Abstract: Abstract:After the financial crisis, refining margins dive as recession kicks in. As the majors can't see the hope that the refining margins can recover in short time, they suffer from the 'downstream depression', and start downstream asset disposals. Crisis in the western world may bring new opportunities for the booming eastern countries.

Key words: financial crisis, Occident, refining industry, acquisitions

摘要： 后金融危机时代,经济衰退使炼油业遭受重创。面对难以短期恢复的炼制毛利,大型石油公司纷纷患上了"下游抑郁症",一时间出售下游资产之风盛行。西方的危机也许给发展中的东方带来了新的机遇。

关键词: 金融危机, 西方, 炼油企业, 收购