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‘Refining profit stays weak on overcapacity’

‘Refining profit stays weak on overcapacity’
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First Published: Mon, Jan 25 2010. 11 54 PM IST
Updated: Mon, Jan 25 2010. 11 54 PM IST
Singapore: Profits from turning crude oil into petroleum products may remain weak for refiners over the next few years on the back of rising crude prices and limited demand, Ernst and Young Llp said.
Overcapacity in refining will be the biggest issue facing integrated oil and gas companies globally and particularly in Asia, Sanjeev Gupta, Ernst and Young’s co-leader for oil and gas in the Far East, said.
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First Published: Mon, Jan 25 2010. 11 54 PM IST