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Globally refiners continue to face several challenges as environmental policies are becoming increasingly stringent. The profitability of refiner’s is influenced because of strict regulations on sulphur content of gasoline & diesel oil and curbs on refinery emissions. Agencies such as the International Maritime Organizationhas already proposed changes in specifications of bunker fuel oil. These regulations will drastically impact the refinery’s profitability which would then have a tough time increasing or maintaining current refining margins.