Royal Dutch Shell has pulled out of a proposed $9bn (£5.5bn) refinery project in China, in a sign of the difficulties faced by western oil companies seeking to profit from the country's rapidly rising demand for energy.
Shell's decision could create an opportunity for BP, which has talked about its ambitions for expansion in China.
However, analysts warned that the poor profitability of China's refining industry meant that any investment in the sector might prove unattractive.
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