The refined petroleum products manufacturing market comprise companies that convert crude petroleum to refined petroleum products such as gasoline, naptha, diesel fuel and liquefied petroleum gas and then sell these refined products. Petroleum refineries are large industrial complexes with extensive pipeline networks carrying crude oil and refined petroleum products between sub processing units. Revenues in this market represent the value of the different refined petroleum products.
Refined petroleum products manufacturing market in this report is segmented into diesel, gasoline, fuel oil, kerosene, and others.
Asia Pacific was the largest region in the refined petroleum products manufacturing market in 2017, accounting for around 36% market share. This was mainly due to large consumption of refined petroleum for industrial and consumer purposes in countries such as China and India.
North America was the second largest region accounting for around 21% market share. Africa was the smallest largest region accounting for around 4% market share. This can be attributed to Africa’s relatively low income earning population and underdeveloped economy.
Refinery Carbon Capture And Storage Refineries are increasingly adopting Carbon Capture and Storage techniques to reduce CO2 emission levels in the atmosphere. This technique involves trapping of CO2 at its emission source and transporting it to a different storage location which is actively monitored and measured. This way CO2 is isolated from the atmosphere, thereby reducing emission levels.
For instance, Quest, a partnership venture of Shell, Canada Energy and Chevron is fully integrated CCS project that captures CO2 produced from refineries and prevents it from entering the atmosphere by storing it in underground formations. Globally there are about 15 large scale projects and 7 under construction projects with the capacity to capture about 40 million tonnes CO2 per annum, thus indicating the potential of CCS technology in minimizing carbon emissions.
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