US refining outlook rosier than it seems

12/03/2012
Sean DeGon IHS Downstream Energy Consulting Houston The outlook for US refining isn't as bleak as US demand trends and economic headlines suggest, but it also is unlikely soon to return to that Golden Age of refining 2005-07. Refined-product demand in the US is on a slow and steady decline, but thanks to developments in shale oil and gas in recent years, a remarkable turnaround has occurred in the trend for domestic crude and gas production, resulting in lower costs for US refiners. The corresponding timing of rapidly increasing demand, changing regulations, and a difficult and costly project environment in Latin America, has led to an outlet for increased production from US refineries, p...
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