Refining the market: Faced with a shrinking market and rising costs, Western refineries are struggling to compete with a boom in Asia

摘要

THE first few months of 2012 have made for grim reading as far as most refiners are concerned. Facilities throughout Europe, North America and Australasia have been affected by shrinking margins, dwindling demand and an over-saturated marketplace, leading to a wave of losses, closures and cutbacks.