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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