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Asia-Pacific plant closures could offset new supply streams Refinery closures in Asia-Pacific are likely to offset a wave of new supply streams into the region. The pandemic accelerated a wave of refinery closures, with several regional refiners forced to close or review operations due to poor refining margins. BP’s plans to shut Australia’s largest refinery in Kwinana and Pilipinas Shell Petroleum Corp’s plans to shutter its Tabangao-based refinery in the Philippines, with several other potential closures on the horizon. According to market sources, this will help offset a wave of new supply streams, especially of gasoil, entering the market, sources said. ....