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The Downstream segment consists primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
Refining crude oil produces oil fuels.
BP's profit from refining crude oil were also substantially lower.
Refining tar sands requires two to three times as much energy as refining crude oil.
All are obsessed with refining crude at the expense of exporting it.
So the story starts with a higher global demand for the other products of refining crude oil.
Similar(45)
One consequence is a lack of capacity to refine crude into petrol.
Okay, but what about the companies that refine crude oil and market gasoline?
The binding constraint right now is the nation's limited capacity to refine crude oil into gasoline.
Air Products & Chemicals, the nation's biggest producer of industrial gases, and Praxair, the second largest, said yesterday that October sales rose from a year earlier because of increased demand for gases used to make electronics and to refine crude oil.
The country is largely unable to refine crude oil as all four refineries operate at an average of 23% of their potential capacity, and it has to import most of its fuel needs.
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CEO of Professional Science Editing for Scientists @ prosciediting.com