January 2010

Trends and Resources

HP Impact: HPImpact: Struggles for US refiners expected to continue

In a recent refining industry piece, Deutsche Bank analysts took a gander at the US refining industry and wondered if the worst has passed for refiners. In short, they think not. ConocoPhillips CEO Ji..

Thinnes, Billy, Hydrocarbon Processing Staff

In a recent refining industry piece, Deutsche Bank analysts took a gander at the US refining industry and wondered if the worst has passed for refiners. In short, they think not. ConocoPhillips CEO Jim Mulva told the analysts that the company will not engage in any refinery sales, with the hope that the market for refiners will turn around over the next two years. If there is no market improvement, Mr. Mulva said ConocoPhillips would simply shutter the refineries in question. Deutsche Bank sees this as good news for independents, "if they can last that long." The report also said that Mr. Mulva is considering "canceling both a major Saudi refinery project at Yanbu and a major refinery upgrad

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