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Article: Majors tread diverse paths in US downstream.(oil companies, United States downstream)(Brief Article)(Statistical Data Included)
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- April 15, 2002
CopyrightCOPYRIGHT 2002 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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At a time when US refining and marketing margins are beginning to rebound from record lows for the past decade, major oil companies are in the midst of implementing vastly different downstream strategies. Supermajors Exxon Mobil and BP appear to be lightening their exposure to the US' ultra-competitive downstream sector, while Royal Dutch/Shell and Phillips seem committed to building or, at least, maintaining their positions. Over the past two years, BP has sold four US refineries -- at Wood River, Illinois; Yorktown, Virginia; Mandan, North Dakota: and Salt Lake City, Utah (PIW Jul.23,p6). These sales are in line with a BP plan, announced in mid-1999, to limit its ...
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