New refineries to overrun inefficient plants by 2024
21 Mar 2019
Energy
An increase in the number of new refining capacity, expected to extend till the end of 2024, signifies major competition ahead for the oil industry, with possible shutdowns, the International Energy Agency (IEA), said in its Oil 2019 Report. The IEA noted specifically that such a capacity expansion will require shutdowns to balance, estimating that…