In the refining sector, just as in any other industry, profit is determined by sales income minus cost incurred on feedstocks, inputs and processing. The major inputs for refining are crude oil, manpower, purchased utilities, marketing efforts, distribution costs, etc. Of these expenses, crude oil costs are determined by international factors. The sale price is determined by market competition. For a petroleum refinery, profitability involves minimizing costs and maximizing conversion of crude oil into useful products as well as the appropriate mix of fuel products. Accordingly, refiners must improve the effectiveness and efficiency of their refinery.
Fuel and losses. Crude oil is refined
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