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US oil refining outlook: closures, acquisitions & Delta's surprise deal

Featuring John Kingston and Jeff Mower

May 16, 2012 15:30:00 EST (11:50 mins)

Following months of poor refining margins along the Atlantic Basin, which forced the closure of several plants, some refiners have been making a comeback in recent weeks. First, The Carlyle Group announced that it was in talks to create a joint venture with Sunoco to take over the company's Philadelphia refinery. Soon after that, Delta Airlines confirmed weeks of speculation by buying ConocoPhillips' idled plant in Trainer, Pennsylvania. John Kingston and Jeff Mower discuss what drove refining margins so low to begin with, and what it might take for refiners fortunes to improve in the month's ahead.

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