Our Downstream business is one of the world’s largest refiners and lubricants manufacturers. Our 22 refineries – 17 of which are co-located with chemical or lubricant facilities – enable us to manufacture higher-value fuels, lubricants, and chemical products more efficiently than our competitors.
We are highgrading our product slate to maximize the value of every molecule. Our long-standing record of technology leadership underpins the development of the products our customers demand.
Our integrated business model across the entire value chain enables us to benefit from lower-cost feedstocks. Our proprietary process and catalyst technologies help convert those feedstocks into the fuels and lubricants marketed under our world-renowned brands:
The full value-chain integration is expected to generate an additional $1 billion in the U.S. Permian alone.
Global Downstream portfolio
Downstream value chains
By 2040, demand for transportation fuel is expected to increase by nearly 30 percent, driven by commercial transportation in developing countries. Demand for diesel fuel is expected to increase by more than 30 percent, while worldwide gasoline demand is expected to level off, as declining demand for light-duty transportation fuel in developed countries is offset by growth in developing nations.
Lubricant demand is also expected to grow, particularly in Asia. Within the high-value synthetic lubricants sector, where we have a leading market position, demand is expected to outpace industry growth significantly.
We selectively invest in sites and value chains that generate the highest returns. Our integrated business model, world-class assets, and feedstock flexibility have positioned us to be a market leader across the business cycle.