AM-10-132 Key Factors Influencing Future U.S. Refining Profitability

Description:

The global refining industry has experienced an abrupt transition from a “golden age”1 to an uncertain and challenging future, leading to the announced shutdown of at least 1.4 million barrels per day (MMB/D) of Atlantic Basin refining capacity since January of 2009. Questions of portfolio performance, relative competitive positioning, and survivability are receiving considerable attention across the refining industry. This paper highlights some of the factors that are likely to influence relative refinery financial performance in the near term.