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Oil Refining Market Significant Growth Analysis - Saudi Aramco, ADNOC, Hindustan Petroleum, Bharat Petroleum, Philips 66, SINOPEC, Fluor, Shell, Chevron and Kuwait Petroleum
Oil Refining
Oil refining market from the aviation application is predicted to witness significant growth owing to the introduction of regional connectivity schemes along with lowering travel costs and upsurge in middle income flyers. For instance, the air carrier industry observed an increment of USD 49 Billion in overall income from passenger flights in 2018 as compared to the revenue generated in 2017.
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This Report Focusing on Following Key Manufactures By Primary & Secondary Research - Saudi Aramco, ADNOC, S-Oil, Reliance, PBF Energy, Exxon Mobil, Indian Oil, Hindustan Petroleum, Bharat Petroleum, Philips 66, SINOPEC, Fluor, Shell, Chevron and Kuwait Petroleum.
Emerging demand for value added refined products and growing concern to curtail import dependency will stimulate the oil refining market share in Indonesia. For instance, fuel demand increased to 1.6 BPD in 2017, however, the refining capacity stood around 1.1 MBPD, implying that the nation imported 43% of the products from overseas.
Saudi Arabia oil refining market is predicted to surpass USD 150 billion by 2024. Rising focus to attain diversified economic growth and employment enhancement will augment the business outlook. Growing population, economic escalation and improving living standards are some of the factors influencing the demand for petroleum product across the country. Increasing demand to process heavy crude fractions and fuel oil into the lighter distillates will further sway the industry landscape.
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In 2017, the oil consumption accounted for over 0.5 MBPD in Kuwait.
Increasing development of petroleum fired power generation facilities and soaring investment toward integration and upgradation of existing refineries will stimulate the oil refining market growth. In 2017, the government of Kuwait proclaimed an investment of USD 17 billion to revamp and integrate Mina Abdullah and Mina Al-Ahmadi refineries.
Oil refining market from the aviation application is predicted to witness significant growth owing to the introduction of regional connectivity schemes along with lowering travel costs and upsurge in middle income flyers. For instance, the air carrier industry observed an increment of USD 49 Billion in overall income from passenger flights in 2018 as compared to the revenue generated in 2017.
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Related Report
Oil Refining Market Size By Complexity (Topping, Conversion, Deep Conversion), Product (Light Distillates, Middle Distillates, Fuel Oil, Others), By Fuel (Gasoline, Gasoil, Kerosene, LPG, Others), By Application (Road transport, Aviation, Marine Bunker, Petrochemical, Residential, Electricity Generation, Rail & domestic, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, Italy, Netherland, Russia, Spain, UK, China, Japan, South Korea, Singapore, India, Indonesia, Iran, Saudi Arabia, UAE, Kuwait, Argentina, Brazil, Venezuela, Algeria, Egypt, South Africa, Nigeria) Application Potential, Competitive Market Share & Forecast, 2018 - 2024
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