IMO Regulations Implementation Report

The tighter sulphur limit creates major ramifications for both the oil refining and shipping industries. Seeking to measure perceptions of how well these industries are adapting to this changing IMO regulatory regime, WRA recently conducted a survey of professionals within the refining and other industries. This Survey Report is a summary of the results, along with additional perspective from IMO and a consultant who closely tracks this evolving situation.

Download Now

The Egypt Downstream Summit and Exhibition Advisory Board Meeting 2016

Egypt’s refining and petrochemical industries are at the forefront of the government’s plans to get the energy sector on track, and following reforms to the fuel subsidies and devaluating the Egyptian pound, they are demonstrating their commitment to potential foreign investors.
With on-going and new projects in Egypt’s refining and petrochemical sector, opportunities are plentiful for investors.
It is against this backdrop that the 2nd Egypt Downstream Summit & Exhibition is being held with the support of Egypt’s downstream stakeholders.

Asian Downstream Week 2016

THE FUTURE OF THE MIDDLE EAST DOWNSTREAM SECTOR

The steady decline in world crude oil prices from their highs of above $110 per barrel in mid – 2014, to the sub – $40 level – at the end of 2015 – is providing the Middle East’s downstream sector with an almost unprecedented opportunity to expand.

For decades, much of the focus within the region has been on the upstream oil and gas sector. But now, attention is turning to refined oil products and petrochemicals as the ability to benefit from better profit margins as cheaper feedstock becomes more evident.

Those Middle East oil companies that years ago had the foresight to invest heavily in the downstream sector, now find their decisions vindicated. In 2015, they were able to gain some partial relief from the collapse in crude oil revenue, through higher downstream margins.

CHANGING DYNAMICS OF GLOBAL PETROCHEMICAL FEEDSTOCK

As the suppressed oil price becomes the new norm, the Middle East’s downstream operators face a new operating reality. The loss of feedstock competitiveness and capitalised margins, coupled with more pressing international standards and compliance has meant that the region strives to compensate for its loss of leverage by improving yields and becoming more sustainable. As such, new technology, investing in research and innovation are priorities.

We have created a report to enable you to better understand the current landscape of the GCC’s downstream sector.