Overview

Out of fuel: The declining price of crude oil has caused large revenue declines

IBISWorld’s Petroleum Refining and Petroleum Fuel Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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Industry Analysis & Industry Trends

Four major oil refiners generate the majority of revenue in the Petroleum Refining and Petroleum Fuel Manufacturing industry. These oil refiners process crude oil into a range of fuels and secondary products that are then sold to downstream markets. Crude oil purchase costs dominate the industry's cost structure. The cost of this input, in conjunction with exchange rate movements, contributes to significant revenue volatility as world crude oil prices are quickly passed on to domestic markets.

Significant declines in refinery output and crude oil prices have negatively affected the industry over the past five years, with industry revenue expected to decline by an annualised 8.1% over the five years through 2016-17, to total $22.7 billion...

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Industry Report - Industry Locations Chapter

Four of the industry's major operating petroleum refineries are located along Australia's east coast (one in Queensland and two in Victoria). The only other major refinery is located in Western Australia. These refineries were all constructed many decades ago and their location reflects the pre-eminence of the east coast as a demand centre for petroleum products, particularly transport fuels, and access to crude oil supplies from the Bass Strait and onshore Queensland.

The majority of industry revenue is generated in Victoria, Western Australia and Queensland in 2016-17. Other than the major operating petroleum refineries, the remaining establishments represent small-scale refineries or manufacturers that contribute minimal output towards industry revenue. The..

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Industry Products

What is the Petroleum Refining and Petroleum Fuel Manufacturing Industry?

Industry companies primarily refine crude oil or condensate (a light form of oil) to produce petrol, fuel oil, aviation fuel, grease base stock, petroleum gases and other petroleum products. Companies also blend materials into petroleum fuels and manufacture fuels from the liquefaction of petroleum gases. These products are then marketed by wholesalers and retailers, which may be owned by firms that operate the refineries.

Industry Products
Petroleum
Diesel
Aviation turbine fuel
Other refined petroleum products
Industry Activities
Automotive petroleum
Automotive and industrial diesel
Aviation fuel
Gas oil, fuel oil and heating oil
Jet fuel
Kerosene
Liquefied petroleum gas (in conjunction with petroleum refining)
Motor spirit
Oil or grease base stock
Petroleum refining and blending

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

Competitive Landscape

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
industry Globalisation

Major Companies

Operating Conditions

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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