Petroleum refining industry is undergoing drastic and visionary changes. The weird world is giving way to constructive plans and visionary challenges. The world of petroleum refining is now in a critical juncture with the fear and provoking challenges of depletion of the fossil fuel resources along with the inevitable concern of environmental sustainability. In such a situation , the answers to better refining possibilities need to be addressed. The vision is clear and permanent with new emerging areas in this domain. Today, man is standing in the midst of devil and deep sea as far as energy sustainability is concerned. The depletion of fossil fuel resources is of major concern in today's world and today's civilization. Here comes the need of renewable energy resources and the application of successful energy sustainability doctrine. This review deals lucidly on the future dimensions of petroleum refining vision and its countless solutions with the depletion of fossil fuel resources. It will also deal with new technologies in petroleum refining and its far reaching relevance towards energy sustainability. This treatise provides a keen insight into the immense new concepts and new vision targeted towards the next generation petroleum refining technology. The aim and the purpose of the study is to elucidate the challenges and vision of petroleum refining and the evolution of future strategies in this critical juncture of depletion of fossil fuel sources. The author delves deep into the recent advances of petroleum refining and the vision of energy sustainability also giving glimpses of advancements of fluidized catalytic cracking technology. Challenges, vision and optimism need to be restructured and reassessed in gearing up towards newer future avenues in petroleum refining technology.