4 Royal Dutch Shell Plc 123
9.4.1 Overview of Royal Dutch Shell Plc Refining Operations 124
9.4.2 Refining Capacity of Royal Dutch Shell Plc, 2000-2015 124
9.4.3 Partnerships and Alliances in Royal Dutch Shell Plc’s Refining Business 125
9.4.4 Planned Refinery Projects Undertaken by Royal Dutch Shell Plc, 2009-2015 127
9.5 ConocoPhillips 127
9.5.1 Overview of ConocoPhillips Refining Operations 127
9.5.2 Refining Capacity of ConocoPhillips, 2000-2015 127
9.5.3 Partnerships and Alliances in ConocoPhillips’ Refining Business 129
9.5.4 Planned Refinery Projects Undertaken by ConocoPhillips, 2009-2015 130
9.6 Petrochina CompanyLtd 130
9.6.1 Overview of Petrochina CompanyLtd Refining Operations 130
9.6.2 Refining Capacity of Petrochina Company Ltd, 2000-2015 131
9.6.3 Partnerships and Alliances in Petrochina Company Ltd’s Refining Business 131
9.6.4 Planned Refinery Projects Undertaken by Petrochina Company Ltd, 2009-2015 133
9.7 Valero Energy Corporation 133
9.7.1 Overview of Valero Energy Corporation Refining Operations 133
9.7.2 Refining Capacity of Valero Energy Corporation, 2000-2015 134
9.7.3 Partnerships and Alliances in Valero Energy Corporation’s Refining Business 135
9.7.4 Planned Refineries and Key Expansion Projects Undertaken by Valero Energy Corporation, 2009-2015 135
9.8 BP Plc 136
9.8.1 Overview of BP Plc Refining Operations 136
9.8.2 Refining Capacity of BP Plc, 2000-2015 136
9.8.3 Partnerships and Alliances in BP Plc’s Refining Business 137
9.9 Total S.A. 138
9.9.1 Overview of Total S.A. Refining Operations 138
9.9.2 Refining Capacity of Total S.A, 2000-2015 138
9.9.3 Partnerships and Alliances in Total S.A’s Refining Business 140
9.9.4 Planned Refinery Projects Undertaken by Total S.A, 2009-2015 141
9.10 Petroleo Brasileiro S.A. 141
9.10.1 Overview of Petroleo Brasileiro S.A Refining Operations 141
9.10.2 Refining Capacity of Petroleo Brasileiro S.A, 2000-2015 142
9.10.3 Partnerships and Alliances in Petroleo Brasileiro S.A’s Refining Business 143
9.10.4 Planned Refinery Projects Undertaken by Petroleo Brasileiro S.A., 2009-2015 144
9.11 Petroleos De Venezuela S.A. 144
9.11.1 Overview of Petroleos De Venezuela S.A Refining Operations 144
9.11.2 Refining Capacity of Petroleos De Venezuela S.A, 2000-2015 145
9.11.3 Partnerships and Alliances in Petroleos De Venezuela S.A’s Refining Business 146
9.11.4 Planned Refinery Projects Undertaken by Petroleos De Venezuela S.A.,
2009-2015 147
10 Appendix 148
10.1 Methodology 148
10.1.1 Coverage 148
10.1.2 Secondary Research 149
10.1.3 Primary Research 149
10.1.4 Expert Panel Validation 149
10.2 About GBI Research 149
10.3 Contact Us 149
10.4 Disclaimer 150
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1.1 List of Tables
Table 1: Global Refining Industry, Type of Active Refineries by Region, 2009 14
Table 2: Global Refining Capacity, Additions Through New Refineries by Region (MMTPA), 2010-2015 16
Table 3: Global Refining Capacity, Addition Through Existing Refinery Expansions by Region (MMTPA), 2010-2015 16
Table 4: Global Refining Industry, Refining Capacity and Petroleum Products Demand (MMTPA), 2000-2009 17
Table 5: Global Refining Industry, Refinery Throughput (MMTPA) and Utilization Rate(%),
2000-2008 18
Table 6: US Gulf Coast, Quarterly Gross Refining Margins($/Barrel), 2004-2009 24
Table 7: US West Coast, Quarterly Gross Refining Margins($/Barrel), 2004-2009 26
Table 8: US East Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2009 28
Table 9: North West Europe, Quarterly Gross Refining Margins ($/Barrel), 2004-2009 30
Table 10: Singapore, Quarterly Gross Refining Margins ($/Barrel), 2004-2009 32
