Capacity constraints and fat margins have set off a flurry of investment plans to expand global refining capacity.In the unlikely event that all the projects go ahead,a whopping 12 million barrels per day expansion is promised by the end of the decade from an estimated 85.04 million b/d currently.Experience suggests that many of the proposed expansions will never materialize,ensuring that margins stay on the boil as the industry struggles to keep up with growing demand,especially for cleaner and lighter fuels.
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