The future of oil: Refining’s shift to chemicals
At the 2020 ADI Forum, Horace Hobbs, Chief Economist, Phillips 66, discussed the oil industry’s strategic shift toward chemicals as fuel demand decreases, leading to the transformation of refineries into petrochemical hubs. Companies like Reliance are planning to convert refineries to produce olefins and aromatics instead of conventional fuels, a trend particularly relevant in resource-rich […]