London-Thomas O'Malley, chairman of Europe's largest independent refiner Petroplus, said August 6 he sees the global refining industry entering an "age of reason," which would see refiners generate "reasonable" profits following a difficult period for the sector. Speaking on a conference call with analysts after announcing the company's second quarter results, O'Malley said the "dark age" of refiners seemed to be coming to an end, but that a new golden age was unlikely.
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