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The European refining industry is undergoing a shake-out as new entrants see opportunities

FINANCIAL TIMES

By Sylvia Pfeifer: Oil processing: A refined model: October 14, 2013 7:04 pm

Screen Shot 2013-10-15 at 15.34.59EXTRACT: The former Shell refinery is no longer lossmaking. Its first full-year of operation as a profitable entity was in 2011. So what does Mr Klesch know that Shell, Europe’s biggest oil and gas company by market capitalisation, did not?

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