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- Current crack spreads incentivize refineries to maximize utilization.
- Refining capacity is difficult to grow in the short term, and downstream companies will benefit from ensuring reliable operations.
- The most significant indicator of profitability in the refining industry is the price paid for feedstock. An advantageous location of a refinery is essential, but operators can boost profit margins by ensuring reliable operations.
- There is a slight correlation between the intensity of reliability spend and refinery utilization.