Capital constraints likely mean most of the more than 60 refinery projects planned for the Asia Pacific region won't proceed. That's the consensus among international oil companies and energy consultants that attended a conference on Asian refining in Chiang Mai, Thailand. Capital requirements for the Asia-Pacific refining projects are estimated at $50 billion, said Bert Lotgering, managing director of Rayong Refinery Co. (RRC), a joint venture of Royal Dutch/Shell Group and Petroleum Authority of Thailand (PTT) that is building a $2.4 billion, 145,000 b/d grassroots refinery at Rayong, Thailand. Projects covered in the ...

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