Insight
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9 Pages

Global uncertainties and the strategic implications for US refiners


Global uncertainties and the strategic implications for US refiners

Report summary

US refiners have enjoyed strong refining margins over recent years because they have been able to monetise domestic crudes and export their refined product surplus.  Three factors – the evolving domestic crude supply, its high quality and its discounted price relative to international crudes - have broken the link between refining complexity and site net cash margins.  

What's included?

This report includes 2 file(s)

  • Global uncertainties and the strategic implications for US refiners PDF - 1.13 MB 9 Pages, 0 Tables, 6 Figures
  • Global uncertaines and the strategic implications for US refiners Slides.pdf PDF - 2.60 MB

Description

This Refining and Oil Products Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an alternative point of view to help inform your decision making.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information.

Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

  • Summary
  • Introduction
    • Figure 1 – USGC v NWE gross refining margin performance and "bridge"
  • Global uncertainties
  • Domestic crude differentials on lifting of US crude export ban
  • Heavy crude processing
  • Intermediate feedstocks
  • Regional imbalances
  • Strategic implications for US refiners

In this report there are 6 tables or charts, including:

  • Summary
  • Introduction
    • Global uncertainties and the strategic implications for US refiners: Image 1
    • Figure 2 – Changing relationship of net cash margin and complexity for North American refineries
  • Global uncertainties
  • Domestic crude differentials on lifting of US crude export ban
    • Figure 3 – US crude exports in a liberalised trade environment
  • Heavy crude processing
  • Intermediate feedstocks
    • Figure 4 – Global fuel oil trade outlook
  • Regional imbalances
    • Figure 5 – US LPG and naphtha balance outlook
    • Figure 6 – Global gasoline balances and inter-regional net trade
  • Strategic implications for US refiners
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