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Much 2017 oil demand growth to bypass refineries: BP

from Reuters

U.S. shale gas will displace a growing portion of the world's expanding energy demand, cutting into the need for oil products from refineries, BP's head of refining economics said on Friday. Natural gas liquids (NGLs) from the U.S. shale boom such as ethane, an alternative to naphtha refined from crude, could feed as much as a third of demand growth in 2017, BP's Richard de Caux told the Platts Refining Summit in Brussels. Refined oil products already in storage will further undercut refinery profits, he said. more

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