×

We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

Insight

Refining through the Energy Transition: are the Majors ready?

Get this report

$1,350

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

19 August 2020

Refining through the Energy Transition: are the Majors ready?

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 1 images and tables including:

What's included

This report contains:

  • Document

    Refining through the Energy Transition are the Majors ready.pdf

    PDF 1.10 MB