Refining Industry to 2016 - Increasing Margins and Rise in Product Demand Set to Drive Capacity Expansions in Asia and Middle East

Report Summary

GBI Research's report, “Refining Industry to 2016 - Increasing Margins and Rise in Product Demand Set to Drive Capacity Expansions in Asia and Middle East"" provides key information and analysis on the market opportunities in the refining market. The report provides the latest information on the refining capacity, throughput and utilization rate in various geographies. It gives detailed assessment of the market forces influencing the refining industry. The report also provides analysis of key countries in various geographies which includes India, Japan, China, Germany, Italy, Russian Federation, the US, Canada, Saudi Arabia, Iran, Kuwait, Brazil, Mexico and Venezuela. It also provides information on the competitive overview of various geographies. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research's team of industry experts. 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. 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.

Scope

• Qualitative analysis of market drivers, key trends and factors affecting the future growth of refining industry.
• Region wise (Asia-Pacific, Europe, Middle East and Africa, North America, South and Central America) refining capacity from 2000–2010, forecast forward for 6 years to 2016.
• Refining capacity of the key countries in each region from 2000–2010, forecast foreword for 6 years to 2016.
• Key topics covered include analysis of competitive landscape and information about the throughput and utilization rate of each region.
• Competitive landscape of the modules market in each of the countries.

Reasons to buy

• Exploit growth opportunities in the global refining industry.
• Develop business strategies by understanding the trends and developments that are driving the global refining industry.
• Increase future revenues and profitability with the help of insights on the future opportunities and critical success factors in the global refining industry
• What is the geographic and competitive landscape analysis of refining industry? – Identify, understand and capitalize.
• Develop key strategic initiatives by understanding key issues and challenges faced by refining industry in different geographies.
• Make informed business decisions from the economical and technological information provided about the refining industry.

Table of Contents

1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 7

2 Introduction 9
2.1 GBI Research Report Guide 9

3 Global Refining Industry 10
3.1 Industry Overview 10
3.2 Global Refining Industry Growth, 2000-2016 13
3.3 Global Refining Capacity and Petroleum Product Demand 15
3.4 Global Refining Industry Market Share Analysis 17
3.5 Global Refining Industry: Key Trends and Drivers 18
3.5.1 Global Refining Industry, Major Trends 18
3.6 Global Refining - Factors Challenging Future Growth 19
3.6.1 Regulatory Issues and High Investment Costs 19
3.6.2 New Capabilities to Process Heavy-Sour Crude 19
3.6.3 Uncertainty in the Market Dynamics 19
3.7 Refinery Costs and Margins 19
3.7.1 Gross Refining Margins Overview 19
3.7.2 Gross Refining Margins Trends 19
3.7.3 Gross Refining Margins Trends, US Gulf Coast, 2004-10 20
3.7.4 Gross Refining Margins Trends, US West Coast, 2004-2010 22
3.7.5 Gross Refining Margins Trends, US East Coast, 2004-2010 24
3.7.6 Gross Refining Margins Trends, North West Europe, 2004-2010 26
3.7.7 Gross Refining Margin Trends, Singapore, 2004-2010 28

4 Asia-Pacific Refining Industry – Regional Market Scenario 30
4.1 Asia-Pacific Refining Industry, Market Overview 30
4.1.1 Growth of Refining Industry in Asia-Pacific, 2000-2016 31
4.1.2 Asia-Pacific Refinery Throughput and Utilization Rates, 2000-2009 33
4.1.3 Key Upcoming Refineries in Asia-Pacific, 2011-2015 34
4.1.4 Asia-Pacific Refining industry – Competitive Overview 35
4.2 Asia-Pacific Refining Industry, Key Issues and Challenges 37
4.2.1 Lower Refining Margins for Asia-Pacific Refiners due to Regulated Price Structure 37
4.2.2 High Sulfur Content in Crude Feedstock is Forcing Refiners to Upgrade Refineries with Secondary Conversion Units 37
4.2.3 Strict Environmental Regulations Forcing Refiners to Make High Investments to Upgrade Refineries to Produce Cleaner Fuels 37
4.2.4 Changing Product Consumption Pattern 37
4.3 Asia-Pacific Refining Industry, Geographic Analysis 38
4.3.1 China 39
4.3.2 Japan 45
4.3.3 India 50

