Authors: R. Bacon, M Chadwick, J. M Dargay, Robert Mabro,

Demand, Prices & the Refining Industry

This book of essays analyses the behaviour of demand for petroleum products in Europe, the structure of European refining and the patterns of investment and disinvestment in refining, the characteristics of capacity utilization in refining and of the marginal refining yield, the determinants of product price movement and their relationship to crude oil price behaviour and finally the characteristics and change over time of petroleum product taxation in Europe. The first chapter provides a summary presentation of the findings, a synthetic view of their relationships to one another and a brief discussion about future developments.

The analysis and findings in the essays collected here relate to the major concerns of oil companies in Europe, oil-producing countries interested in expanding their activities downstream in Europe, governments and organizations of states, and the oft-forgotten final consumers.

Contents

  1. Petroleum Products in Europe: Demand, Refining and Price Behaviour
  2. Trends in the Demand for Petroleum Products
  3. An Econometric Analysis of the Demand for Oil Products
  4. The European Refining Industry: Structure and Changes, 1976-8
  5. The Propensity of European Refineries to Shut Down between 1976 and 1986
  6. Refining Yield, Capacity and Output
  7. The Relationship between Product Prices and Crude Prices
  8. Relative Product Prices
  9. The Taxation of Petroleum Products

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