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From Refining to Chemicals, a Switch of the Yield in 4 Stages - Image

From Refining to Chemicals, a Switch of the Yield in 4 Stages

Over the last decade, the demand for main petrochemicals intermediates (ethylene, propylene, paraxylene) increased by an annual growth rate of around 4%. That is a growth rate very similar with the one observed for the global Gross Domestic Product (GDP) during the same period. On the other hand, since 2010, fuel demand growth followed global population change with an annual growth of 1% per year. According to the International Energy Agency (IEA), petrochemicals are rapidly becoming the largest driver of global oil consumption; they are set to account for more than a third of the growth in oil demand by 2030, and nearly half by 2050, ahead of trucks, aviation and shipping.
Oil&Gas: Axens 2016 Market Outlook by Eric Benazzi - Image

Oil&Gas: Axens 2016 Market Outlook by Eric Benazzi

How did 2015 crude oversupply affect fuel demand and refined products demand? What were the consequences for refiners? What are the 2016 forecasts? ...