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China enters and Russia deepens its influence in European refining

03.01.2011  |  Wright, Tim L.,  HP, Sweden

Keywords: [refining] [Europe] [Asia] [China] [economics]

Like for the local couple that went long-distance ice skating here on the Swedish west coast recently, there are disconcerting rumblings of change underfoot in the European refining industry. This couple saw a wave rolling toward them one morning as they skated half a mile from the mainland. It was from a large tugboat, whose portly progress created a slow wash that slipped under the soft salt ice and continued toward them. In its wake, they were stranded on a small iceberg. Much to their chagrin, they began a slow drift out to sea.

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