Both are similar open innovation systems, with long-lived conversion assets, waves of capacity investment, and cyclical utilization and margins.
Utilization rates and margins in the refining industry are likely to remain "surprisingly high," with demand outpacing capacity, according to a report from Morgan Stanley.
He argued that it appears that several leading indicators of the industry such as gross margins, utilization rates, and earnings estimates are bottoming.
Morgan Stanley has forecasted a "Golden Age of Refining" for the refining and marketing market, in which demand overtakes supply and global utilization rates and margins rise during 2006 and 2007.
Return on equity declined steeply (except for 2001) from 95.5% in 2000 to 50.5% in 2004, as declining operating margins, asset utilization and leverage ($4.1 billion) offset a declining tax and interest burden.
In the past, semiconductors have ridden a boom-or-bust cycle dependent on new product cycles and general economic conditions, said the analyst.. Low inflation and continued global expansion are likely to boost revenues, capacity utilization, pricing and improve margins.
The extent of this capitalist colonization of the Internet has not been as obtrusive as it might have been, because the vast reaches of cyberspace have continued to permit noncommercial utilization, although increasingly on the margins".
Refinery utilization has fallen, as refiners' profit margins have been battered by the soaring cost of crude, which is rising much more quickly than gasoline and other products.
The calculation results showed that: when the face length is 300 m, and face dip is 0°, the power utilization reaches up to 94.3 %, power margin is small, which is only used in a flat or downhill face.
Our contacts are concerned languishing refining margins are driving down refinery utilization.
