World's Top 25 Largest Refiners, Jan 1, 2013 -- OGJ

by David Rachovich

World's Top 25 Refining Companies 

Rank  Jan 1, 2013	Rank  Jan 1, 2012	Company	Crude Capacity, barrels per calendar day (b/cd)*
1.	1.	ExxonMobil Corp. [USA]	5,657,500
2.	2.	Royal Dutch/Shell [NL/UK]	4,194,239
3.	3.	Sinopec [China]	3,971,000
4.	4.	BP [UK]	3,322,170
5.	5.	Valero Energy Corp. [USA]	2,776,500
6.	6.	PDVSA [Venezuela]	2,678,000
7.	7.	CNPC [China]	2,675,000
8.	9.	Chevron Corp. [USA]**	2,584,600
9.	8.	Phillips 66 [USA]	2,504,200
10.	10.	Saudi Aramco [Saudi Arabia]	2,451,500
11.	11.	Total SA [France]	2,304,326
12.	12.	Petrobras [Brazil]	1,997,000
13.	13.	Pemex [Mexico]	1,703,000
14.	14.	NIOC [Iran]	1,451,000
15.	15.	JX Nippon Oil & Energy [Japan]	1,423,200
16.	16.	Rosneft [Russia]	1,293,000
17.	18.	Marathon Petroleum Co LP [USA]	1,248,000
18.	17.	OAO Lukoil [Russia]	1,217,000
19.	19.	SK Innovation [South Korea]	1,115,000
20.	20.	Repsol YPF SA [Spain]	1,105,500
21.	21.	KNPC [Kuwait]	1,085,000
22.	22.	Pertamina [Indonesia]	993,000
23.	23.	Agip Petroli SpA [Italy]	904,000
24.	24.	Flint Hills Resources [USA]	798,475
25.	25.	Sunoco Inc [USA]	505,000

Notes: Major changes in positions since Jan. 1, 2012, are few: Chevron and Phillips swapped ranks as well as Marathon and OAO Lukoil. Other changes in capacity are due to adjustments in declared capacity. � Please read Warren R. True and Leena Koottungal, "Asia, Middle East Lead Modest Recovery in Global Refining," OGJ, Dec 3, 2012, Table 1. Top 5 largest refiners (refining companies) in the USA are: Valero (12 refineries with 2,096,500 b/cd of crude capacity), Phillips 66, ExxonMobil, BP and Marathon---please see ibid., Table 2. For the USA, Valero has moved into the top spot for company-wide capacity, pushing Phillips 66 to No. 2. Also, please see my post "Top 20 Largest Refining Companies/Refiners in the U.S. as of Jan 1, 2011." -- D.R 

 *Includes partial interests in refineries not wholly owned by the company.

 **Includes holdings in Caltex Oil and GS Caltex.

Source: Oil & Gas Journal, Dec 3, 2012.

(Please see my posts: "World's Top 25 Largest Refining Companies, Jan 1, 2011 � OGJ, "World's Top 21 Largest Oil Refineries � OGJ," Jan 6, 2013; "World's Top 21 Largest Oil Refineries � OGJ," Feb 7, 2012; and Aaron & David Rachovich, "World's Top 21 Largest Oil Refineries � OGJ," Feb 19, 2011 � D.R.)

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Argentina's Senate Approves Bill to Expropriate YPF

by OGJ editors, OGJ, Houston, Apr 26, 2012
Argentina�s Senate voted in approval of Argentina President Cristina Fernandez de Kirchner's bill to expropriate YPF SA, and the Lower House of Congress is expected to vote on the measure next week. YPF was a state-run company until it was [fully] privatized in 1999. [Please see remarks below -- D.R.]

Kirchner asked Congress to renationalize YPF by expropriating 51% of it from Repsol YPF SA, which holds 57% of the company [thus slashing Repsol's stake to 6.4% -- D.R.]. She has said YPF underinvested in exploration and production, forcing Argentina to become a net energy importer. [Please see remarks below -- D.R.]

Repsol has vowed to take legal action, saying YPF invested about $3 billion in 2011 and that the company was the biggest investor in Argentina�s oil and gas industry.

