New refineries to halve Singapore margins: report

摘要

Auckland, New Zealand-Gross refining margins in Singapore will be slashed by half this year as a wave of new refining capacity in Asia undermines the profitability of processing crude oil into refined products, analysts with US banking giant Citigroup said in a report released late last week. Citigroup predicted that 1.3 million b/d of refining capacity would be added in Asia this year, at five separate projects.