Insight
Refining through the Energy Transition: are the Majors ready?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The refining business had been under strain before COVID-19 struck. Refiners are now more focused than ever to keep their portfolios profitable and sustainable for the long run. The Majors remain cash positive, but profitability varies greatly within their portfolios, and across companies. As the impact of COVID-19 and the energy transition on demand become more apparent, the future looks more challenging than initially thought. But margin isn't everything. Long run viability also means lowering emissions, deeper integration and using advanced data and technology to reduce costs. However, even the most responsive companies struggled to keep pace with the recent rate of change. As a consequence, some are embarking on an unprecedented portfolio re-engineering exercise over the next decade to high-grade their refining business. Others are investing to stay competitive. The weakest assets will cease crude oil refining and look instead to repurposed as storage or bio-refining facilities.
Table of contents
- Executive summary
Tables and charts
This report includes the following images and tables:
What's included
This report contains:
Other reports you may be interested in
Insight
Benchmarking Latin America energy markets
Latin America's major economies are progressing towards a lower-carbon and a more resilient energy future.
$1,250
Insight
Retail fuels in brief
Our brief analyses of the most important developments across retail fuel markets globally, kept to the point.
$900
Asset Report
Future exploration outlook
Focuses on the near-term exploration outlook until 2028 and the sector’s longer-term prospects to 2050.
$11,000
