WoodMac says 20% of refining capacity faces closure risk
In short
Wood Mackenzie said about 20% of global refining capacity faces weak or negative cash margins. The summary also said India may make up 40% of global capacity additions through 2030.
What the reporting says
Wood Mackenzie said about 20% of existing global refining capacity faces falling or negative operating cash margins, according to the report. The same summary says India is expected to account for 40% of global capacity additions through 2030.
Why it matters
Wood Mackenzie’s outlook, as summarized in the report, points to pressure on roughly 20% of existing refining capacity because of falling or negative operating cash margins. It also says India may account for 40% of global capacity additions through 2030.