Strategic investments and process flexibility hold key to meeting new worldwide challenges
The dynamics of the refining industry`s highly competitive business environment are discussed. The performance of the industry at predicting the future and investing in the business has not been very good. The only investments that have been successful are those that have enhanced the ability to take advantage of emerging opportunities and increase processing flexibility. One thing is certain, the refining business has become more competitive and the business environment has been anything but good over the past several years. The refining industry has seen a lot of restructuring, downsizing, right-sizing or whatever the current buzzword is. Many smaller players are gone, or have been severely diminished. Few have remained unchanged. Even those that are part of large integrated companies such as Exxon and Chevron have sold off some of their refining assets. Others have seen the need to seek out strategic alliances to make investments and process flexibility improvements. This is required for increased profitability of even survival.
- OSTI ID:
- 458710
- Journal Information:
- Fuel Technology amp Management, Journal Name: Fuel Technology amp Management Journal Issue: 1 Vol. 6; ISSN 1087-4003; ISSN FTMAFH
- Country of Publication:
- United States
- Language:
- English
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