Fewer capacity-addition plans will boost Asia refining margins.

The article reports on the benefit of fewer capacity-addition plans in 2002 for Asia oil refining margins. Refining capacity reportedly increased to nearly 35% and most of these additions were in China, India, and Taiwan. Indications of any recovery in refining margins are cited, including improved demand growth in the short to medium term. Information on Asia refining margins based on cracking yield in the fourth quarter of 2002 is also provided.