Overview

A refinery refers to a set of processes that use crude oil as the raw material and produce final products such as petroleum and other derivatives through various refining operations. In addition to these primary outputs, refineries also generate by-products that are useful for different infrastructure applications. Refinery industries comprise various plants and technologies for purifying crude oil and natural gas, converting them into usable forms. It is well known that the major portion of production cost in a refinery is influenced by two factors: the price of raw materials and the cost of conversion. Even a small or negligible change in the international crude oil price can have a significant impact on production costs in the refinery sector. Therefore, it would be incorrect to consider the industry fully self-dependent, as it relies heavily on external and often uncontrollable factors. Despite this dependency, the refinery industry plays a crucial role in a nation's economy due to its substantial investments and its close linkage to the global market.

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