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First published in 1983, this book provides a detailed look at the OPEC nations' changing roles in the world oil market as they expanded their participation in "downstream" activities. The authors begin with a detailed survey of world oil resources and an overview of the production capabilities and polices of major oil exporters. They then examine the contemporary refinery overcapacity crisis in the developed world, outline the refinery construction plans of the OPEC nations and the refinery scrapping problems in the industrialised world, and employ simulation tools to estimate the future output mix of refineries in key OPEC nations. They then examine the tanker industry, OPEC's ventures into petrochemical manufacturing and natural gas processing before concluding with a chapter on OPEC's future.
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