New U.S. oil refineries unlikely - Exxon

HOUSTON, Feb 15, Reuters - Oil companies are unlikely to build new refineries in the United States despite sky-high profits and the perception of a fuel capacity crunch, the head of Exxon Mobil Corp.'s refining and marketing operations said on Tuesday.

Refining profits will be on a downward trend long-term, meaning any growth in refining output is likely to come from expansion projects, not new plants, Edward Galante, senior vice president and head of downstream operations at ...