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Refinery of the future: refining’s business of chemical transformation has a long future

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26 July 2022

Refinery of the future: refining’s business of chemical transformation has a long future

Report summary

The global refining sector is currently enjoying a post pandemic recovery boom, with its June 2022 composite monthly margin at record highs. This is a very different situation from the depths of the global pandemic, which was only two years ago. In 2020, in Europe, our Refinery Evaluation Model indicates that few refiners were cash positive. Other regions experienced similar challenges, triggering the rationalisation of almost three million barrels per day of refining capacity.

Table of contents

  • Crisis? What crisis?
  • Russia/Ukraine conflict represents a geopolitical crisis
  • Resilience in the face of the energy transition
  • Key attributes of successful future refineries

Tables and charts

This report includes 5 images and tables including:

  • Figure 1: Wood Mackenzie global refining composite margin (US$/bbl)
  • Figure 2: Russian crude trade flow changes between advanced and developing economies
  • Figure 3: Energy use of fossil-based oil reaches a peak by 2027
  • Figure 4: Global NCM Uplift ($/bbl) vs. wt% petrochemicals split by region
  • Figure 5: Carbon mitigation techniques for refiners

What's included

This report contains:

  • Document

    Refinery of the future: refining’s business of chemical transformation has a long future

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