Table 11: Asia-Pacific, Refining Key Statistics, 2009 33
Table 12: Asia-Pacific, Refining Capacity by Country (MMTPA), 2000-2015 34
Table 13: Asia-Pacific Refinery Throughput (MMTPA) and Utilization Rate(%), 2000-2008 35
Table 14: Asia-Pacific, Planned Refinery Projects, 2009-2015 36
Table 15: Asia-Pacific, Refining Capacity by Country (MMTPA), 2000-2015 38
Table 16: China, Refinery Key Statistics, 2009 40
Table 17: China, Crude Distillation Unit Capacity (MMTPA), 2000-2015 41
Table 18: China, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 42
Table 19: China, Refining Capacity by Company (MMTPA), 2000-2015 44
Table 20: Japan, Refinery Key Statistics, 2009 44
Table 21: Japan, Crude Distillation Unit Capacity (MMTPA), 2000-2015 46
Table 22: Japan, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 47
Table 23: Japan, Refining Capacity by Company (MMTPA), 2000-2015 48
Table 24: India, Refinery Key Statistics, 2009 49
Table 25: India, Crude Distillation Unit Capacity (MMTPA), 2000-2015 50
Table 26: India, Refining Capacity by Company (MMTPA), 2000-2015 53
Table 27: Europe, Refinery Key Statistics, 2009 54
Table 28: Europe, Refining Capacity by Country (MMTPA), 2000-2015 55
Table 29: Europe, Planned Refinery Projects, 2009-2015 56
Table 30: Europe, Refining Capacity by Company (MMTPA), 2000-2015 57
Table 31: Russian Federation, Refinery Key Statistics, 2009 59
Table 32: Russian Federation, Crude Distillation Unit Capacity (MMTPA), 2000-2015 60
Table 33: Russian Federation, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 60
Table 34: Germany, Refinery Key Statistics, 2009 62
Table 35: Germany, Crude Distillation Unit Capacity (MMTPA), 2000-2015 63
Table 36: Italy, Refinery Key Statistics, 2009 65
Table 37: Italy, Crude Distillation Unit Capacity (MMTPA), 2000-2015 66
Table 38: North America, Refining Key Statistics, 2009 68
Table 39: North America, Refining Capacity by Country (MMTPA), 2000-2015 69
Table 40: North America, Refinery Throughput and Utilization, 2000-2008 70
Table 41: North America, Planned Refinery Projects, 2009-2015 70
Table 42: North America, Refining Capacity by Company (MMTPA), 2000-2015 72
Table 43: The US, Refinery Key Statistics, 2009 73
Table 44: The US, Crude Distillation Unit Capacity (MMTPA), 2000-2015 76
Table 45: The US, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 77
Table 46: The US, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 78
Table 47: The US, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 79
Table 48: The US, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 80
Table 49: The US, Crude Distillation Unit Capacity (MMTPA), 2000-2015 (Contd.) 81
Table 50: Canada, Refinery Key Statistics, 2009 83
Table 51: Canada, Crude Distillation Unit Capacity (MMTPA), 2000-2015 86
Table 52: Middle East And Africa, Refining Key Statistics, 2009 88
Table 53: Middle East And Africa, Refining Capacity by Country (MMTPA), 2000-2015 89
Table 54: Middle East and Africa, Refinery Throughput and Utilization, 2000-2008 90
Table 55: Middle East and Africa, Planned Refinery Projects, 2009-2015 91
Table 56: Middle East and Africa, Refining Capacity by Company (MMTPA), 2000-2015 93
Table 57: Saudi Arabia, Refinery Key Statistics, 2009 95
Table 58: Saudi Arabia, Crude Distillation Unit Capacity (MMTPA), 2000-2015 96
Table 59: Saudi Arabia, Refining Capacity by Company (MMTPA), 2000-2015 98
Table 60: Iran, Refinery Key Statistics, 2009 99
Table 61: Iran (Islamic Republic of), Crude Distillation Unit Capacity (MMTPA), 2000-2015 100
Table 62: Kuwait, Refinery Key Statistics, 2009 101
Table 63: Kuwait, Refining Capacity (MMTPA), 2000-2015 102
Table 64: South And Central America, Refining Key Statistics, 2009 104
