R&M PROFITS TO EBB IN 2006 VERSUS 'UNSUSTAINABLE' 2005 LEVELS

摘要

Despite tight global refining capacity, downstream profits could decline 10% - 20% in 2006 compared to 2005, one investment analyst said last week. Refining operations last year benefited from a number of unexpected events that propelled margins in the U.S., Europe and Asia-Pacific to unsustainably high levels, said Bruce Lanni of A.G. Edwards & Sons.