5 Europe Refining Industry – Regional Market Scenario 54
5.1 Europe Refining Industry, Market Overview 54
5.1.1 Growth of Refining Industry in Europe, 2000-2016 55
5.1.2 Europe Refinery Throughput and Utilization Rates, 2000-2009 57
5.1.3 Key Upcoming Refineries in Europe, 2011-2015 58
5.1.4 Europe Refining industry – Competitive Overview 59
5.2 Europe Refining Industry, Key Issues and Challenges 61
5.2.1 Dependence on Crude Imports from Russia 61
5.2.2 Changing Consumption Pattern Drawing Refiners to Change Refinery Configurations 61
5.2.3 Stringent Environmental Regulations and Shift towards Cleaner, Efficient Fuels Actuating Investments in Refinery Upgradation 61
5.2.4 Shortage of Hydrogen Supply for Hydrotreating Units 61
5.3 Europe Refining Industry, Geographic Analysis 62
5.3.1 Russia 63
5.3.2 Germany 66
5.3.3 Italy 70

6 North America Refining Industry – Regional Market Scenario 74
6.1 North America Refining Industry, Market Overview 74
6.1.1 Growth of Refining Industry in North America, 2000-2016 75
6.1.2 North America Refinery Throughput and Utilization Rates, 2000-2009 77
6.1.3 Key Upcoming Refineries in North America, 2011-2015 78
6.1.4 North America Refining industry – Competitive Overview 79
6.2 North America Refining Industry, Key Issues and Challenges 81
6.2.1 Stringent Regulations and High Investments Restrain the Installation of New Refineries 81
6.2.2 Deteriorating Quality of Crude Oil Supply Poses Challenge for North American Refineries 81
6.2.3 Rise in Asian and Middle East Refineries Affecting the North American Oil Refining Companies 81
6.3 North America Refining Industry, Geographic Analysis 82
6.3.1 The US 83
6.3.2 Canada 91

7 Middle East and Africa Refining Industry – Regional Market Scenario 95
7.1 Middle East and Africa Refining Industry, Market Overview 95
7.1.1 Growth of Refining Industry in Middle East and Africa, 2000-2016 96
7.1.2 Middle East and Africa Refinery Throughput and Utilization Rates, 2000-2009 98
7.1.3 Key Upcoming Refineries in Middle East and Africa, 2011-2015 99
7.1.4 Middle East and Africa Refining industry – Competitive Overview 101
7.2 Middle East and Africa Refining Industry, Key Issues and Challenges 103
7.2.1 Strong Regional Gasoline Demand Forcing Refiners to Upgrade Refineries 103
7.2.2 Operational Difficulties and Strict Market Regulations Continue to Restrain African Refiners 103
7.2.3 High Shipping and Pipeline Transport Cost of Crude Oil Affect Refinery Profitability 103
7.3 Middle East and Africa Refining Industry, Geographic Analysis 104
7.3.1 Saudi Arabia 105
7.3.2 Iran 108
7.3.3 Kuwait 111

8 South and Central America Refining Industry – Regional Market Scenario 114
8.1 South and Central America Refining Industry, Market Overview 114
8.1.1 Growth of Refining Industry in South and Central America, 2000-2016 115
8.1.2 South and Central America Refinery Throughput and Utilization Rates, 2000-2009 117
8.1.3 Key Upcoming Refineries in South and Central America, 2011-2015 118
8.1.4 South and Central America Refining industry – Competitive Overview 119
8.2 South and Central America Refining Industry, Geographic Analysis 121
8.2.1 Brazil 122
8.2.2 Mexico 126
8.2.3 Venezuela 130

9 Appendix 133
9.1 Abbreviations 133
9.2 Market Definition 134
9.3 Methodology 134
9.3.1 Coverage 134
9.3.2 Secondary Research 134
9.3.3 Primary Research 135
9.3.4 Expert Panel Validation 135
9.4 Contact Us 135
9.5 Disclaimer 135

