Trndsmntr

WORLDWIDE REFINING & PETROCHEMICAL INDUSTRY MONITOR:

Refining Industry Trends and Strategies

HYDROCARBON PUBLISHING COMPANY Translating Knowledge into ProfitabilitySM

WORLDWIDE REFINING INDUSTRY TRENDS AND STRATEGIES 1. Global Overview ......................................................................................................................1 1.1 Existing Refinery Systems....................................................................................................................................2 1.2 Global Demand Growth and Capacity Additions .....................................................................................................5

2. The United States and Canada ...................................................................................................7 2.1 Regional Overview ..............................................................................................................................................7 2.2 The United States ...............................................................................................................................................7 2.2.1 New Refineries .........................................................................................................................................9 2.2.2 Refinery Expansions and Upgrades..........................................................................................................10 2.2.3 Mergers, Acquisitions, and Divestitures.....................................................................................................12 2.2.4 Refiner Strategies ...................................................................................................................................14 2.2.5 Refinery Safety Concerns ........................................................................................................................18 2.3 Canada ............................................................................................................................................................20 2.3.1 Refinery and Oilsands Mergers and Acquisitions .......................................................................................21 2.3.2 Refiner Strategies ...................................................................................................................................22

3. Latin America........................................................................................................................23 3.1 Regional Overview ............................................................................................................................................23 3.1.1 New Refineries .......................................................................................................................................24 3.1.2 Mergers, Acquisitions, and Divestitures.....................................................................................................25 3.1.3 Refiner Strategies ...................................................................................................................................25 3.2 Mexico .............................................................................................................................................................27 3.3 Venezuela ........................................................................................................................................................27 3.4 Brazil ...............................................................................................................................................................28 3.5 Argentina..........................................................................................................................................................29 3.6 Other Latin American Countries..........................................................................................................................29

4. Western Europe.....................................................................................................................32 4.1 Regional Overview ............................................................................................................................................32 4.1.1 Refinery Expansions, Upgrades, and New Refineries.................................................................................34 4.1.2 Acquisitions and Divestitures ...................................................................................................................35 4.1.3 Refiner Strategies ...................................................................................................................................35 4.2 France .............................................................................................................................................................41 4.3 Germany ..........................................................................................................................................................41 4.4 Italy..................................................................................................................................................................42 4.5 United Kingdom ................................................................................................................................................42 4.6 Spain ...............................................................................................................................................................43 4.7 The Netherlands ...............................................................................................................................................43 4.8 Scandinavian Countries .....................................................................................................................................43 4.9 Other West European EU Members ....................................................................................................................44 4.10 Switzerland (Non-EU) ........................................................................................................................................44

5. The CIS and Central/Eastern Europe.........................................................................................45 5.1 Regional Overview ............................................................................................................................................45 5.1.1 Refiner Strategies ...................................................................................................................................46 5.2 Russia..............................................................................................................................................................48 i Copyright Š Hydrocarbon Publishing Company, Inc. All Rights Reserved.

5.2.1 Refinery Expansions, Upgrades, and New Refineries ................................................................................ 50 5.2.2 Mergers, Acquisitions, and Divestitures .................................................................................................... 51 5.3 New EU Members............................................................................................................................................. 51 5.4 Other Soviet Republics...................................................................................................................................... 53 5.5 Other East European Countries ......................................................................................................................... 54

6. The Middle East .................................................................................................................... 55 6.1 Regional Overview............................................................................................................................................ 55 6.1.1 Refinery Expansions, Upgrades, and New Refineries ................................................................................ 56 6.1.2 Refiner Strategies .................................................................................................................................. 57 6.2 Saudi Arabia .................................................................................................................................................... 58 6.3 Kuwait ............................................................................................................................................................. 58 6.4 Turkey ............................................................................................................................................................. 59 6.5 United Arab Emirates ........................................................................................................................................ 59 6.6 Iran ................................................................................................................................................................. 60 6.7 Iraq ................................................................................................................................................................. 60 6.8 Other Middle Eastern Countries ......................................................................................................................... 61

7. Africa .................................................................................................................................. 62 7.1 Regional Overview............................................................................................................................................ 62 7.1.1 Refinery Expansions, Upgrades, and New Refineries ................................................................................ 63 7.1.2 Refiner Strategies .................................................................................................................................. 64 7.2 South Africa ..................................................................................................................................................... 64 7.3 Nigeria............................................................................................................................................................. 65 7.4 Egypt............................................................................................................................................................... 66 7.5 Other African Countries..................................................................................................................................... 66

8. Asia-Pacific .......................................................................................................................... 68 8.1 Regional Overview............................................................................................................................................ 68 8.1.1 Refinery Expansions, Upgrades, and New Refineries ................................................................................ 69 8.1.2 Refiner Strategies .................................................................................................................................. 70 8.2 China .............................................................................................................................................................. 74 8.2.1 Refinery Expansions, Upgrades, and New Refineries ................................................................................ 75 8.2.2 Mergers and Acquisitions ........................................................................................................................ 76 8.3 Taiwan ............................................................................................................................................................ 76 8.4 Japan .............................................................................................................................................................. 76 8.4.1 Mergers, Acquisitions, and Divestitures .................................................................................................... 77 8.5 South Korea..................................................................................................................................................... 78 8.6 India ................................................................................................................................................................ 79 8.6.1 Refinery Expansions, Upgrades, and New Refineries ................................................................................ 79 8.6.2 Mergers, Acquisitions, and Divestitures .................................................................................................... 80 8.7 Australasia....................................................................................................................................................... 81 8.8 Singapore ........................................................................................................................................................ 81 8.9 Southeast Asian Countries ................................................................................................................................ 82 8.10 Other Asian Countries....................................................................................................................................... 83

9. Summary and Conclusions.................................................................................................... 84 10. List of Tables ...................................................................................................................... 86 11. References.......................................................................................................................... 87 ii Copyright Š Hydrocarbon Publishing Company, Inc. All Rights Reserved.