Success factors for oil refiners of tomorrow

Action in the mineral oil industry is intense as companies strive to position themselves successfully in the market while profits swing down, investment requirements swing up and consolidation shows no signs of slowing down. However, size is not everything and consolidation does not necessarily lead to success. Best practice companies have recipes for success that aim at much more than just sheer size: they're focusing their core capabilities, pursuing sustained cost and efficiency management and spinning off unprofitable activities. Their approach has a method: first, the right business model must be found and then, in-house structures must be optimized systematically. This can only be accomplished based on a serious evaluation of the strategy and of the refinery's operating efficiency. Those who also fulfill specific success criteria when optimizing both of the above can rightly consider themselves a best practice company of tomorrow.