[lbo-talk] "Golden age" of oil refining margins to end

[uvj at vsnl.com]

Reuters India

"Golden age" of oil refining margins to end
http://in.reuters.com/article/businessNews/idINIndia-30223320071029?sp=true

Tue Oct 30, 2007

By Ikuko Kao

LONDON (Reuters) - The global "golden age" of record refining profits is
likely to be over by the end of the decade thanks to more capacity from new
plants and higher costs due to record crude prices, industry analysts say.
Signs the boom is faltering have already emerged. ConocoPhillips suspended
production at its German refinery for a month in August due to low margins,
an unusually long shutdown in the peak summer driving season.
http://in.reuters.com/article/businessNews/idINIndia-30223320071029?sp=true