| Abstract |
At its core, the petroleum refining industry comprises establishments primarily engaged in refining crude petroleum into finished petroleum products. Examples of these petroleum products include gasoline, kerosene, asphalt, lubricants, and solvents, among others. Firms engaged in petroleum refining are categorized under the North American Industry Classification System (NAICS) code 324110. In 2006, 149 establishments owned by 58 parent companies were refining petroleum. That same year, the petroleum refining industry shipped products valued at over $489 billion (U.S. Department of Commerce, Bureau of the Census, 2007). This industry profile report is organized as follows. Section 1.2 provides a detailed description of the inputs, outputs, and processes involved in petroleum refining. Section 1.3 describes the applications and users of finished petroleum products. Section 1.4 discusses the organization of the industry and provides facility- and company-level data. In addition, small businesses are reported separately for use in evaluating the impact on small business to meet the requirements of the Small Business Regulatory Enforcement and Fairness Act (SBREFA). Section 1.5 contains market-level data on prices and quantities and discusses trends and projections for the industry. |
