Covid-19 and a pessimistic economic outlook will have a near-term impact on oil demand and the refining sector in Asia Pacific. But in the long-run, demand continues to be robust driven by a future demand for mobility and petrochemicals.
Transcend Solutions has announced the completion of its most recent round of capital expansion.
The gradual appreciation of refinery utilisation is likely to enable refining companies to remain focused on key growth projects that would ensure long-term competitiveness to deliver strong future growth, according to GlobalData.