Table 65: South and Central America, Refining Capacity by Country (MMTPA), 2000-2015 105
Table 66: South and Central America, Refinery Throughput (MMTPA) and Utilization (%),
2000-2008 106
Table 67: South and Central America, Planned Refinery Projects, 2009-2015 107
Table 68: South and Central America, Refining Capacity by Company (MMTPA), 2000-2015 108
Table 69: Brazil, Refinery Key Statistics, 2009 109
Table 70: Brazil, Crude Distillation Unit Capacity (MMTPA), 2000-2015 111
Table 71: Mexico, Refinery Key Statistics, 2009 113
Table 72: Mexico, Crude Distillation Unit Capacity (MMTPA), 2000-2015 114
Table 73: Venezuela, Refinery Key Statistics, 2009 116
Table 74: Venezuela, Crude Distillation Unit Capacity (MMTPA), 2000-2015 117
Table 75: ExxonMobil Corporation, Refinery Key Statistics, 2009 118
Table 76: ExxonMobil Corporation, Refining Capacity (MMTPA) by Country, 2000-2015 119
Table 77: Partnerships and Alliances in the Refining Business, ExxonMobil Corporation’s Directly Owned Refineries 120
Table 78: China Petroleum & Chemical Corporation, Refinery Key Statistics, 2009 121
Table 79: China Petroleum & Chemical Corporation, Refining Capacity (MMTPA) by Country, 2000-2015 121
Table 80: Partnerships and Alliances in Refining Business, China Petroleum & Chemical Corporation’s Directly Owned Refineries 122
Table 81: China Petroleum & Chemical Corporation, Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 123
Table 82: Royal Dutch Shell Plc, Refinery Key Statistics, 2009 124
Table 83: Royal Dutch Shell Plc, Refining Capacity (MMTPA) by Country, 2000-2015 124
Table 84: Partnerships and Alliances in Refining Business, Royal Dutch Shell Plc’s Directly Owned Refineries 125
Table 85: Royal Dutch Shell Plc, Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 127
Table 86: ConocoPhillips, Refinery Key Statistics, 2009 127
Table 87: ConocoPhillips, Refining Capacity (MMTPA) by Country, 2000-2015 128
Table 88: Partnerships and Alliances in Refining Business, ConocoPhillips’ Directly Owned Refineries 129
Table 89: ConocoPhillips, Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 130
Table 90: Petrochina Company Ltd., Refinery Key Statistics, 2009 130
Table 91: Petrochina Company Ltd, Refining Capacity (MMTPA) by Country, 2000-2015 131
Table 92: Partnerships and Alliances in Refining Business, Petrochina Company Ltd’s Directly Owned Refineries 131
Table 93: Petrochina Company Ltd, Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 133
Table 94: Valero Energy Corporation, Refinery Key Statistics, 2009 133
Table 95: Valero Energy Corporation, Refining Capacity (MMTPA) by Country, 2000-2015 134
Table 96: Partnerships and Alliances in Refining Business, Valero Energy Corporation’s Directly Owned Refineries 135
Table 97: Valero Energy Corporation, Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 135
Table 98: BP Plc, Refinery Key Statistics, 2009 136
Table 99: BP Plc, Refining Capacity (MMTPA) by Country, 2000-2015 136
Table 100: Partnerships and Alliances in Refining Business, BP Plc’s Directly Owned Refineries 137
Table 101: Total S.A., Refinery Key Statistics, 2009 138
Table 102: Total S.A., Refining Capacity (MMTPA) by Country, 2000-2015 138
Table 103: Partnerships and Alliances in Refining Business, Total S.A’s Directly Owned Refineries 140
Table 104: Total S.A, Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 141
Table 105: Petroleo Brasileiro S.A., Refinery Key Statistics, 2009 141
Table 106: Petroleo Brasileiro S.A., Refining Capacity (MMTPA) by Country, 2000-2015 142
Table 107: Partnerships and Alliances in Refining Business, Petroleo Brasileiro S.A’s Directly Owned Refineries 143
