Asian refiners edging out US competition
Rising decarbonisation costs make coastal US refiners vulnerable to expanding Asian export capacity
The closure of ageing refining capacity in recent years amid mounting competition and environmental compliance costs has left US coasts increasingly dependent on imported refined oil products. And export-oriented refineries are having to contend with escalating competition for traditional markets. Ballooning overcapacity East of Suez, where Asia will add 0.39mn bl/d of capacity in 2022 and Middle Eastern capacity will grow by 0.89mn bl/d year-on-year, means gasoline and diesel will be cheap enough to export to Latin America, the US west coast and West Africa. Gulf Coast diesel will also face stiff competition for a slice of the European market in the coming years. Naphtha remains a bright sp
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind