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Economics of Oil Refining

In: The Palgrave Handbook of International Energy Economics

Author

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  • Jean-Pierre Favennec

    (WDCOOPERATION)

Abstract

Refining is a key element of the energy industry. We use gasoline and diesel for transport, not crude oil. The evolution of the refining industry from a simple process to manufacture kerosene the key product at the end of the nineteenth century to a very sophisticated process to deliver high-quality products for sophisticated engines now is impressive. Less demand in Europe, more demand in Asia has deeply changed the structure of the industry with closures of facilities in Europe and development of large, sophisticated plants in the Middle East and Asia. The economics of refining for long very poor are improving with the adaptation of the industry.

Suggested Citation

  • Jean-Pierre Favennec, 2022. "Economics of Oil Refining," Springer Books, in: Manfred Hafner & Giacomo Luciani (ed.), The Palgrave Handbook of International Energy Economics, chapter 0, pages 59-74, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-86884-0_3
    DOI: 10.1007/978-3-030-86884-0_3
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    Cited by:

    1. Manfroni, Michele & Bukkens, Sandra G.F. & Giampietro, Mario, 2022. "Securing fuel demand with unconventional oils: A metabolic perspective," Energy, Elsevier, vol. 261(PB).

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