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BP’s Whiting Settlement Might Fence Off Rivals

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    4 drums coker

    BMI View: The settlement reached by BP, the US DoJ and EPA for the US$3.8bn modernisation of the Whiting refinery will allow the plant to process cheap Canadian tar sands crudes and boost its high-margin fuels output. The stringent environmental conditions are, in our view, a blessing in disguise for the firm as they set high barriers to entry for BP’s rivals.

    Paul Orlowski

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