Oil and Gas Refining

Scoping out oil and gas refining companies

The oil and gas refining industry has been a powerful force not only for the U.S. economy, but for the global market as well. As countries continue to experience economic growth, oil is becoming a hot commodity. Due to this global demand, the need for oil and gas refineries has increased,too.

Oil and gas refineries play dominant roles not just in producing oil, but in producing other products as well. Refineries convert crude oil into fuels such as gasoline and diesel. Products like crayons, plastics, and synthetic fibers also come from oil. As you scope out refining companies, consider the following:

1. Check into builders of oil and gas refining plants.

2. Look at oil refining companies that specialize in crude oil refinery processes.

3. Invest in gas refining companies that refine natural gas and gasoline.

 

Look at builders of oil and gas refining plants

These companies represent the front line of oil and gas refineries. After all, they are the ones that design and build the oil and gas refining plants for the oil refinery company. Oil and gas refineries rely on these builders to make sure the plants comply with governmental laws and meet environmental protection agency standards. In addition, builders of gas refining plants must perform routine maintenance and emergency repairs.
Try: Shamrock Gulf specializes in building plants for oil refinery companies, in addition to providing regular maintenance and emergency repairs; it also provides tank and vessel services. You’ll also want to check into Strongwell Corp. This company constructs plants for oil and refinery companies located offshore. One type of material that Strongwell uses is fiberglass; fiberglass combats salt water and salt air.

Check into oil refining companies that specialize in crude oil refinery processes

Look for companies that use processes such as catalytic cracking or delayed coking. These processes take crude oil that's somewhat heavy and develop transportation products, invest insuch as gasoline, propane, and diesel fuels. You'll also want to watch the companies that can perform other processes, including producting jet fuel and gas to liquids.
Try: CVR Energy specializes in catalytic cracking as well as delayed coking; it has been in business for more than 100 years. CVR Energy is an independent petroleum company that provides high quality transportation fuels. Intertek Group, a global company, provides various petroleum refinery processes, such as crude oil desalting and high efficiency batch fractionation.

Look into the oil refinery companies that refine natural gas and gasoline

There's no doubt, both gas refining and natural gas refining are highly specialized processes. It's best to stick with companies that have been involved in the gas refining business for a long time. Visit the company's website, and become familiar with its history as well as its management.
Try: A proven leader in petroleum refining, UOP has been in business for more than 90 years. UOP, a Honeywell company, develops new technologies, such as ISAL and InAlk. General Electric is also heavily involved in oil and gas refining. As one of the leading equipment suppliers to global oil refining companies, General Electric offers various services, such as gas turbine packages for power generation.

Copyright © 2011 Business.com, Inc. All Rights Reserved.

---