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Global oil refining enterprises "mini golden age" is about to end
- Categories:Industry News
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- Time of issue:2020-03-31 14:57
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Global oil refining enterprises "mini golden age" is about to end
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2020-03-31 14:57
- Views:
Information
According to MENAFN website on July 21, reports from Paris, the International Energy Agency (IEA) recently in a report said global oil refining enterprises a high profit ability period may be like the start as a quick end.
Report said that lower oil prices and relatively high gasoline, diesel and petrochemical raw materials price in the past 6 months significantly push high refining margins, so as to help the oil companies to deal with from the upper reaches of the production of low profit.
Reuters, the calculation results show that in the first quarter of this year, the British oil company, Royal Dutch Shell, Exxon Mobil, total and Eni from the combined profits of oil and oil products trade in total revenue accounted for the proportion from 18% last year, soared to 60%.
Crude oil prices fell from $115 a barrel in June to nearly $45 this year, although it has since risen, but it is still close to the peak of last year.
However, as the world's largest economy energy consultant, IEA said, this mini golden age is coming to an end. The new refinery will be put into operation in the next two years.
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