Energy consultancy Wood Mackenzie said in a recent report that more than 20 per cent of global refining capacity would be at risk of closure, as refining margins would fall in line with falling demand and carbon taxes could also place a heavy burden on refiners.Wood Mackenzie analysis shows that the

The Financial Times reported on March 23 that the surge in oil prices following the outbreak of the conflict between Russia and Ukraine has helped oil producers around the world make record profits over the past two years. Oil giants ExxonMobil, Shell, Saudi Aramco and others said at the annual CERA