MALAYSIAN UPGRADE DELAYED

Shell Refining Co. (FOM) Bhd. has deferred the second stage of a refinery upgrading project in Malaysia because of rising construction costs. Shell said the cost of a hydrocracker and associated equipment at its Port Dickson refinery has risen to 1.4 billion ringgits ($509 million) from an initial estimate of 800 million ringgits ($291 million). The sharply higher figure results mainly from a jump in world refinery construction costs in expectation of major orders, particularly from the Middle

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