The past two years have been difficult for the global refining industry, with the economic downturn resulting in lower product demand. This has led to record-low capacity utilization and the closure of some refineries.

This makes Solomon Associates’ 2010 refining studies — the Worldwide Fuels Refinery Performance Analysis (Fuels Study) and the Worldwide Paraffinic Lube Refinery Performance Analysis (Lube Study) — especially relevant to operators.

Explains Bill Trout, manager of refining studies:

Now more than ever, refineries need to assess their competitive position and find ways to improve efficiency. Our studies are extremely valuable to refineries during down cycles, as budgetary pressures demand clear identification and quantification of expense reduction and margin improvement opportunities.

Solomon Associates’ most recent refining studies in 2008 included 320 refineries representing 85 percent of global refining capacity. The company anticipates continued strong participation in 2010.

Interested companies may learn more about Solomon Associates’ refining studies here.