Analysis Of Development Trend Of Petroleum Refining Industry

The remanent proven reserve of crude oil in the world has been increased greatly in the recent years. But the capacity of the refineries does not enhance at the same time, only remains at the same level as before. Therefore, the development of the refinery industry will be constrained by the lack of market demand, but not the insufficiency of crude oil resources. By the end of 2002, the overall capacity of the Asia-Pacific area has reached 7,957,000,000 bbls/year, and the superfluous capacity has been up to 657,000,000 bbls/year. The gross profit of the refinery swings at the low level, and the whole industry is facing with the serious circumstances. The problem of superfluous capacity cannot be resolved in recent years. In order to enhance the competitive ability, the companies are adjusting the framework of their company and the structure of their refineries. More and more super-large refineries appeared in the world in the recent years. The trend of the refinery structure in the refinery is: processing the heavier, sour crude oil; deeply processing, enhancing the yields of the light oil; adopting the new technologies to produce clean fuels; reaching the integration of the refinery and petrochemical plants and so on. In China, the main target of refinery industry is to develop and apply the deep-processing technology and to produce clean fuel.