Energy transition is shifting demand from traditional products of refining, including gasoline, diesel, and jet fuel. At the same time, the trend is exacerbated by a COVID-19–related drop in fuel demand from the transport sector. Petrochemicals feedstocks, often regarded as by- products of refining activity and priced as such, are likely to take a greater percentage of the barrel. Traditionally, naphtha has sold at little higher than crude oil but this will change as chemicals move from 25%–30% of oil demand growth to 70%–100% of growth when fuel demand reaches a plateau.
As part of this trend, refinery/petrochemical integration is deepening globally, and the interest of energy companies in chemicals in growing. Strategies are changing and major investments are underway—on a new scale and involving new technologies.
How will this play out in India
Which companies will be involved?
What new regional alliances will be forged?
Vice President, Global Chemical Market Information
Mubadala Investment Company
Head of Refining – Petroleum & Petrochemicals
Nayara Energy Ltd.
Chief Executive Officer
Hindustan Petroleum Corporation Ltd.
Chairman & Managing Director
Indian Oil Corporation Limited