May 2007

Trends and Resources

HP Impact: HPImpact: Tough decisions ahead for global refining industry

Global refined-product demand growth faltered in 2005 and 2006 largely due to high crude oil prices. From 2000 to 2005, the average global refined-product demand increased by 1.2 million bpd (MMbpd). ..

Romanow, Stephany, Hydrocarbon Processing Staff

Global refined-product demand growth faltered in 2005 and 2006 largely due to high crude oil prices. From 2000 to 2005, the average global refined-product demand increased by 1.2 million bpd (MMbpd). Strong economic conditions supported this expanded energy demand. With crude oil prices moderating from the highs of $70/bbl in 2005–06, global demand for refined products in 2007 is forecast to reach 1.3 MMbpd (a 1.3% increase), according to Bill Sanderson, president of Purvin & Gertz (P&G). Speaking at his company's 20th Annual International LPG Seminar in Houston, he shared P&G's world oil forecast. Transportation fuels. Global demand for transportation fuels is focused on light pr

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