Research and Markets: Global Top Five High Growth Oil Refining Markets Report: Analysis of Capacity, Demand, Supply, Margin and Competitive Scenario

DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/d49ee5/global_top_five_hi) has
announced the addition of GlobalData's new report "Global Top Five High Growth
Oil Refining Markets: Analysis of Capacity, Demand, Supply, Margin and
Competitive Scenario" to their offering.

"Global Top Five High Growth Oil Refining Markets: Analysis of Capacity, Demand,
Supply, Margin and Competitive Scenario", is the latest report from GlobalData,
the industry analysis specialists, that offers comprehensive information on the
refining market in five countries. Brazil, China, India, Iran and Saudi Arabia,
the major refining markets which are expected to witness highest percentage
growth in their refining capacities during the period 2009 to 2013 are included
in this report. The report is an in-depth source of information on all active
and planned refineries, petroleum product demand-supply scenario, refining
margins, key trends and issues along with market share analysis of major
refining companies in these countries.

According to the report, the cumulative refining capacity of these countries
accounted for 18.3% of global refining capacity in 2008 but refining capacity
expansions in these countries is expected to contribute around 44% to global
refining capacity additions during 2009-13.

While new refineries in China will cater mainly to its domestic demand, the
Middle-East and India plan to transform themselves into major refining and
petroleum product exporting hubs. Brazil is expanding its refining capacity
mainly to process its domestic heavy crude oil whose production is rapidly
increasing.

Economic Slowdown Has Decreased Global Refinery Utilization

Global refinery throughput and utilization dipped from the third quarter of 2008
and has not recovered till the third quarter of 2009. Decreased petroleum
product demand in the major consuming markets, especially the US, has affected
refinery throughputs globally. Global refinery utilization averaged 85% in 2008,
a decrease of 1% over the previous year. Increase in petroleum product demand
has not been able to increase the refinery utilization rate. The major reason is
commissioning of new refineries in countries like India, China, Vietnam, Algeria
and Qatar. Refining overcapacity will keep refinery utilization at a lower level
and in 2009 the refinery utilization is expected to decrease further. The
refinery utilization in top five high growth refinery markets is also expected
to decline in 2009 but with lesser effects.

National Oil Companies Will Drive Refining Capacity Additions Till 2013

Decreased petroleum product demand, dwindling refinery margins and high
comparatively high construction cost have hampered refinery projects globally.
Most companies have either cancelled projects or have delayed their projects for
better industry scenario. However, national oil companies are going ahead with
their refinery projects with long term strategic objectives. National oil
companies in the Middle East are investing in refineries, to be able to process
domestic heavy crude and reduce the import of light and middle distillates. As
it is very difficult to construct new refineries in North America and Europe,
the Middle East can become a major petroleum product supplier to these countries
rather than crude oil supplier. The national oil companies in Brazil and
Venezuela are also investing in their refineries to process more of domestic
heavy crude oils. National Oil companies in India and China are targeting long
term energy security and also investing to tap export markets.

Figure 1: National Oil Companies and Private Multinational Companies, Refining
Capacity (MMTPA) and Growth in Refining Capacity (%) till 2013

Source: Global Markets Direct

Refineries of Top Five High Growth Refining Markets Are High In Capacity but Low
in Complexity. The top five high growth refinery markets accounts for total
18.3% of global refining capacity. The average size of refineries in these
countries at 8.08 Million Metric Tonnes per Annum (MMTPA) is above global
average of 6.7 MMTPA. However, the complexity is lower than the global average.
In 2008, the average complexity of the refineries in these countries was 4.6
while the global average was 5.7.

Fluctuating Crude Oil Price and Refinery Margins Have Created an Uncertainty in
the Market

The oil and gas market is very dynamic and the oil prices and refinery margins
have never been stable but the fluctuations in prices and margins seen in the
last couple of years have been unprecedented. The WTI crude price was close to
$145/barrel in July 2008 which dropped to $30.3/barrel on 23 December, 2009 - a
major decline of $114.7/barrel in less than six months. Similar pattern were
shown by refinery margins across different markets. Economic slowdown in the
financial sector has also made it difficult to get finance for capital intensive
refinery projects. Though the margins and prices are little stable now,
companies are still planning cautiously and going with the policy of 'wait and
watch' until the market stabilizes.

Figure 2: Cracking Refinery Margins ($/Barrel), 2003-13

Reasons to buy

* The report provides a detailed scenario of refining markets in Brazil, China,
India, Iran and Saudi Arabia
* The report will enhance your decision making capability in a more rapid and
time sensitive manner
* The research will allow you to identify prospective investment targets through
a comprehensive update and discussion on new refineries, major processing units
and capacity expansions of existing units in these five, high growth markets
* Find the most attractive investment destination(s) for your business by
comparing refining industries in these high growth refining markets.
* Decide on market entry strategies in specific markets with the help of an
up-to-date review of existing and planned capacity expansions and secondary
conversion abilities for 124 active and planned refineries across five countries

* Plan your future investments in refining business by identifying gross
refinery margin trends in each of the two major refining markets since 2003 and
forecasts till 2013
* Detailed analysis of major company's refining businesses in these countries
will help in identifying growth and strategies of these companies
* Gain insights into the strengths and weaknesses of your competitors based on
market shares of key refining companies in these markets
* Details of foreign investments and joint ventures will also help in
identifying the entry prospects in the refining industry in these markets

Key Topics Covered:

1 Table of Contents

2 Executive Summary

3 Global Top Five High Growth Refining Markets, Comparative Outlook

4 Global Top Five High Growth Refining Markets, Crude Oil Supply and Logistics

5 Global Top Five High Growth Refining Markets, Processing Capacity and
Complexity Analysis

6 Global Top Five High Growth Refining Markets, Refined Products Outlook and
Trends

7 Global Top Five High Growth Refining Markets, Refinery Operation, Margin
Analysis and Conversion Economics

8 Global Top Five High Growth Refining Markets, Market Share Analysis

9 Global Top Five High Growth Refining Markets, Foreign Investments, Joint
Ventures and Upcoming Projects

10 Appendix

For more information visit
http://www.researchandmarkets.com/research/d49ee5/global_top_five_hi

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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