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THE STRUCTURE OF THE WORLD REFINING INDUSTRY
FACTORS AFFECTING FUTURE DEMAND
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addition API gravity Base Case Scenario BPSD capacity utilization Capital Cost Caribbean changes Chapter CM CM CM CO CM coal conversion facilities crude oil deasphalting decline deficits demand profile developing countries diesel diesel-gas oil distillate products East Africa East and North East Asia economic energy conservation estimated existing facilities feed fluid catalytic cracking gasoline growth rates High Conversion Scenario Historical and projected Hydro hydrocarbons hydrocracking hydroskimming refinery income elasticities increase industrialized countries Japan kerosene major middle distillates Middle East MM$/year MMBPD MMTPY naphtha national oil companies natural gas North America Oceania oil consumption oil price operating petroleum products price elasticity profits regions relatively residual fuel oil secondary conversion sector sources South Asia substantial substitution sulfur supply supply-demand balances Supply-Demand Imbalances surplus thermal tion Total transportation vacuum unit Visbreaker Western Europe World Bank yield