openPR Logo
Press release

Oil Refining Market – Regional Outlook Study 2028 | Exxon Mobil, SINOPEC

11-15-2018 12:21 PM CET | Energy & Environment

Press release from: TMR Research

/ PR Agency: TMR Research
Oil Refining Market – Regional Outlook Study 2028 | Exxon

Global Oil Refining Market: Overview

The global oil refining market is expected to grow at a phenomenal pace in the in coming years as the demand for energy continues to be on the rise. As developing economies find themselves on the cusp of industrial and economic progress, the countries are expected to need a huge amounts of energy to keep up with rapid progress. The market for oil refining will also be driven by the dependency of the developing countries on other nations to meet their oil demands. The research report discusses the various aspects of the global oil refining market that are expected to define its trajectory.

Get Sample Copy of this Report @
https://www.tmrresearch.com/sample/sample?flag=B&rep_id=4041

Global Oil Refining Market: Trends and Opportunities

Rapid pace of industrialization and urbanization are expected to be the key factors responsible for the massive growth of the global oil refining market. Dependence of countries such as China and India on other countries for oil is projected to bode well for the market too. Technological advancements in refining processes and higher quality of equipment are also expected to help the vendors operating in the oil refining market to tap into lucrative opportunities.

Global Oil Refining Market: Market Potential

Vendors operating in the global oil refining market are expected to focus on production of cleaner fuels as the world reels under the pressure of global warming. To keep up with this trend, ExxonMobil announced its plans to make a multi-billion dollar investment in its Singapore facility. The move comes ahead of the new regulation for global shipping of fuel that is expected to take effect by 2020. The new rule by The International Maritime Organization (IMO) will restrict the sulphur content to just about 0.5%, which is pegged at 3.5% at the moment. This is aimed at reducing the pollution caused by the shipping industry.

Request TOC of the Report @
https://www.tmrresearch.com/sample/sample?flag=T&rep_id=4041

ExxonMobil stated that the investment will respect the new rule as it intends to bring in proprietary technologies for converting by-products of a lower value into cleaner and higher value products, which will include 0.5% sulphur fuels.

Global Oil Refining Market: Regional Outlook

On the basis of region, the global oil refining market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Out of these, Asia Pacific is expected to lead the global market for oil refining in the coming years due to strengthening economies of India and China. Progress of Asia Pacific oil refining market will be backed by China as the country is undergoing monumental changes in terms of economic development, which is expected to trigger a high demand for petroleum products. Efforts to reduce dependency on imports is expected to augment the oil refining industry in China. China’s oil refining industry saw a 6.6% rise in December 2017 from the same time last year as it exported 1.6 million barrels per day, state resources.

India too is expected to be a key contributor to the soaring oil refining market in Asia Pacific. The massive oil refining unit in Jamnagar is expected to see a booming activity in the coming years. Presently, Reliance Industries Ltd. operates it the refinery that boasts a capacity of 1.24 million barrels a day. Permission to have a 100% foreign direct investment (FDI) in the various parts of oil and gas industry across India is also projected to boost India’s contribution to the Asia Pacific oil refining market.

Read Comprehensive Overview of Report @
https://www.tmrresearch.com/oil-refining-market

Global Oil Refining Market: Competitive Landscape

The players making their mark on the competitive landscape present in the global oil refining market are Abu Dhabi National Oil Company, Indian Oil, S-Oil, Hindustan Petroleum, Saudi Aramco, Bharat Petroleum, Kuwait Petroleum, Fluor, Chevron, BP, Shell, Exxon Mobil, SINOPEC, Phillips 66, Reliance, and PBF Energy.

About TMR Research
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends. Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.

Contact:
TMR Research,
3739 Balboa St # 1097,
San Francisco, CA 94121
United States
Tel: +1-415-520-1050
Email: sales@tmrresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Oil Refining Market – Regional Outlook Study 2028 | Exxon Mobil, SINOPEC here

News-ID: 1373146 • Views: 658

More Releases from TMR Research

Automotive Vision System Market Share and Growth Factors Impact Analysis 2021 - …
Automotive Vision System Market: Introduction A system that increases the vehicle driver's perception during night or bad weather conditions is termed as Automotive night vision system (ANVS). The system is otherwise beyond the reach of the vehicle's headlights, thereby prevents accidents at night. It can also be defined as a system which assists the driver by increasing visibility during bad whether while providing safety. Vehicle which have automotive vision system integrated are
Waste Heat Recovery Market Competitive Landscape Analysis with Forecast by 2031
Waste Heat Recovery Market: Snapshot The waste heat recovery market has been expected to reach a valuation of US$ 65.87 Bn and expand at a CAGR of 6.90% in the foreseeable years from 2020 to 2030. The growth opportunities in the waste heat recovery market are attributed to the increasing prices of electricity and energy in the emerging economies. In addition to this, government regulations and incentives are also estimated to contribute
Physical Fitness Equipment Market Current Trends and Future Aspect Analysis | Ma …
Global Physical Fitness Equipment Market: Snapshot The physical fitness equipment market has been expected to reach a valuation of US$ 14.8 Bn and expand at a CAGR of 3.3% in the foreseeable years from 2020 to 2030. The revenue generation opportunities in the physical fitness equipment market are attributed to the increasing enthusiasm among people toward fitness. In recent years, the fitness industry has been growing at a noticeable speed owing to
Molecular Spectrometry Market Competitive Analysis and Forecast 2021-2031 | Grow …
Global Molecular Spectrometry Market: Snapshot  Molecular spectrometry examines and quantifies the response of molecules on interaction with known amounts of energy. Molecules have some energy levels that can be studied by determining the molecule's energy exchange through emission or absorbance. Molecular spectrometry involves studying emission, absorption, or scattering of electromagnetic waves by atoms or molecules to quantitatively and qualitatively study atoms, molecules or physical processes. The interaction of matter with radiation

All 5 Releases


More Releases for Oil

Smilz CBD Oil Reviews -
Smilz CBD Oil is designed by using generally skilled arrangement specialists of their labs. It is endeavored clinically and offers a wide level of obliging affects. Wealthy in hemp and flavors it is thinking about the entirety, ordinary. It is feasibly usable and slight. The Smilz CBD Oil is wealthy in CBD. It enables our body as the way in the direction of making starts offevolved. It offers with the
Base Oil Market
Base Oil Market Size Worth $ 48,347.04‬ Million By 2026 | CAGR: 1.2% The global Base Oil market size is expected to reach USD 48,347.04‬ million by 2026 according to a new study by WhipSmart MI Research. The report “Base Oil Market by Type (Group I, Group II, Group III, Group IV and Group V), by Application (Automotive Oil, Industrial Oil, Metalworking Fluid, Greases, Hydraulic Oil and Others) and By Regions,
Oil Refining Pumps Market |
The global demand for oil refining pumps is expected to surpass 3 million tons by 2018 end, according to a latest Fact.MR report on oil refining pumps market. Rising oil and gas production, and increase in petroleum-based power generation are driving oil refining pumps demand. The oil supply has sharply increased from Russia, Middle East, and the US, compensating for fall in oil production in Iran and Venezuela. The demand for
Oil Sands - Thematic Research
Oil Sands - Thematic Research Summary Oil sands, an unconventional hydrocarbon resource, holds vast growth potential for crude oil production amid declining output from maturing conventional fields and slowing pace of new discoveries. The oil sands deposits in Alberta, which are among the world's largest hydrocarbon reserves, are playing an influential role in driving the oil and gas industry in Canada. Despite facing severe backlash from environmentalists around the world, there has
Gingelly oil Market
https://www.qandqmarketresearch.com/reports/7431261/gingelly-oil-market-48 The global Gingelly oil market is valued at million US$ in 2018 is expected to reach million US$ by the end of 2025, growing at a CAGR of during 20192025. This report focuses on Gingelly oil volume and value at global level, regional level and company level. From a global perspective, this report represents overall Gingelly oil market size by analyzing historical data and future prospect. Regionally, this report focuses on
Cottonseed Oil Market
Global cottonseed oil market is expected to grow at a steady rate as the product is used in processing of many food & beverage products. It has neutral flavour and is said to enhance the natural taste of food products in which they are used. Thus, they are used extensively for frying and baking purposes. Margarines, whipped toppings, icings, salads, potato chips & french fries, cereals, baked goods, stir-fried and