Pockets of strength can still be seen in gross refinery margins across Asia. Oil consuming countries in the region have benefitted from the lower oil price environment which has fallen below $30 bbl since Monday,off the back of Iran’s re-entry into oil markets following the P5 +1 nuclear deal.
India, in particular has been a clear winner from these oil price falls: Reliance Industries has just posted third quarter profits – the highest in eight years while net income has increased to 72.2 billion rupees ($1.07 Billion) in the final three months of the year, earning $11.50 for every barrel it processed.
Reliance’s operational flexibility: its ability to process a varied diet of ‘challenged crudes’; its investments in its refinery-petrochemical integration and pursuit of minimising operational expenses has turned its two major adjacent refineries into world class refineries. Reliance’s senior VP for Refining and Marketing Business: Antony Francis will be taking part in ARTC’s panel discussion: on how refineries can ensure margins and profitability can be maintained. Mr Francis will no doubt outline how their investments have contributed to their success.
Elsewhere in Asia: certain major projects are currently being pushed back, like Petronas’s refinery and petrochemical integrated development (RAPID) project, what kind of type of time scale to commissioning are we to expect in the current environment? Run by GTF, the forthcoming ARTC 19th Annual Meeting in Kuala Lumpur on 19-21st Aprilwill offer a clear idea of the strategic thinking behind these project decisions. ARTC will also provide ample opportunities to network with senior refinery professionals that decide on technology selection.
Following the key note presentation from Petronas, IHS Global Insight will give a global oil outlook and the implications for Asia. This high level presentation will enable attendees to understand the broader issues and the impact on their refineries.Solomon Associates will also present their benchmarking findings on what makes a refinery world-class. Learn what the best refineries are doing to make them first quartile and what strategies poor performers are missing.
With tighter fuel specification mandates from regional Asian governments coming into force: Malaysia is due to introduce Euro 5 grade petrol and diesel in 2020, ARTC will highlight the key issues on what the consequences are for refineries and what they must do to be compliant. Refinery Attendees at ARTC will take home practical technology ideas from the case-studies on offer and learn how their peers are turning their units into high performing, operational available assets.
For over 20 years, Global Technology Forum has provided the international oil refining and petrochemical community with an invaluable forum for networking, ideas sharing and contact building. Our flagship event the European Refining Technology Conference (ERTC) Annual Meeting is recognised as the leading downstream event in Europe.
We have built long standing relationships with all of the oil majors, independent refiners, national oil companies and petrochemical operators, ensuring we consistently tap in to the key issues affecting the global industry. For more information visit: www.gtforum.com
Now in its 19th year, the ARTC Annual Meeting is a two day, dual stream technical conference hosted annually by Global Technology Forum (GTF). ARTC is the leading downstream event for refiners and petrochemical producers operating in the Asia Pacific region. Join us and senior decision makers for 2-days of technical analysis and real life case-studies as well as extensive networking opportunities at the meeting place for the Asian refining and petrochemical industries. For more information visit: artc.events.gtforum.com