The refining industry has had some strong trends working in its favor for the past year.
There would have to be a big negative impact on the refining industry starting 4 years from now to justify the current selloff.
However, in view of its present high price, rhenium (used in highly fuel-efficient aircraft engines) is now recovered from scrap bimetallic catalysts used in the oil refining industry.
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"In the 50s the oil refining industry came, and now there we are in the 21st century at the start of a new era of natural gas import and processing, " he commented.
By that point Venezuela could also be a significant exporter of refined products like gasoline and jet fuel, as environmental controls and poor investment returns keep the U.S. refining industry from expanding to meet demand.
Oil companies have the ability to increase refining capacity, and industry executives are often reluctant to admit that speculation in oil commodities is part of the problem.
Alcoa is the world leader in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its active and growing participation in all major aspects of the industry: technology, mining, refining, smelting, fabricating, and recycling.
The oil and gas industry, especially in its extracting and refining, is heavily involved in U.S. manufacturing.
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The European petrochemical industry, which is based on oil refining, will experience a very slight headwind, at most.
ConocoPhillips is the third largest oil company in the U.S. It operates in all sectors of the oil and natural gas industry such as exploration and production, midstream, refining and marketing, and petrochemicals.
The meeting will address the vision, strategy and analytical framework for growth and efficiency of green initiatives and the international agenda around the following initiatives: Power system transformation, energy efficiency in industry, global water demand issues, bio-refining, trade, aviation and financing.
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Central bank liquidity policy needs refining and harmonising, as the Financial Stability Forum, a group of banking-industry regulators, made clear in a report in April.
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