Middle East Economic Survey

VOL. XLVIII

No 15

11-April-2005

MEES Agenda

Outlook For Complex Refining Margins Strong But New Investment Urgent

The wide price spread between heavy sour and light sweet crudes has boosted margins for refiners able to handle complex upgrading in the last few years. But with spare global oil refining capacity narrowing and environmental standards requiring ever-tighter product specification, the focus must now be on new refining investments. This is especially urgent in...