New refinery project announcements gain momentum

GlobalData’s latest report, H1 2017 Global Capacity and Capital Expenditure Outlook for Refineries – New Project Announcements Gain Momentum, suggests that the global refinery industry is expected to witness a growth of around 16 percent during the 2017–2021 period. The total crude distillation unit (CDU) capacity in 2021 is expected to increase globally to more than 100 million barrels per day (mmbd) through around 880 refineries.

Among regions, Asia is expected to lead the growth in the industry with proposed capital spending of more than $150bn outlined for more than 40 planned (new-build) refineries. The total capacity addition in the region is expected to be more than 5,000 thousand barrels per day (mbd). 

GlobalData’s downstream research identifies Nakhodka in Russia, Pengerang and Yan in Malaysia, to be the top refineries in the world in terms of capital spending in the outlook period. Merapoh in Malaysia, Al-Zour in Kuwait, and Lagos I in Nigeria, are expected to be the top three planned refineries globally in terms of capacity in the same time period.

More than 30 percent of the world’s planned CDU capacity is expected to come up in Malaysia, Nigeria and China. The top countries to spend on planned refineries are Nigeria, India and Malaysia.

The report explores planned upcoming projects and stalled projects in detail and highlights the fact that project announcements are on the rise.

About this report

H1 2017 Global Capacity and Capital Expenditure Outlook for Refineries
Here is the latest analytical report from GlobalData Oil & Gas, which gives an outlook of refining capacity and capital expenditure focusing on key countries and operators, as well as on the global level. The report analyzes refinery crude distillation unit capacity data by major regions in the world for the 2011 to 2021 period. It also provides global planned (new build) refinery capacity additions and capital expenditure spending by key countries and operators. Key details of all planned (new build) refineries in the world up to 2021 are also provided.