2024 Petroleum Refineries Industry Statistics Report

Petroleum Refineries - Market Size and Industry Forecast

The 2024 Petroleum Refineries Industry Report contains historical and forecasted statistics used by leading private equity firms and consultants. Market sizes from 2019 to 2029 reflect industry trends and growth patterns. Revenues include both public and private companies in the Petroleum Refineries industry.

Market Size (Total Revenue)


% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company
Source: U.S. government financial data.

Industry Revenue ($ Billions)

Industry Market Size
  • 2017
  • 2018
  • 2019
  • 2020
  • 2021
  • 2022
  • 2023

Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.

Petroleum Refineries - Geographic Breakdown by U.S. State

Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Petroleum Refineries companies in the United States.

Petroleum Refineries Revenue by State

Market Size by State

Distribution by Company Size

Company SizeAll IndustriesPetroleum Refineries
Small Business (< 5 Employees)


Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Petroleum Refineries - Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:
The report includes a traditional income statement from an "average" company (both public and private companies included).

Industry AveragePercent of Sales
Total Revenue


Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit

Average Income Statement

Average Income Statement

Cost of Goods Sold

Salaries, Wages, and Benefits



Depreciation and Amortization

Officer Compensation

Net Income

Petroleum Refineries - Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial RatioIndustry Average
Profitability Ratios


Profit Margin
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Petroleum Refineries - Product Mix

Product DescriptionDescriptionRevenue
($ Millions)

Petroleum refineries


Gasoline, including finished base stocks and blending agents

Motor gasoline, regular grade

Motor gasoline, premium grade

Gasoline, incl. finished base stocks and blending agents, nsk

Jet fuel

Kerosene, excluding jet fuel

Light fuel oils

Distillate fuel oil, incl. grades No. 1, 2, light diesel-type

No. 4 type light fuel oil

Petroleum Refineries - Compensation and Salary Surveys

TitlePercent of WorkforceBottom QuartileAverage (Median) SalaryUpper Quartile
Management Occupations6%


Chief Executives0%
General and Operations Managers2%
Architecture and Engineering Occupations10%
Office and Administrative Support Occupations7%
Construction and Extraction Occupations8%
Construction Trades Workers6%
Installation, Maintenance, and Repair Occupations9%
Other Installation, Maintenance, and Repair Occupations7%
Production Occupations41%
Supervisors of Production Workers6%
First-Line Supervisors of Production and Operating Workers6%
First-Line Supervisors of Production and Operating Workers6%
Plant and System Operators20%
Miscellaneous Plant and System Operators20%
Petroleum Pump System Operators, Refinery Operators, and Gaugers18%
Other Production Occupations11%
Transportation and Material Moving Occupations7%

Government Contracts

In the past, the federal government spent an annual total of $666,784,339 on the petroleum refineries industry. It has awarded 25,918 contracts to 590 companies, with an average value of $1,130,143 per company.

Petroleum Refineries and Adjacent Industries - Top Companies

($ Millions)


Petroleum Refineries Industry Research
GeographyUnited States  
Publication DateMay 2024
Report FormatPDF Download  PDF

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