HPI markets and strategies
How the HPI and government react to new directions will not only set the course for the future of refining and marketing, it will have profound implications for the entire energy industry. Strategies developed by individual refiners and marketers in response to this changing environment will determine their future in the industry. In developing scenarios for the downstream, Cambridge Energy Research Associates (CERA), has identified three forces that will determine the downstream playing field in the nineties: 1. Imbalances between market demands and refinery capacity will continue to promote intense competition and to depress margins, 2. Product and crude price volatility will be at least as great in the future as it has been in the last three years and 3. Renewed environmental concerns will add new capital investment burdens to the industry. The implications of these three forces on refiners are clear - being in the downstream business is likely to become increasingly expensive, competitive and risky. The author shares CERA's perspective on why these forces have evolved and, in turn, led to new strategies and developments in the industry. Then he outlines how we think these new themes may affect players in the industry. Finally, he summarizes some key uncertainties the future holds.
- Research Organization:
- Cambridge Energy Research Associates, Cambridge, MA (US)
- OSTI ID:
- 5086060
- Journal Information:
- Hydrocarbon Process.; (United States), Vol. 67:3
- Country of Publication:
- United States
- Language:
- English
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