About 145 Petroleum Refineries Operate in The US, Owned by 60 Companies, with Combined Annual Revenue of $160 Billion.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c24584) has announced the addition of Petroleum Refining to their offering. Brief Excerpt ex·cerpt n. A passage or segment taken from a longer work, such as a literary or musical composition, a document, or a film. tr.v. ex·cerpt·ed, ex·cerpt·ing, ex·cerpts 1. from Industry Overview Chapter: About 145 petroleum refineries operate in the US, owned by 60 companies, with combined annual revenue of $160 billion. Annual revenue fluctuates substantially because of the shifting price of crude oil. The industry is highly concentrated: the five largest refiners, ConocoPhillips, Exxon Mobil, BP, Valero, and ChevronTexaco, hold about 50 percent of all US refining capacity. COMPETITIVE LANDSCAPE Demand is largely driven by US consumption of gasoline and diesel fuel, which has been relatively flat in recent years. The profitability of refineries depends on efficient operations, the best mixture of products, and well-controlled inventories. Although there are significant economies of scale in refinery operations, a small refinery can compete effectively with large ones if it's located in a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. market area, or if it produces specialty products that are in high demand. PRODUCTS, OPERATIONS & TECHNOLOGY Refineries come in many different sizes, from 5,000 barrels per calendar day Barrels per calendar day (bc/d or bcd) is a standard petroleum downstream industry measurement of actual refinery throughput, as opposed to designed capacity. BCD is computed by dividing the number of refined barrels of oil processed by the actual number of days the refinery was in (bbl/cd) of distillation distillation, process used to separate the substances composing a mixture. It involves a change of state, as of liquid to gas, and subsequent condensation. The process was probably first used in the production of intoxicating beverages. capacity up to 500,000 bbl/cd. A typical refinery has a capacity between 50,000 and 150,000 bbl/cd. A refinery turns crude oil into various usable products like gasoline, "distillates" (diesel fuel and heating fuel), jet fuel, asphalt asphalt (ăs`fôlt, –fălt), brownish-black substance used commonly in road making, roofing, and waterproofing. Chemically, it is a natural mixture of hydrocarbons. , lubricants lubricants preparations for the lubrication of passages to reduce frictional injury, e.g. oily preparations, including petroleum jelly, lanolin or water-soluble preparations such as methyl cellulose. , and feedstocks for chemical plants. The variety of products a particular refinery produces depends on the grade of the crude oil input, the types of downstream processing Downstream processing refers to the recovery and purification of biosynthetic products, particularly pharmaceuticals, from natural sources such as animal or plant tissue or fermentation broth, including the recycling of salvageable components and the proper treatment and disposal operations it has, and local market demand. Contents are as follows: - Industry Overview - Quarterly Industry Update - Business Challenges - Trends and Opportunities - Call Preparation Questions - Financial Information - Industry Forecast - Website and Media Links - Glossary of Acronyms For more information visit http://www.researchandmarkets.com/reports/c24584 |
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