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Increased gas extraction in North America and other regions has helped increase the supply and reduce the cost of natural gas (NG) while additional pipelines for distribution in Asia Pacific and Europe have improved availability. However, the collapse in global oilprices has eroded a significant portion of the natural gas cost advantage.
As if being the world’s biggest exporter of oil was not enough, the desert kingdom is now looking to conquer the refining sector as it has quickly become the fourth largest refiner in the world. With Saudi Arabia's refined fuel contributing to the global supply glut, what will be its impact on the refining markets especially those in Asia?
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