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  • What is the palm oil refining industry?
  • The palm oil refining industry is one of the most important manufacturing sectors in the world. Palm oil has become an increasingly important vegetable oil in the world market and currently, Indonesia & Malaysia are the largest producer and exporting company of Crude Palm oil.
  • Where are palm oil refineries typically located?
  • Palm oil refineries are typically located close to ports from which the palm oil can be shipped to other destinations. Wilmar, for instance, owns shipping companies such as Yihai Kerry International Trading Co. Ltd which transport palm oil and other related palm oil products around the world.
  • Is Venezuela a Titan in the global oil industry?
  • Venezuela had everything to be a titan in the global oil industry. One of the founding members of the Organization of the Petroleum Exporting Countries (OPEC), the South American nation holds the largest crude oil reserves in the world, amounting to more than 300 billion barrels.
  • Why is the Venezuelan oil industry on the brink of collapse?
  • Despite its advantageous resources, a combination of mismanagement, production crises, insufficient financial assets, and economic sanctions have put the Venezuelan oil industry – along with the national economy – on the brink of collapse.