�The unlawful expropriation of YPF does not affect the growth capacity of any of Repsol�s businesses outside Argentina,� Repsol said (OGJ Online, Apr. 17, 2012).

The Argentina Senate voted 63-3 in favor of expropriating YPF with 4 members abstaining from the vote. [Full story]

(The full privatization of YPF was completed in 1999 when Repsol of Spain acquired controlling stock from the Argentine state and the stock market---please see Sang-Hyun Yi, "The Political Economy of Privatization of YPF in Argentina," paper, Pusan University of Foreign Studies. For Argentina's crude oil production during the last years, please see "Top 6 Oil Producers in Central & South America, 2006-Feb. 2011 -- EIA." There has been a gradual erosion of Argentine crude oil output from its peak in 1998: in 1998 Argentina produced a record 846,700 barrels per day, but production has declined since, falling to 587,200 barrels per day in 2011---please see U.S. EIA data. The EIA attributed this decline to relatively low levels of exploration activity, combined with natural declines from maturing fields---please see EIA, Argentina Country Analysis Brief. ExxonMobil's Argentinean operations were so far unaffected by YPF takeover: The Argentinean government's decision to take control of Spanish-owned YPF didn't affect ExxonMobil's first-quarter operations in the country. The U.S. oil major said it finished drilling two unconventional wells in that period and will complete or frack those wells in the second quarter. Exxon said it will continue to observe developments in the region---please see SmartBrief, Apr 27, 2012. Update: The Chamber of Deputies [The Lower House of Congress] voted 207 to 32 in favor of expropriating YPF [...], clearing the way for President Cristina Fernandez to sign the bill into law---please see The Telegraph, May 4, 2012 -- D.R.)

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Top 21 World Oil Consumers, 2007-2010 -- BP

by Aaron and David Rachovich

Oil Consumption*  

Rank	Country	Year 2010 (thousand barrels per day)	Year 2009 (thousand barrels per day)	Year 2008 (thousand barrels per day)	Year 2007 (thousand barrels per day)
1.	United States	19,148	18,771	19,498	20,680
2.	China**	9,381	8,481	8,230	8,141
3.	Japan	4,451	4,391	4,836	5,029
4.	India	3,319	3,211	3,068	2,835
5.	Russia	3,199	2,936	3,036	2,913
6.	Saudi Arabia	2,812	2,624	2,387	2,200
7.	Brazil	2,604	2,399	2,382	2,234
8.	Germany	2,441	2,409	2,502	2,380
9.	South Korea	2,384	2,326	2,287	2,389
10.	Canada	2,276	2,179	2,288	2,323
11.	Mexico	1,994	1,996	2,055	2,070
12.	Iran	1,799	1,787	1,822	1,718
13.	France	1,744	1,822	1,889	1,911
14.	United Kingdom	1,590	1,610	1,683	1,716
15.	Italy	1,532	1,563	1,661	1,740
16.	Spain	1,505	1,525	1,587	1,629
17.	Indonesia	1,304	1,289	1,264	1,270
18.	Singapore	1,185	1,067	990	941
19.	Thailand	1,128	1,121	1,090	1,088
20.	Netherlands	1,057	1,041	1,069	1,123
21.	Taiwan	1,026	983	990	1,093
Total World		87,382	84,714	85,999	86,428
OECD		46,438	45,963	48,053	49,611
Non-OECD		40,944	38,751	37,946	36,817
EU		13,890	14,016	14,757	14,801

*Inland demand plus international aviation and marine bunkers and refinery fuel and loss.  Consumption of fuel ethanol and biodiesel is also included.

**Including Hong Kong. Hong Kong's consumption was 324,000 b/d in 2010, 280,000 b/d in 2009, 293,000 b/d in 2008 and 324,000 b/d in 2007 (D.R.)

Source: BP Statistical Review of World Energy, June 2011, here.

(China's oil consumption, including Hong Kong China, grew by 0.9 million barrels per day, or 10.6%, to reach 9.4 million barrels per day in 2010, according to the BP's figures. Please compare the BP's data with the EIA data -- "Top 25 World Oil Consumers, 2009-2010 -- EIA." Update: Please see my post "World's 22 Largest Oil Consumers, 2007-2011 -- BP"  -- D.R.) 

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