Meanings of global refining in English

Ruehl said he expected global refining utilization rates to fall in 2010.

Shell plans to reduce about 15 percent of its global refining capacity.

Shell is looking to divest 15 percent of its global refining.

BP's average global refining margins continue to slip as product prices lagged rising crude prices.

The company's CEO Claudio Descalzi said the partnership would increase its global refining capacity by 35 percent.

The company expects little change in global refining market due to flat economic grown in next five years.

The company also said it is engaged with foreign partners in looking at opportunities to expand its global refining portfolio.

The North American oil supply revolution and the surge in non-OPEC demand are redrawing the global refining map, the IEA said.

The expansion of global refining capacity will outpace upstream supply growth as well as demand growth, bringing refining margins under pressure.

The IEA also predicted shifts in the global refining industry as countries such as India and Saudi Arabia build new refining capacity.

The recessionary economy, weak demand for refined products and increased global refining capacity have created margin pressure on the entire refining industry, the company said.

Indian refiners are cutting crude processing and shutting units for maintenance as local fuel demand falls and global refining margins are weak, company officials said.

He said that at least 1 million barrels per day (bpd), or about 1% of global refining capacity, would need to close.

Global refining utilization rates fell to a 15-year low of 81 percent, and unused capacity currently exceeds 17 million bpd due to run cuts.