Refinery Crude Slate Strategies 2014; Capitalizing On Changing Crude Supply Dynamics
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The rapidly increasing production of North American crude oil has led Bloomberg to speculate the US will become the worlds largest producer by 2015. ...
The rapidly increasing production of North American crude oil has led Bloomberg to speculate the US will become the worlds largest producer by 2015.
This exponential growth of light shale crude, the burgeoning Canadian heavy crude production, pipeline projects and the development of the crude by rail network has led to a so called 'golden age of refining'. The advancement of discounted light crude, however, has come against a legacy of refineries configured for heavy oil production.
For refineries to maximize profitability and fully capitalize on these production shifts, current strategies must be adapted. Whether through investment in reconfiguration or adjusting to accommodate incoming crude grades through blending, refiners must re-examine their supply outlook.
On top of this, with existing export regulation giving US refineries uncontested access to advantaged crude, it is now more important than ever for refiners to evaluate refined product differentials and global market access when selecting different crudes. Selection of crude grades is now determined not only by what advantaged crude is available, but by the product yields the grades can provide.
In depth assessment of current and upcoming North American crude grades being produced, as well as the developing supply infrastructure network, is necessary to determine the optimal supply strategy to maximize refinery netback. Furthermore, analysis of international opportunities for the developing US product export market for numerous crude products must be considered when evaluating the business case for downstream investment.
The Refinery Crude Slates Strategy Summit 2014 held on the 29th and 30th of April at The Westin Galleria Houston, Texas, will address these issues and more, providing unique insights vital to maximizing downstream profitability. As the first ever North American summit examining downstream crude strategy in the wake of enormous production shifts, the forum will scrutinize the relative economics of crude blending against refinery retooling, developing supply sources and global market opportunities for refined product exports.
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