Malaysias Shell Refining explores options in face of weak margins

KUALA LUMPUR: Malaysia’s Shell Refining Company will explore options including the sale of its Port Dickson refinery or the conversion of operations to a storage terminal in the face of the poor outlook for refining margins, it said yesterday.

“The board has concluded that refining margins are expected to remain depressed due to overcapacity in the global refining industry,” it said in a filing with Bursa Malaysia, adding that it is exploring suitable long-term options.