Refining – surely it’s simple?

Refining and refinery economics are not as simple as it may seem at first. Strong demand in regions like Asia and Latin America doesn't guarantee efficient and profitable operation for a refinery. Factors such as complexity, location and size have a big impact on profitability and explain the geographical concentration of refining complexes in specific regions. Whether it is a stable supply of crude oil to the complex or a local deficit to which the refinery can supply its products, there is more to a new refinery investment than what meets the eye.