Greenhouse gas(GHG)emissions occur alongside an inflection point for global refined product consumption.Since the 1850s-when the first oil refineries were constructed-the world has changed dramatically as refined product demand has continued inexorably upward.This assumption is no longer valid as refined product demand has little to no incremental growth beyond its pre-pandemic COVID-19 level.During COVID-19,the International Energy Agency(IEA)reported global demand for crude oil decreased by about 30%,which is a decrease of 30 MMbpd.A significant reduction in the crude oil demand was a direct result of the mobility restrictions during the pandemic and heavily impacted the petroleum industry.Furthermore,the increasing demand for clean fuel consumption and the growing electric and hybrid vehicles market contributed to the decrease of conventional fuels production.Today,80% of each oil barrel is used to make fuels,while the rest is converted into petrochemical products.Facing the global market challenges,the refining industry is encouraged to look for alternatives that ensure its survival and sustainability Better integration between refining and petrochemical production processes maybe a solution to the challenge.Based on the latest trend of increased green fuels production,it is estimated that fuel production tendencies will shift towards increased production of chemicals,which is estimated to double by 2030.The focus on the closer integration between refining and petrochemical industries is to enhance the synergies of the existing opportunities between both sectors to generate value to the entire crude oil production chain.
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