Standard Chartered Added Oil Refiner Debt Before Margin Rout

  • Bank increased refinery debt 24% to $7.3 billion in 2016
  • Refineries facing pressure on margins as gasoline prices fall
Photographer: Simon Dawson/Bloomberg

Standard Chartered Plc, the U.K. lender reeling from billions of dollars of losses on soured energy loans, has increased lending to oil refineries just as companies across that industry face a slump in profit.

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