https://blog.metalpilot.com/tags/downstream/ Recent content in Downstream on Metal Pilot Blog Hugo en Copyright © 2026, Metal Pilot Tue, 18 Aug 2026 18:00:00 +0200 https://blog.metalpilot.com/guides/downstream-oil-gas/ Tue, 18 Aug 2026 18:00:00 +0200 https://blog.metalpilot.com/guides/downstream-oil-gas/ <blockquote> <p><strong>Data as of 18 August 2026.</strong> The framework — what the three downstream businesses are, how a crack spread is earned and lost, how to read a refiner — is evergreen. Capacities, yields and margins are agency and company figures for their stated year (refinery data lags about a year); margins are period averages, never a day&rsquo;s print — re-source them at the time of use. Worked examples are hypothetical unless a table names its company and year. For information only; prepared with AI assistance — see the disclaimer.</p>