Refinery of the future: Shell takes another step towards net-zero

The energy transition is gaining momentum globally, with countries setting targets for net-zero carbon emissions that will likely lead to significant carbon policies affecting refiners. Additionally, many businesses, such as Shell, have pledged to reduce their carbon footprint in the coming decades. The anticipated slowdown in global oil demand growth over the next decade will further impact refineries' profitability, necessitating the development of effective strategies to improve their margin and carbon competitiveness. In this insight, we utilise Wood Mackenzie's PetroPlan and Refinery Evaluation Model Chemicals (REM-Chems) to examine Shell’s Pulau Bukom refinery and its preparations for the energy transition.