Table 108: Petroleo Brasileiro S.A., Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 144
Table 109: Petroleos De Venezuela S.A., Refinery Key Statistics, 2009 145
Table 110: Petroleos De Venezuela S.A., Refining Capacity (MMTPA) by Country, 2000-2015 145
Table 111: Partnerships and Alliances in Refining Business, Petroleos De Venezuela S.A’s Directly Owned Refineries 146
Table 112: Petroleos De Venezuela S.A., Refining Capacities (MMTPA) of Planned Refinery Projects, 2009-2015 147
1.2 List of Figures
Figure 1: Global Refining Industry, Number of Active Refineries by Country, 2009 12
Figure 2: Global Refining Industry, Number of Active Refineries by Type, 2009 13
Figure 3: Global Refining Industry, Type of Active Refineries by Region, 2009 13
Figure 4: Average Refinery Nelson Complexity Index (NCI) by Region, 2009 14
Figure 5: Global Refining Capacity (MMTPA) by Region and Year-on-Year Growth Rate(%), 2000-2015 15
Figure 6: Global Refining Industry, Refining Capacity and Petroleum Products Demand (MMTPA), 2000-2009 17
Figure 7: Global Refining Industry, Refinery Throughput (MMTPA) and Utilization Rate(%),
2000-2008 18
Figure 8: Global Refining Industry, Refining Capacity Share (%) by Company, 2009 19
Figure 9: Global Refining Industry, Refining Capacity Growth in National and International Oil Companies (%) 2009-2015 20
Figure 10: US Gulf Coast, Quarterly Gross Refining Margins($/Barrel), 2004-2009 23
Figure 11: US West Coast, Quarterly Gross Refining Margins($/Barrel), 2004-2009 25
Figure 12: US East Coast, Quarterly Gross Refining Margins($/Barrel), 2004-2009 27
Figure 13: North West Europe, Quarterly Gross Refining Margins($/Barrel), 2004-2009 29
Figure 14: Singapore, Quarterly Gross Refining Margins($/Barrel), 2004-2009 31
Figure 15: Asia-Pacific, Refining Capacity by Country (MMTPA), 2000-2015 34
Figure 16: Asia-Pacific Refinery Throughput (MMTPA) and Utilization Rate(%), 2000-2008 35
Figure 17: Asia-Pacific, Refining Capacity by Company (MMTPA), 2000-2015 38
Figure 18: China, Refined Product Production (%) by Type, 2009 40
Figure 19: China, Refined Product Consumption (%) by Type, 2009 40
Figure 20: China, Refining Capacity (%) by Company, 2009 43
Figure 21: China, Refining Capacity by Company (MMTPA), 2000-2015 43
Figure 22: Japan, Refined Product Production by Type, 2009 45
Figure 23: Japan, Refined Product Consumption by Type, 2009 45
Figure 24: Japan, Refining Capacity Share by Company (%), 2009 47
Figure 25: Japan, Refining Capacity by Company (MMTPA), 2000-2015 48
Figure 26: India, Refined Product Production by Type, 2009 49
Figure 27: India, Refined Product Consumption by Type, 2009 50
Figure 28: India, Refining Capacity Share by Company (%), 2009 52
Figure 29: India, Refining Capacity by Company (MMTPA), 2000-2015 52
Figure 30: Europe, Refining Capacity by Country (MMTPA), 2000-2015 55
Figure 31: Europe, Refinery Throughput (MMTPA) and Utilization (%), 2000-2008 56
Figure 32: Europe, Refining Capacity by Company (MMTPA), 2000-2015 58
Figure 33: Russian Federation, Refining Capacity Share by Company (%), 2009 61
Figure 34: Germany, Refined Product Production by Type, 2009 62
Figure 35: Germany, Refined Product Consumption by Type, 2009 62
Figure 36: Germany, Refining Capacity Share by Company (%), 2009 64
Figure 37: Germany, Refining Capacity by Company (MMTPA), 2000-2015 64
Figure 38: Italy, Refined Product Production by Type, 2009 65
Figure 39: Italy, Refined Product Consumption by Type, 2009 65
Figure 40: Italy, Refining Capacity Share by Company (%), 2009 67
Figure 41: Italy, Refining Capacity by Company (MMTPA), 2000-2015 67
