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Reuters: Shell sees appraching world refining oversupply

Mon Sep 10, 2007 7:24PM BST
HOUSTON, Sept 10 (Reuters) – Royal Dutch Shell Group Plc (RDSa.L: Quote, Profile, Research) expects an oversupply of global refining capacity in the near future based on announced refinery expansion projects, said Mark Williams, executive vice president of supply and distribution, on Monday.

“Our view is we’ll enter a period of oversupply,” Williams said to reporters at a Houston energy conference.

Refiners around the world have announced refinery expansion projects to be competed between 2009 and 2012.

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