Oil or petroleum refining is a complex industrial process through which crude oil gets processed and refined into more useful products. These products include heating oil, liquefied petroleum gas, kerosene, gasoline, diesel fuel, naphtha, gasoline, and asphalt base. By type of crude processed, the global oil refining market is segmented into sour crude and sweet crude.
The global oil refining market is driven by the rising demand for energy, growing number of new sources of crude oil, and advancement in technology. Currently, Asia Pacific is leading the global oil refining market in terms of refining capacity, followed by North America. At present, China is the largest importer of crude oil and its refining capacity is growing due to the need to process large amounts of crude oil.
Some of the key companies operating in the global oil refining market are Exxon Mobil, Abu Dhabi Oil Refining Company, Hindustan Petroleum Corporation Limited, ENI, China National Petroleum Company, and Chevron Corporation. The largest refinery in the world is owned by Reliance Industries, situated in Jamnagar, India, and boasts a capacity of 1.24 million barrels per day.
Research studies enlisted here will offer clients valuable insights into the global oil refining industry. Detailed impact analysis of trends will help readers gain insights into the global refining market. Furthermore, comprehensive analysis of key market players will support clients in creating a winning market strategy.