HP Global: Asia-Pacific’s refining industry entering a low-margin cycle
The global refining industry is struggling with overcapacity even after the closure of 3.5 MMbpd of capacity since 2011. Accordingly, global refining margins are expected to weaken in the coming years..
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The Author
Gupta, S. - Wood Mackenzie, Singapore
Sushant Gupta has more than 15 yr of experience in the energy industry, with a strong focus on the refining, crude oil and chemicals industries. Mr. Gupta is head of Wood Mackenzie’s Asia group, which is responsible for analysis of key trends and issues in the oil and refining markets, both regionally and globally. He has authored several research and consulting reports. Prior to joining Wood Mackenzie, Mr. Gupta worked for Singapore Refining Co., where he gained extensive experience in crude evaluation and purchase, refinery production planning, refinery economics and product supply planning. He also has more than 3 yr of experience with Schenectady International Group, a leading petrochemicals manufacturer in India. He earned a First Class MS degree in chemical engineering from the National University of Singapore.
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Construction Boxscore: Project Spotlight
Project:
Long Son Petrochemicals Complex
Location:
Long Son, Vietnam
Operator:
Siam Cement Group
Cost:
$5.4 B
Capacity:
1.65 MMtpy
Completion date:
2023
Status:
Under Construction
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