Global Refining Industry Environmental Laws Reshapes Investment Scenario by GlobalData

VIEWS: 25 PAGES: 27

Global Refining Industry Environmental Laws Reshapes Investment Scenario

Summary

The Clean Air Act (CAA), which was enacted in 1970 in the U.S. and subsequently amended twice in 1977 and 1990, has affected the operation of refineries in the U.S.. The CAA laid down clear strictures on the emissions from refinery complexes. Similarly, the EU emissions trading scheme (ETS) has altered the refinery industry in Europe. Under the directive implementing the EU ETS approved in 2003, the refinery sector was allocated CO2 emission allowances, starting in 2005.

These acts in the U.S. and Europe provide economic impetus to implement the best technology solution to address emission problems. Despite being provided the flexibility to cap emissions, operators were hesitant to refurbish their refineries to lower CO2 and SOX emission. The refiners who upgraded their infrastructure suffered from lower profit margins. A number of small scale refineries in United States and Europe subsequently closed down.

Scope

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									Global Refining Industry: Environmental
Laws Reshaping Investment Scenario
                                                                                Reference Code: GDGE0526VPT
                                                                                Publication Date: MAY 2008




Energy Viewpoint                                                              GDGE0526VPT / Published MAY 2008
© GlobalData. This brief is a licensed product and is not to be photocopied                                  Page 1
Table of Contents



1           Table of Contents

1      Table of Contents                                                                                    2

1.1       List of Tables                                                                                    4

1.2       List of Figures                                                                                   5


2      GlobalData Viewpoint                                                                                 6

2.1       Summary                                                                                           6


3      Global Refining Industry: Environmental Laws Reshaping Investment Scenario 7

3.1       Sulphur Content in Diesel and Gasoline influence Refinery Configuration                           7

3.2       Robust Capacity Expansion in Asia-Pacific and Middle East                                         9

3.3       New Investment in Asia-Pacific and Middle East                                                   11

3.4       Conclusion                                                                                       12


4      Recent Developments                                                                                 13

4.1       Apr 24, 2008: RIL To Commission Its New Oil Refinery In September 2008                           13

4.2       Apr 18, 2008: Canadian Refineries Struggle To Maintain Pace With Demand And Costs                13

4.3       Apr 16, 2008: RPL Spends $5.8 Billion On Indian Refinery                                         14

4.4       Apr 16, 2008: Petrobras Plans To Construct LNG Refinery                                          15

4.5       Apr 14, 2008: Saudi Arabia To Invite Bids For Oil Refinery At Jizan In May 2008                  15

4.6       Apr 11, 2008: Total’s
								
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