October 2009

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HPIn Europe: NOC megaprojects, not climate policies, will be closing your local refiner

Some 800,000 bpd (800 Mbpd) of refinery expansion capacity, which faded and disappeared from the radar of the OECD's energy forecasts last year, is now back. There was quite a fanfare over capacity re..

Wright, Tim L., Hydrocarbon Processing Staff

Some 800,000 bpd (800 Mbpd) of refinery expansion capacity, which faded and disappeared from the radar of the OECD's energy forecasts last year, is now back. There was quite a fanfare over capacity reductions this time last year when two major refining projects were shelved and thereby fell way off the horizon of the International Energy Agency's (IEA's) mid-term reporting. More bad news. Now, at a time of extreme economic stress for the European refining industry, it's sobering that, when the medium term report is published next month, these megaprojects will be back in the IEA analysis. If you're a European refiner, it has to leave you feeling glum. It will mean the possible closure of e

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