Downstream: Competing through the cycles
Shri Sanjiv Singh, Chairman, Indian Oil Corporation Ltd. (IOCL); Tufan Erginbilgic, Chief Executive, Downstream BP p.l.c.; Arif Mahmood, Executive Vice President and CEO Downstream, PETRONAS in a discussion moderated by Kurt Barrow, Vice President, Oil Markets, Midstream and Downstream Insights, IHS Markit. The downstream business of refining crude oil and marketing products to end-users has long been a valuable, if occasionally out of fashion, part of the oil company portfolio. Today, the downstream business is attractive to a range of different types of owners. These companies seek out downstream profits from processing new low-cost crude oils, capturing product growth in emerging markets, and integrating further into petrochemical. Still, there is the ever-present concern that increasingly stringent policies aimed at decarbonization and local air quality will affect the downstream pillar of the oil business.