Refining glut shows little sign of ending, says Shell

02/6/2012 | Reuters · Bloomberg

The refining industry still has 6 million barrels per day of excess production capability, and that glut could increase, says Simon Henry, Royal Dutch Shell's chief financial officer. Europe will likely see refinery closings, Shell officials said. Meanwhile, Sunoco CEO Lynn Elsenhans is leaving her post after overseeing the shuttering or sale of the company's five U.S. refineries.

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Reuters · Bloomberg

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