Refiners boost crude capacity; Petrochemical production up

Journal Article · Mon Mar 21 04:00:00 EST 1988 · Oil Gas J.; (United States)

OSTI ID:6983289

Corbett, R A

Continuing demand strength in refined products and petrochemical markets caused refiners to boost crude-charging capacity slightly again last year, and petrochemical producers to increase production worldwide. Product demand strength is, in large part, due to stable product prices resulting from a stabilization of crude oil prices. Crude prices strengthened somewhat in 1987. That, coupled with fierce product competition, unfortunately drove refining margins negative in many regions of the U.S. during the last half of 1987. But with continued strong demand for gasoline, and an increased demand for higher octane gasoline, margins could turn positive by 1989 and remain so for a few years. U.S. refiners also had to have facilities in place to meet the final requirements of the U.S. Environmental Protection Agency's lead phase-down rules on Jan. 1, 1988. In petrochemicals, plastics demand dept basic petrochemical plants at good utilization levels worldwide. U.S. production of basics such as ethylene and propylene showed solid increases. Many of the derivatives of the basic petrochemical products also showed good production gains. Increased petrochemical production and high plant utilization rates didn't spur plant construction projects, however. Worldwide petrochemical plant projects declined slightly from 1986 figures.

• OSTI ID: 6983289
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 86:12; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020400* -- Petroleum-- Processing
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
ANTIKNOCK RATINGS
CHEMICAL PLANTS
ECONOMIC DEVELOPMENT
ENERGY SOURCES
FOSSIL FUELS
FUELS
GASOLINE
INDUSTRIAL PLANTS
LIQUID FUELS
PETROCHEMICAL PLANTS
PETROCHEMICALS
PETROLEUM
PETROLEUM PRODUCTS
PETROLEUM REFINERIES
PRODUCTION
UNLEADED GASOLINE