The global energy demand, expressed in millions of oil-equivalent barrels per day, is expected to increase 1.3 percent per annum on average from 2005 to 2030. The demand for liquid fuels is expected to increase from the present 86 million oil-equivalent barrels per day to 116 million oil-equivalent barrels per day in 2030. The natural gas is expected to continue to expand its reach as a reliable, affordable source of energy. Demand for gas will increase in North America, Europe and the Asia Pacific.
The environmental laws have had an impact on investment in new refineries. Over the next four years 2008-2012, only two refineries have been planned in Europe and North America. They are Silistra refinery in Bulgaria and Nizhnekamsk Tatneft Refinery in Russia. During the same period, 16 refineries are likely to come onstream in the Asia-Pacific region.
Most countries in Asia-Pacific, Middle East and Africa are starting to adopt legislation on emissions norms and fuel standards, albeit far from European and North American specifications. The less relaxed emission criteria have provided an impetus for operators to move their refinery operations from Europe and North America to Asia- Pacific. In addition to the less stringent emission, Asia-Pacific is drawing multi national operators and foreign operators to its region because of the following factors:
This latest Oil Refining market data and analysis was taken from the research report
"Global Top 10 Refining Companies Detailed Analysis and Forecasts of All Active and Planned Refineries To 2013
|" published by GlobalData. For more information on this report,
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