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Petroleum Refining

Publisher First Research, Inc.
Published Dec 29, 2025
SKU # FRRS20678591

Description

Companies in this industry refine crude oil to produce fuel and other products. Major companies include Chevron, Exxon Mobil, and Valero (all headquartered in the US); BP (the UK); and Royal Dutch Shell (the Netherlands).

COMPETITIVE LANDSCAPE

Demand is driven by consumption of gas and diesel fuel. The profitability of refineries depends on feedstock prices, efficient operations and the best mixture of products. Although there are significant economies of scale in refinery operations, a small refinery can compete effectively with large ones if it's located in a favorable market area, or if it produces specialty products that are in high demand. The US industry is highly concentrated: the eight largest companies account for about 70% of revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major products include motor gasoline (regular and premium combined), which accounts for about 45%, followed by distillate light fuel oil, accounting for about 25%. Jet fuel accounts for about 10% and refined petroleum products account for about 5%. Other products account for about 15%.

Table of Contents

Industry Overview
Quarterly Industry Update
Business Challenges
Business Trends
Industry Opportunities
Call Preparation Questions
Financial Information
Industry Forecast
Web Links and Acronyms

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