CONVERSION INDEX HELPS REFINER ASSESS RELATIVE PROFITABILITY
Norman E. Duncan NED & Associates Inc. Houston A refiner can locate his refinery competitively in relation to his neighbors by constructing a profitability profile. Using this profile, the refiner can estimate the profitability of producing shifts in his relative conversion position. The United States had 192 operating refineries as of Jan. 1, 1992 (OGJ, Dec. 23, 1991, p. 33). They are a diverse lot, as the following analysis indicates: Twelve have greater than 250,000 b/cd crude capacity.