The refineries we appraise account for 2.8 million bbls a day, or one-sixth of the total daily refined capacity in the United States. We KNOW refineries.
No two refineries are the same, and our experienced engineers utilize their intimate knowledge to ensure the most accurate market values in the industry. We have experience dealing with companies such as ExxonMobil, Valero, Total, Motiva, and Shell, just to name a few.
The estimated cost for a new refinery is between two and four billion dollars. With all the red tape associated with construction, it is no wonder that the last new refinery built in the U.S. was started in 1976. Thus, existing refineries run at near 100% of capacity and are always expanding or being redesigned. This means technologies developed over several different decades are often present in one plant. Our engineers specialize in understanding these technologies.
Refinery appraisal is a highly complex process. Factors such as expansions, shutdowns, increased regulations, volatile market prices, sudden inventory changes, natural disasters, and acquisitions and mergers all affect market value. Our knowledgeable team accounts for every variable, bringing a lifetime of experience to the appraisal process.