Asian refiners look for answers in petrochemicals as EVs threaten transport fuels' future

Oil Markets

Refiners in Asia are crafting out expansion strategies and pumping billions of dollars to diversify their portfolio and adapt to the changing energy landscape. Renewables, hydrogen and solar energy are starting to figure in their ambitions. But a key area of focus for refiners is to raise their petrochemicals intensity to ensure business models remain profitable in the event electric vehicles and other cleaner forms of energy take a toll on demand for transport fuels. In a wide-ranging discussion with Asia Energy Editor, Sambit Mohanty, three senior market experts at S&P Global Commodity Insights -- Maria Tsay, Global Head of Petrochemicals Pricing, Zhuwei Wang, Asian Oil Analytics Manager, and Pulkit Agarwal, India Content Head -- share their insights on whether going further downstream would be the only option for refiners to remain profitable and over the longer term.

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