To keep up with change, refineries will have to restructure, strategically reposition their assets, or leave the market.
These stark prospects are among the findings of a recent A.T. Kearney study of the global refining market. In North America and Western Europe, the current trend of refinery closings is expected to continue, with one in five refining assets being squeezed out of the market over the next five years. Meanwhile, the boom in demand in Asia and the Middle East will lead to substantial changes in capacity and partnership structures.
This paper examines the changes taking place in refining, the value drivers shaping the future of refining, the models available to refiners for different assets and different regions, and the strategies for maximizing value in every region.
Source: ATKearney website
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