Petroleum & Coal Products Manufacturing
Brief Excerpt from Industry Overview Chapter:
Companies in this industry refine crude oil and coal into fuel, asphalt products, lubricating oils, and other products. Major companies include US-based Chevron, Exxon Mobil, Marathon, and Phillips 66, as well as Cabme (Ecuador), CPC (Taiwan), ENI (Italy), Indian Oil (India), JXTG Nippon (Japan), SK Energy (Korea), and Suncor Energy (Canada).
Demand is driven by consumption of gasoline and diesel fuel and by construction activity. The profitability of individual companies depends on efficient operations. Larger refinery and asphalt companies enjoy economies of scale, but small companies can compete by producing specialty products that are in high demand. The US industry is highly concentrated: the 50 largest companies account for about 95% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include gasoline, diesel fuel, and jet fuel; as well as asphalt paving mixtures and asphalt blocks, and roofing and saturated materials. Other products include heavy fuel oil; liquid petroleum gas (propane and butane); tar and asphalt; petroleum coke; and petroleum lubricating oils and jellies. Diesel fuel and heating oil are jointly called "distillates."
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