openPR Logo
Press release

Oil Refinery Market Global Industry Analysis Forecast 2016 - 2024

02-14-2017 01:51 PM CET | Energy & Environment

Press release from: Transparency Market Research

Oil Refinery Market Global Industry Analysis Forecast 2016 -

The global oil refinery market is taking mighty strides toward a perpetual recovery and assertive development mainly on the back of developing economies and the wholehearted support by their governments. The world’s largest oil refinery installed in India rode on its record performances in 2016 to help the owner Reliance Industries Ltd. gain a 10.0% rise in profits. This profitability jump was witnessed in the face of defiance coming from the challenging market conditions. Thus, the market is anticipated to offer opportunities even during the not-so-profitable times.

The report presented here segments the world oil refinery market in terms of type of crude. Apart from Asia Pacific, the other principal geographies of the market could be North America, Europe, and Rest of the World.

Interpret a Competitive outlook Analysis Report with PDF Brochure :

The analysts have exercised their experience and skills to expose some of the vitally important factors that are deemed responsible for the growth of the oil refinery market. The other significant aspects such as market restraints, company rivalries, and future outlook are also comprehensively studied in the publication.

Global Oil Refinery Market: Trends and Opportunities

Since the crude type helps to conclude the refining process used, one of the critical classifications of the world oil refinery market is based on the two forms of crude, i.e. sour crude and sweet crude.

Minor penetrations into the global oil refinery market could be witnessed on the part of companies belonging to other sectors, whereas niche companies will look to extend their presence more in top geographies. For instance, manufacturing and technology solutions provider Honeywell International Inc. based in the U.S. has introduced a novel refining technology to help Indian refiners reduce crude oil imports and obtain cleaner fuel for transportation. New ideas have been promoted in the oil and gas industry by the Oil and Natural Gas Corporation (ONGC) in India with a US$14.91 mn startup fund.

Oil is a major component employed in the process of power generation. With the rising consumption rate of electricity across the world, except Europe, the demand in the global oil refinery market has correspondingly increased. Europe could exhibit a lazy growth owing to the spiraling progress of the renewable energy sector. However, the substantial demand put up by the energy sector is pushing up the global advancement of oil refinery at an aggressive pace.

Global Oil Refinery Market: Geographical Analysis

On the basis of refining capacity, Asia Pacific has taken a leading share in the world oil refinery market. The region held its ground despite the danger of the downswing in petroleum product demand and sluggish economy. It was successful in maintaining the firmness of the demand with lower oil prices even in the high pressure background of flimsy refining margins. India holds the largest refinery on the globe in Jamnagar. Operating under the banner Reliance Industries Ltd., the refinery flaunts a mammoth capacity of 1.24 mn barrels per day. With the allowance of 100.0% foreign direct investment (FDI) in several segments of the oil and gas industry, including oil refinery, the Indian government has managed to draw in both international and domestic investments. Additionally, numerous policies have been adopted to satisfy the increasing demand in the country.

China is one of the largest crude oil importers and had expanded its refining capacity to 12.7 mn barrels per day in the recent years. In the event of a colossal amount of crude oil available for processing, the need for elevating the refining capacity of China has augmented even more.

Browse Report with Full TOC at :

Other factors responsible for the global oil refinery market growth include the revamping and upgrading efforts taken by various countries to process new crude oil and changing economies of emerging nations. Developed regions such as North America are expected to contribute at a minimal rate.

Global Oil Refinery Market: Top Companies

Amongst others, Reliance Industries Ltd., Saudi Aramco Lubricating Oil Refining Company, Essar Oil Limited, National Iranian Oil Company, Petroleos de Venezuela SA, National Iranian Oil Company, Kuwait Petroleum International, Total Oil, Hindustan Petroleum Corporation Limited, Exxon Mobil, ENI, Conoco Phillips, China National Petroleum Company, Chevron Corporation, and Abu Dhabi Oil Refining Company are the renowned players in the international oil refinery market.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

90 State Street, Suite 700
Albany, NY 12207

This release was published on openPR.

Permanent link to this press release:

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 Refinery Market Global Industry Analysis Forecast 2016 - 2024 here

News-ID: 437365 • Views: 495

More Releases from Transparency Market Research

Distributed Operating System Market: A Latest Research Report to Share Industry …
A distributed operating system is a software which is a collection of distinct computational nodes that are networked, independent, and communicating in order to perform certain operations The distributed operating system manages the jobs that are serviced by multiple processing units. Every distinct node holds a precise software subset of the global collective operating system. Each subset is a composite of two distinct service provisions. The first subset is a universal kernel,
Research Outlines Huge Growth In Automatic Dependent Surveillance Broadcast Mark …
Automatic dependent surveillance-broadcast (ADS-B) is surveillance technology which enables an aircraft to determine its position through satellite navigation. Automatic dependent surveillance-broadcast (ADS-B) helps to track an aircraft through periodical broadcasts. As a replacement for secondary surveillance radar, automatic dependent surveillance - broadcast (ADS–B) technology can be used by air traffic control ground stations to gather information regarding tracking of the aircraft. It can also be used by other aircrafts to enable
RF Shielded Test Enclosures Market: Structure and Overview of Key Industry
RF shielded test enclosures, also called RF shielded test boxes, are used for testing of RF and microwave devices in an isolated test environment, which lacks interference of other devices as well as the external environment These test boxes are used in isolation from unintended electromagnetic interference in noisy surroundings. In order to check whether a device is functioning up to the mark in an isolated environment, these boxes are used
Pitot Tube Anemometers Market Will Escalate Rapidly in the Near Future
A pitot tube anemometer is a flow measurement device that is designed to measure and display air pressure, air velocity, volumetric flow, and air temperature Pitot tube anemometers involve use of the microprocessor technology for signal processing, which ensures quick and accurate measuring results Pitot tube anemometers are available in two types i.e. portable and fixed When not in use, a pitot tube anemometer should be placed in dry conditions and be protected

All 5 Releases

More Releases for Oil

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 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
Oil & Gas Explosion Lawyer
Concerns about gas and oil explosions and worker safety have been at the forefront of Oklahoma state officials’ minds as they continue to investigate a recent Pittsburg County explosion that left five workers dead and 17 with minor injuries. The explosion has shaken a state that is heavily invested in the fuel industry and has been said to be the worst incident of its kind since the Deepwater Horizon tragedy. Oklahoma
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
Automotive Gear Oil Market
Automobile gears (or cogs) are rotating machine part having cut teeth, or cogs which mesh with another toothed part in order to transmit torque. The arrangement of two or more gears forms automotive transmission system. Automotive gear oil can be petroleum or synthetic based, used especially for lubricating automotive gears for all class of vehicles. It provide high transmission efficiency, reduce engine heating, provides proper clutch friction, insure better oxidation