What will happen to oil refining companies in 20 years?
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http://www.sohu.com/a/161659105_468637 The EU has proposed banning the sale of fuel-powered vehicles in over a decade. In the next few years, driven by **policy initiatives, electric vehicles are likely to experience explosive growth. So in the future, demand for diesel and gasoline in the general market will gradually decline. What should oil refining companies do?
The function of refining oil to produce finished products is likely to decline gradually, while its role in producing chemical raw materials will increase.
Due to the impact and development of new energy sources, the fuel oil sector is bound to shrink or even disappear. However, chemistry will remain essential in daily life, and development in the fields of oil refining and chemical processing will become more concentrated, with a more detailed classification of chemical products.