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Refining – A key tool in OPEC's market share strategy?

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09 July 2015

Refining – A key tool in OPEC's market share strategy?

Report summary

A key element in the 2014 crude oil price collapse was the change in OPEC behaviour to defend its market share in Asia.  The 1980's demonstrated that the ownership of refining assets can be a viable approach, either by the development of grassroots facilities and/or acquisition of existing assets.  Adopting typical key factors for success indicates that there are limited opportunities currently available in Asia, but there are a number of signposts available to track progress.

Table of contents

    • Figure 1 – 1980's Crude production profile of Saudi Arabia
  • Market share defence
    • Grass-roots developments
      • Figure 2 – Grass-roots refining development opportunities
    • Acquisition and expansion
      • Figure 3 – Asian refinery size and complexity (for sites below the regional average capacity)
      • Figure 4 – Competitive position of Asian refinery targets
      • OPEC members and likely actions
        • Figure 5 – OPEC member's potential to add further refining capacity
      • Key signposts

Tables and charts

This report includes 5 images and tables including:

  • Refining – A key tool in OPEC's market share strategy?: Image 1
  • Refining – A key tool in OPEC's market share strategy?: Image 2
  • Refining – A key tool in OPEC's market share strategy?: Image 3
  • Refining – A key tool in OPEC's market share strategy?: Image 4
  • Refining – A key tool in OPEC's market share strategy?: Table 1