Asia leads in terms of global refinery crude distillation unit (CDU) capacity additions by contributing about 42% of the total global CDU capacity from new-build projects (planned and announced projects) during the period 2020 – 2024, reports GlobalData.
The company’s report, ‘Global Refinery Crude Distillation Units (CDU) Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Crude Distillation Units’, reveals that Asia is expected to add 5.1 million bpd of planned and announced refinery CDU capacity by 2024. Out of this, 2.6 million bpd comes from the planned projects with identified development plans, while the rest of 2.5 million bpd is from the early-stage announced projects that are undergoing conceptual studies and are expected to get approval for development.
Adithya Rekha, Oil and Gas Analyst at GlobalData, comments: “During the outlook period 2020 – 2024, about 47 planned and announced refineries are expected to start operations in Asia. Among these, the Hambantota III refinery in Sri Lanka and Jieyang and Lianyungang II refineries in China are some of the largest upcoming refineries in terms of CDU capacities with 420 000 bpd, 400 000 bpd and 320 000 bpd respectively by 2024.”
GlobalData expects that Africa and the Middle East together occupy the second position in terms of regions with largest upcoming refinery CDU capacity additions with 2.8 million bpd each by 2024. Within Africa, Nigeria has the highest planned and announced refinery CDU capacity of about 1.6 million bpd by 2024. In the Middle East, Iraq will be leading with 730 thousand barrels per day (000 bpd) of planned and announced refinery CDU capacity by 2024.
North America will be the third largest among the regions with new-build CDU capacity of 893 000 bpd by 2024. The US and Mexico are expected to be the largest contributors of the region’s planned and announced CDU capacity by 2024. Both the countries are expected to add a new-build CDU capacity of 400 000 bpd each in 2024. The Dos Bocas refinery in Mexico is the largest upcoming refinery in the region with a CDU capacity of 340 000 bpd.
Read the article online at: https://www.hydrocarbonengineering.com/refining/19022020/asia-to-drive-global-crude-distillation-unit-capacity-growth/