Major Shift Expected in Global Fuel Consumption Towards Nonconventional Sources
In the next decade, most of the world's crude oil will come from traditional sources, with only about 10% coming from newer types of oil. Fuel standards are getting stricter, which means refineries may need to change how they work. Using more hydrogen and catalysts could help meet these new standards. Combining refining with other operations can make refineries more efficient and help control emissions. Overall, big refineries are becoming more popular than small ones, with some small refineries being upgraded or shut down.