Meltdown In Refinery Margins Has Majors, Independents Looking At All Options

摘要

Forget about 2008 - with 2009 shaping up to be the hardest for refiners in more than a decade, some major oil executives are looking at formerly unthinkable options to get them through the next 12-24 months. Comments from four of the largest U.S. refiners at a Merrill Lynch energy conference point to potential shake-ups that could transform North American markets. Chevron's exec John Watson said his company could consider selling some "underperforming" refining assets next year, thanks to the perceived difficulty in the margin environment in 2009.