Release Date: December 2007
Next Release Date: December 2008  

• Data, Charts and Graphs
  
  
• Major Findings
• Financial Information
• Production
• Refining & Marketing
• About the Financial Reporting System Companies
• Market Overview
  
  
• Acronyms
• Financial Terms
• Glossary
  
  
  

Refining & Marketing

1. Refining/marketing net income in 2006 increased to $32 billion, up 7 percent (in constant 2006 dollars) from 2005.

2. Profitability for refining/marketing rose to 24 percent, the highest level ever in the FRS.

3. The U.S. refined product net margin increased to $5.29 per barrel, $1.66 per barrel higher than the previous peak in 2005.

4. The average price of refined products sold by FRS companies rose 14 percent in 2006, outpacing increases in raw materials, energy, and other operating costs.

5. Refining/marketing capital expenditures declined in 2006, but the 2006 level was higher than all but three of the 30 years since the survey began.

6. FRS domestic refinery output fell 2 percent in 2006 while foreign output increased less than 1 percent from 2005. Total refining capacity of FRS companies rose slightly in 2006.

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