According to M. King Hubbert initial work and then during past decades according to most important experts, the world oil production will follow the curve shown here, with the peak reached between 2000 and 2010 .

Conclusions:

· More or less the maximum world oil production is reached now.

· Most refineries are operated under their nominal capacity:

1. Already today world refining capacity is quite enough.

2. Refining over capacity will increase very quickly in the near future.

· A "grass-roots" refinery is a long term project :

1. Past fast increasing trend of oil production was helping such investments.

2. Future fast decreasing trend of oil production will block most investments