List of Tables

Table 1: Refining Industry, Global, Number of Active Refineries by Country, 2010 10
Table 2: Refining Industry, Global, Number of Active Refineries by Type, 2010 11
Table 3: Refining Industry, Global, Type of Active Refineries by Region, 2010 12
Table 4: Refining Industry, Global, Refining Capacity (MMtpa) and Year-on-Year Growth Rate (%), 2000-2016 14
Table 5: Refining Industry, Global, Refining Capacity and Petroleum Products Demand (MMtpa), 2000-2010 16
Table 6: Refining Industry, Global, Refining Capacity Share Percentage by Company, %, 2010 17
Table 7: Refining industry, US Gulf Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 21
Table 8: Refining industry, US West Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 23
Table 9: Refining industry, US East Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 25
Table 10: Refining industry, North West Europe, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 27
Table 11: Refining industry, Singapore, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 29
Table 12: Refining Industry, Asia-Pacific, Key Statistics, 2010 30
Table 13: Refining Industry, Asia-Pacific, Refining Capacity by Country (MMtpa),  2000-2016 32
Table 14: Refining Industry, Refinery Throughput (MMtpa) and Utilization Rate (%),  2000-2009 33
Table 15: Refining Industry, Asia-Pacific, Planned Refinery Projects, 2011-2015 34
Table 16: Refining Industry, Asia-Pacific, Refining Capacity by Company (MMtpa), 2000-2016 36
Table 17: Refining Industry, Asia-Pacific, Refining Capacity Share (%), 2010 vs. 2016 38
Table 18: Refining Industry, China, Refining Capacity (MMtpa), 2000-2016 40
Table 19: Refining Industry, China, List of Active Refineries by Capacity (MMtpa), 2000-2010 41
Table 20: Refining Industry, China, Refined Product Production and Consumption by Type, 2010 44
Table 21: Refining Industry, Japan, Refining Capacity (MMtpa), 2000-2016 46
Table 22: Refining Industry, Japan, List of Active Refineries and Capacity (MMtpa), 2000-2010 47
Table 23: Refining Industry, Japan, Refined Product Production and Consumption by Type, 2010 49
Table 24: Refining Industry, India, Refining Capacity (MMtpa), 2000-2016 51
Table 25: Refining Industry, India, List of Active Refineries and Capacity (MMtpa), 2000-2010 52
Table 26: Refining Industry, India, Refined Product Production and Consumption by Type, 2010 53
Table 27: Refining Industry, Europe, Key Statistics, 2010 54
Table 28: Refining Industry, Europe, Refining Capacity by Country (MMtpa), 2000-2016 56
Table 29: Refining Industry, Europe, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 57
Table 30: Refining Industry, Europe, Planned Refinery Projects, 2011-2015 58
Table 31: Refining Industry, Europe, Refining Capacity by Company (MMtpa), 2000-2016 60
Table 32: Refining Industry, Europe, Refining Capacity Share (%), 2010 vs. 2016 62
Table 33: Refining Industry, Russia, Refining Capacity (MMtpa), 2000-2016 64
Table 34: Refining Industry, Russia, List of Active Refineries and Capacity (MMtpa), 2000-2010 64
Table 35: Refining Industry, Germany, Refining Capacity (MMtpa), 2000-2016 67
Table 36: Refining Industry, Germany, List of Active Refineries and Capacity (MMtpa), 2000-2010 68
Table 37: Refining Industry, Germany, Refined Product Production and Consumption by Type, 2010 69
Table 38: Refining Industry, Italy, Refining Capacity (MMtpa), 2000-2016 71
Table 39: Refining Industry, Italy, List of Active Refineries and Capacity (MMtpa), 2000-2010 72
Table 40: Refining Industry, Italy, Refined Product Production and Consumption by Type, 2010 73
Table 41: Refining Industry, North America, Key Statistics, 2010 74
Table 42: Refining Industry, North America, Refining Capacity by Country (MMtpa),  2000-2016 76
