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Supply, oil use trends reshape future of refining

02/23/2009
Growth in production of light hydrocarbons combines with shifting patterns of oil consumption and new transportation options to reshape the refining industry’s future.Rising production of biofuels, especially ethanol, receives much public attention because of the international political push for petroleum substitutes produced from renewable materials.Less noticed but volumetrically more important is rapid growth in supply of natural gas liquids, especially from members of the Organization of Petroleum Exporting Countries. The International Energy Agency expects NGL supply from OPEC producers this year to average 5 million b/d. That’s down by 600,000 b/d from what IEA was proje...
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