Asia is expected to have the highest crude distillation unit (CDU) capacity additions, contributing about 42% of the global CDU capacity additions by 2024, says GlobalData.
The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Refineries, 2020−2024 – Asia Dominates Global Refinery CDU Capacity and Capex Outlook’, reveals that Asia is likely to witness a total CDU capacity of 2.7 million bpd by 2024. Out of which, the capacity of planned projects that have received necessary approvals for development account for nearly 1.3 million bpd.
Soorya Tejomoortula, Oil and Gas Analyst at Globaldata, comments: “Asia is expected to witness the start of operations of 11 new-build CDU refineries by 2024. Of these, eight are planned and the remaining three are announced refineries. China’s Yulong and Jieyang are the largest upcoming CDU refineries in the region, each with a capacity of 400 000 bpd by 2024.”
GlobalData identifies Middle East as the second highest contributor to the global CDU capacity additions contributing around 23% by 20204. All the six upcoming projects in the region are planned projects. Al-Zour in Kuwait is the largest upcoming CDU refinery in the region with a capacity of 615 000 bpd by 2024. Jizan in Saudi Arabia is the second largest upcoming CDU refinery with a capacity of 400 000 bpd.
Africa ranks third across the globe contributing about 18% of world’s CDU capacity additions during the outlook period 2020–2024. The region has 12 upcoming projects, of which nine are planned and three are announced. Lagos I is the largest upcoming CDU refinery in the region with a capacity of 650 000 bpd by 2024.
Read the article online at: https://www.hydrocarbonengineering.com/refining/02072020/asia-to-lead-global-refinery-cdu-capacity-additions/
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