Most Refiners Unprepared for End of `Golden Age', Deloitte Says - Bloomberg:
The vast majority oil refiners and chemical makers are ill-prepared for the looming end of the industry’s “golden age” amid the shale boom and shifting demand trends, according to Deloitte LLP.
With electric vehicles and stricter environmental regulations poised to encroach on refiners’ traditional markets, just 5% of the 1,350 companies analyzed by Deloitte have made substantial changes to their risk assessments in the past half decade.
“The golden age of downstream is coming to an end and most of the incumbent industry is not prepared for the upcoming new normal,” according to a Deloitte report authored by Duane Dickson, oil, gas and chemicals sector leader, released on Tuesday.
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