CERA: Refiners will face significant regional product imbalances

04/04/2005
During the next few years, worldwide refiners will confront the challenges of mismatched regional supply and demand for refined products, tightening fuel specifications, less excess capacity, and changes in crude quality, according to speakers at a conference hosted by Cambridge Energy Research Associates in Houston Feb. 15.Globally, the refining challenges fall into three categories, according to James Smith, director for CERA. The first challenge is supplying growing volumes of light products."Recent demand growth varied by region," Smith said. "But 2004's demand surprise is a global phenomenon and refiners in every region are facing the need to supply increasing volumes of product....
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