Figure 42: North America, Refining Capacity by Country (MMTPA), 2000-2015 69
Figure 43: North America, Refinery Throughput (MMTPA) and Utilization (%), 2000-2008 70
Figure 44: North America, Refining Capacity by Company (MMTPA), 2000-2015 72
Figure 45: The US, Refined Product Production by Type, 2009 74
Figure 46: The US, Refined Product Consumption by Type, 2009 75
Figure 47: The US, Refining Capacity Share by Company (%), 2009 82
Figure 48: The US, Refining Capacity by Company (MMTPA), 2000-2015 82
Figure 49: Canada, Refined Product Production by Type, 2009 84
Figure 50: Canada, Refined Product Consumption by Type, 2009 84
Figure 51: Canada, Refining Capacity Share by Company (%), 2009 86
Figure 52: Canada, Refining Capacity by Company (MMTPA), 2000-2015 87
Figure 53: Middle East and Africa, Refining Capacity by Country (MMTPA), 2000-2015 89
Figure 54: Middle East and Africa, Refinery Throughput (MMTPA) and Utilization (%), 2000-2008 90
Figure 55: Middle East and Africa, Refining Capacity by Company (MMTPA), 2000-2015 93
Figure 56: Saudi Arabia, Refined Product Production (%) by Type, 2009 95
Figure 57: Saudi Arabia Refined Product Consumption (%) by Type, 2009 96
Figure 58: Saudi Arabia, Refining Capacity Share by Company (%), 2009 97
Figure 59: Saudi Arabia, Refining Capacity by Company (MMTPA), 2000-2015 98
Figure 60: Iran, Refined Product Production (%) by Type, 2009 99
Figure 61: Iran, Refined Product Consumption (%) by Type, 2009 100
Figure 62: Iran, Refining Capacity by company (MMTPA), 2000-2015 101
Figure 63: Kuwait, Refined Product Production (%) by Type, 2009 102
Figure 64: Kuwait Refined Product Consumption (%) by Type, 2009 102
Figure 65: Kuwait, Refining Capacity by Company (MMTPA), 2000-2015 103
Figure 66: South and Central America, Refining Capacity by Country (MMTPA), 2000-2015 105
Figure 67: South and Central America, Refinery Throughput (MMTPA) and Utilization (%),
2000-2008 106
Figure 68: South and Central America, Refining Capacity by Company (MMTPA), 2000-2015 108
Figure 69: Brazil, Refined Product Production(%) by Type, 2009 109
Figure 70: Brazil Refined Product Consumption(%) by Type, 2009 110
Figure 71: Brazil, Refining Capacity Share (%) by Company, 2009 112
Figure 72: Brazil, Refining Capacity by Company (MMTPA), 2000-2015 112
Figure 73: Mexico, Refined Product Production (%) by Type, 2009 113
Figure 74: Mexico Refined Product Consumption (%) by Type, 2009 114
Figure 75: Mexico, Refining Capacity by Company (MMTPA), 2000-2015 115
Figure 76: Venezuela, Refined Product Production by Type, 2009 116
Figure 77: Venezuela Refined Product Consumption by Type, 2009 116
Figure 78: Venezuela, Refining Capacity by Company (MMTPA), 2000-2015 117
Figure 79: ExxonMobil Corporation, Refining Capacity (MMTPA) by Country, 2000-2015 119
Figure 80: China Petroleum & Chemical Corporation, Refining Capacity (MMTPA) by Country, 2000-2015 122
Figure 81: Royal Dutch Shell Plc, Refining Capacity (MMTPA) by Country, 2000-2015 125
Figure 82: ConocoPhillips, Refining Capacity (MMTPA) by Country, 2000-2015 128
Figure 83: Petrochina CompanyLtd, Refining Capacity (MMTPA) by Country, 2000-2015 131
Figure 84: Valero Energy Corporation, Refining Capacity (MMTPA) by Country, 2000-2015 134
Figure 85: BP Plc, Refining Capacity (MMTPA) by Country, 2000-2015 137
Figure 86: Total S.A., Refining Capacity (MMTPA) by Country, 2000-2015 139
Figure 87: Petroleo Brasileiro S.A., Refining Capacity (MMTPA) by Country, 2000-2015 142
Figure 88: Petroleos De Venezuela S.A., Refining Capacity (MMTPA) by Country, 2000-2015 145
Figure 89: GBI Research Methodology 148
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