The majority of revenue in the Petroleum Refining and Petroleum Fuel Manufacturing industry is generated by four major oil refiners that process crude oil into a range of fuels and secondary products for downstream markets. The purchase of crude oil by major players dominates the industry's cost structure. This input cost contributes significant volatility to industry revenue, as movements in the world price are passed on to domestic markets in little over a week. In the current year, industry revenue is expected to fall by 43.4% to $15.0 billion, following a depreciation of the oil price.
Industry firms primarily refine crude oil or condensate (a light form of oil) to produce petrol, fuel oil, aviation fuel, grease base stock, petroleum gases and other petroleum products. Companies also blend materials into petroleum fuels and manufacture fuels from the liquefaction of petroleum gases. These products are then marketed by wholesalers and retailers, which may be owned by firms that operate refineries.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.