Are Refiners Entering a Golden Age or a Short Cycle?

Are Refiners Entering a
Golden Age or a Short Cycle?

Global Refining Strategies 2007

Barcelona, Spain

April 2007

Joanne Shore

John Hackworth

Energy Information Administration

www.eia.gov


	SRefiners today face a perplexing future. After many years of low returns during the 1990’s, the industry has recently seen an increase in margins and price differentials.

	SHowever views vary as to the sustainability of this profitability upswing.

	SThis presentation will explore some thoughts on whether or not refining may be moving towards a longer-term Golden Age or simply experiencing a short-term cycle, and in the process, lay the grounds for further debate.