STRUCTURAL CHANGE IN FEEDSTOCKS SUPPLY FOR THE PETROCHEMICALS INDUSTRY.

The European petrochemicals industry has grown up on the basis of an assured supply of cheap naphtha, a very comfortable position that lasted for 25 years. The oil industry was able to find and produce crude oil in ever-increasing amounts and to finance the necessary tankers and refineries well in advance of the growth in demand - a secure background indeed for the infant petrochemicals industry. By the early 1970s a new factor merged: the installations being planned and built for base chemicals were of such a size that the local demand for naphtha was becoming really significant in relation to the output from even large refineries. The discussion of the subject is presented under headings - strong underlying trend; feedstock availability, gas oil and fuel components; understanding and anticipation.