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Home > Information/Publications > Panorama technical reports > Panorama 2008 > Refining
Panorama 2008
Refining
Investment rallied in 2007, and many distillation and conversion projects likely to reach the industrial stage were announced. With economic growth sustained in 2006 and still pronounced in 2007, oil demand remained strong – especially in emerging countries – and refining margins stayed high. Despite these favorable business conditions, tensions persisted in the refining sector, which has fallen far behind in terms of investing in refinery capacity. It will take renewed efforts over a long period to catch up. Looking at recent events that have affected the economy in many countries (e.g. the subprime crisis), prudence remains advisable.
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Refining
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