is refinery profitability entering a new era konstantinos nikolaras konstantinos_iason yahoo com abstract refining has traditionally been very low profit industry small margins and high levels of excess capacity have characterized for nearly thirty years despite the poor returns investment kept growing under strategic not purely financial considerations however ongoing changes in s environment since 1990s combined with demand after 2001 brought profits into highest 25 more purpose this study to examine reasons address developments assess whether these will be able bring refineries abbreviations aiche american institute chemical engineers api petroleum bp british bpd barrels per day cepmlp center energy mineral law policy co2 carbon dioxide eia information administration eu european union gtl gas liquids ice intercontinental exchange iea international agency comes from athens greece studied business at university economics he completed msc oil management distinction work experience
