PrintFuture Trends in Petroleum Refining
Speculation about the future of refining is risky at best, but some trends are described as to be more certain by Self, Ekholm, and Bowers [5], as follows:
- Computers will increasingly be used for research, design, control and operation, maintenance, information handling, supply chain management, marketing execution, and distribution. As a result, research will broaden and manufacturing facilities will become more complex.
- The sophistication of competitors and customers, both domestic and international, will drive more transparent and efficient markets.
- Consumers will continue to search for energy sources that are reliable and independent of political forces, sustainable, environmentally acceptable, simple to generate and store and distribute, and inexpensive. Consequently, companies will hasten to reconcile the position of fossil fuels within emerging energy alternatives. Meanwhile, fuel formulations and usage will evolve, particularly for better performance and pollution prevention. This will progress despite the apparent trend of heavier crudes with increased sulfur, metals, solids, and water.
- Sensitivity will spread for the concerns and desires of consumers, communities, investors, and other stakeholders in all aspects of refining. Interaction with all stakeholders will be critical.
- Strategic consolidation of the size, number, and ownership of facilities and companies will continue. New partnerships will form among customers, competitors, and suppliers. Companies will attempt to maximize their return on assets, optimize allocation of capital, and reduce operating costs. In particular, efforts at hazard elimination and pollution prevention will intensify to reduce operational and liability costs.