Table 43: Refining Industry, North America, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 77
Table 44: Refining Industry, North America Planned Refinery Projects, 2011-2015 78
Table 45: Refining Industry, North America, Refining Capacity by Company (MMtpa), 2000-2016 80
Table 46: Refining Industry, North America, Refining Capacity Share, (%), 2010 vs. 2016 82
Table 47: Refining Industry, The US, Refining Capacity (MMtpa), 2000-2016 84
Table 48: Refining Industry, The US, List of Active Refineries and Capacity (MMtpa), 2000-2010 84
Table 49: Refining Industry, The US, Refined Product Production and Consumption (%) by Type, 2010 90
Table 50: Refining Industry, Canada, Refining Capacity (MMtpa), 2000-2016 92
Table 51: Refining Industry, Canada, List of Active Refineries and Capacity (MMtpa), 2000-2010 92
Table 52: Refining Industry, Canada, Refined Product Production and Consumption (%) by Type, 2010 94
Table 53: Refining Industry, Middle East and Africa, Key Statistics, 2010 95
Table 54: Refining Industry, Middle East and Africa, Refining Capacity by Country (MMtpa), 2000-2016 97
Table 55: Refining Industry, Middle East and Africa, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 98
Table 56: Refining Industry, Middle East and Africa, Planned Refinery Projects, 2011-2015 99
Table 57: Refining Industry, Middle East and Africa, Refining Capacity by Company (MMtpa), 2000-2016 102
Table 58: Refining Industry, Middle East and Africa, Refining Capacity Share (%), 2010 vs. 2016 104
Table 59: Refining Industry, Saudi Arabia, Refining Capacity (MMtpa), 2000-2016 106
Table 60: Refining Industry, Saudi Arabia, List of Active Refineries and Capacity (MMtpa), 2000-2010 106
Table 61: Refining Industry, Saudi Arabia, Refined Product Production and Consumption (%) by Type, 2010 107
Table 62: Refining Industry, Iran, Refining Capacity (MMtpa), 2000-2016 109
Table 63: Refining Industry, Iran, List of Active Refineries and Capacity (MMtpa), 2000-2010 109
Table 64: Refining Industry, Iran, Refined Product Production and Consumption (%) by Type, 2010 110
Table 65: Refining Industry, Kuwait, Refining Capacity (MMtpa), 2000-2016 112
Table 66: Refining Industry, Kuwait, List of Active Refineries and Capacity (MMtpa), 2000-2010 112
Table 67: Refining Industry, Kuwait, Refined Product Production and Consumption (%) by Type, 2010 113
Table 68: Refining Industry South and Central America, Key Statistics, 2010 114
Table 69: Refining Industry, South and Central America, Refining Capacity by Country (MMtpa), 2000-2016 116
Table 70: Refining Industry, South and Central America, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 117
Table 71: Refining Industry, South and Central America Planned Refinery Projects,  2011-2015 118
Table 72: Refining Industry, South and Central America, Refining Capacity by Company (MMtpa), 2000-2016 120
Table 73: Refining Industry, South and Central America, Refining Capacity Share, (%), 2010 vs. 2016 121
Table 74: Refining Industry, Brazil, Refining Capacity (MMtpa), 2000-2016 123
Table 75: Refining Industry, Brazil, List of Active Refineries and Capacity (MMtpa), 2000-2010 124
Table 76: Refining Industry, Brazil, Refined Product Production and Consumption (%) by Type, 2010 125
Table 77: Refining Industry, Mexico, Refining Capacity (MMtpa), 2000-2016 127
Table 78: Refining Industry, Mexico, List of Active Refineries and Capacity (MMtpa), 2000-2010 128
Table 79: Refining Industry, Mexico, Refined Product Production and Consumption (%) by Type, 2010 129
Table 80: Refining Industry, Venezuela, Refining Capacity (MMtpa), 2000-2016 131
Table 81: Refining Industry, Venezuela, List of Active Refineries and Capacity (MMtpa), 2000-2010 131
Table 82: Refining Industry, Venezuela, Refined Product Production and Consumption (%) by Type, 2010 132
Table 83: Abbreviations 133

