Global US Refinery Derivatives on Way to New 2014 Records
Without any new refineries built from the ground up during the past 25 years, the 20 to 25% capacity increase that America’s world-leading individual units have achieved has allowed these 140 plus refineries to increase output to accommodate both domestic and export sales opportunities.
It’s remarkable to learn that Valero Energy, Exxon Mobil, and Phillips 66, the three largest U.S.-based refineries can together process more than five million barrels of crude each day. In effect, the U.S. is on the way to becoming the world’s main fueling station, as both current and developing world economies are proceeding to greatly increase their consumption of both crude, and such derivatives as gasoline, diesel, heating oil, jet fuel, and the vast number of consumer products using “crude” as their b
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