List of Figures

Figure 1: Refining Industry, Global, Number of Active Refineries by Country, 2010 10
Figure 2: Refining Industry, Global, Number of Active Refineries by Type, 2010 11
Figure 3: Refining Industry, Global, Type of Active Refineries by Region, 2010 12
Figure 4: Refining Industry, Global, Refining Capacity (MMtpa) and Year-on-Year Growth Rate (%), 2000-2016 13
Figure 5: Refining Industry, Global, Refining Capacity and Petroleum Products Demand (MMtpa), 2000-2010 15
Figure 6: Refining Industry, Global, Refining Capacity Share by Company, %, 2010 17
Figure 7: Refining industry, US Gulf Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 20
Figure 8: Refining industry, US West Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 22
Figure 9: Refining industry, US East Coast, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 24
Figure 10: Refining industry, North West Europe, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 26
Figure 11: Refining industry, Singapore, Quarterly Gross Refining Margins ($/Barrel), 2004-2010 28
Figure 12: Refining Industry, Asia-Pacific, Refining Capacity by Country (MMtpa),  2000-2016 31
Figure 13: Refining Industry, Asia-Pacific, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 33
Figure 14: Refining Industry, Asia-Pacific, Refining Capacity by Company (MMtpa),  2000-2016 35
Figure 15: Refining Industry, Asia-Pacific, Refining Capacity Share (%), 2010 vs. 2016 38
Figure 16: Refining Industry, China, Refining Capacity (MMtpa), 2000-2016 39
Figure 17: Refining Industry, China, Refined Product Production and Consumption by Type, 2010 44
Figure 18: Refining Industry, Japan, Refining Capacity (MMtpa), 2000-2016 45
Figure 19: Refining Industry, Japan, Refined Product Production and Consumption by Type, 2010 49
Figure 20: Refining Industry, India, Refining Capacity (MMtpa), 2000-2016 50
Figure 21: Refining Industry, India, Refined Product Production and Consumption by Type, 2010 53
Figure 22: Refining Industry, Europe, Refining Capacity by Country (MMtpa), 2000-2016 55
Figure 23: Refining Industry, Europe, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 57
Figure 24: Refining Industry, Europe, Refining Capacity by Company (MMtpa), 2000-2016 59
Figure 25: Refining Industry, Europe, Refining Capacity Share (%), 2010 vs. 2016 62
Figure 26: Refining Industry, Russia, Refining Capacity (MMtpa), 2000-2016 63
Figure 27: Refining Industry, Germany, Refining Capacity (MMtpa), 2000-2016 66
Figure 28: Refining Industry, Germany, Refined Product Production and Consumption by Type, 2010 69
Figure 29: Refining Industry, Italy, Refining Capacity (MMtpa), 2000-2016 70
Figure 30: Refining Industry, Italy, Refined Product Production and Consumption by Type, 2010 73
Figure 31: Refining Industry, North America, Refining Capacity by Country (MMtpa), 2000-2016 75
Figure 32: Refining Industry, North America, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 77
Figure 33: Refining Industry, North America, Refining Capacity by Company (MMtpa), 2000-2016 79
Figure 34: Refining Industry, North America, Refining Capacity Share, (%), 2010 vs. 2016 82
Figure 35: Refining Industry, The US, Refining Capacity (MMtpa), 2000-2016 83
Figure 36: Refining Industry, The US, Refined Product Production and Consumption (%) by Type, 2010 Vs 2016 90
Figure 37: Refining Industry, Canada, Refining Capacity (MMtpa), 2000-2016 91
Figure 38: Refining Industry, Canada, Refined Product Production and Consumption (%) by Type, 2010 94
Figure 39: Refining Industry, Middle East and Africa, Refining Capacity by Country (MMtpa), 2000-2016 96
Figure 40: Refining Industry, Middle East and Africa, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 98
Figure 41: Refining Industry, Middle East and Africa, Refining Capacity by Company (MMtpa), 2000-2016 101
Figure 42: Refining Industry, Middle East and Africa, Refining Capacity Share (%), 2010 vs. 2016 104
Figure 43: Refining Industry, Saudi Arabia, Refining Capacity (MMtpa), 2000-2016 105
Figure 44: Refining Industry, Saudi Arabia, Refined Product Production and Consumption (%) by Type, 2010 107
Figure 45: Refining Industry, Iran, Refining Capacity (MMtpa), 2000-2016 108
Figure 46: Refining Industry, Iran, Refined Product Production and Consumption (%) by Type, 2010 110
Figure 47: Refining Industry, Kuwait, Refining Capacity (MMtpa), 2000-2016 111
Figure 48: Refining Industry, Kuwait, Refined Product Production and Consumption (%) by Type, 2010 113
Figure 49: Refining Industry, South and Central America, Refining Capacity by Country (MMtpa), 2000-2016 115
Figure 50: Refining Industry, South and Central America, Refinery Throughput (MMtpa) and Utilization Rate (%), 2000-2009 117
Figure 51: Refining Industry, South and Central America, Refining Capacity by Company (MMtpa), 2000-2016 119
Figure 52: Refining Industry, South and Central America, Refining Capacity Share, (%), 2010 vs. 2016 121
Figure 53: Refining Industry, Brazil, Refining Capacity (MMtpa), 2000-2016 122
Figure 54: Refining Industry, Brazil, Refined Product Production and Consumption (%) by Type, 2010 125
Figure 55: Refining Industry, Mexico, Refining Capacity (MMtpa), 2000-2016 126
Figure 56: Refining Industry, Mexico, Refined Product Production and Consumption (%) by Type, 2010 129
Figure 57: Refining Industry, Venezuela, Refining Capacity (MMtpa), 2000-2016 130
Figure 58: Refining Industry, Venezuela, Refined Product Production and Consumption (%) by Type, 2010 132