Nigeria is expected to drive new-build crude distillation unit (CDU) capacity growth in the global refinery industry from planned and announced (new-build) projects during the outlook period 2019 to 2023, contributing around 13% of global CDU capacity growth by 2023, according to GlobalData.
The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for Refineries – Nigeria Leads Global Refinery CDU Capacity Additions’, reveals that Nigeria is expected to have a new-build refinery CDU capacity of 1.935 million bpd by 2023. Planned projects with identifiable development plans account for 58% of the new-build capacity (1.118 million bpd), while the remaining 817 000 bpd is expected to come from early-stage announced projects.
Dipayan Chakraborty, Oil and Gas Analyst at GlobalData, says: “Nigeria is expected to add 32 new-build refineries during 2019 to 2023. Among these, Lagos I is the largest new-build refinery, which is expected to start operations in 2020 with a capacity of 650 000 bpd.”
Following Nigeria, GlobalData identifies China as the second highest country in terms of global refinery CDU capacity growth, adding a new-build CDU capacity of 1.621 million bpd by 2023. The Jieyang refinery in Guangdong is the largest upcoming refinery in China with new-build CDU capacity of 400 000 bpd by 2023.
Chakraborty concludes: “Iraq stands third with new-build CDU capacity growth of 1.2 million bpd by 2023. The Basra II refinery is the largest upcoming refinery in Iraq with new-build CDU capacity of 300 000 bpd by 2023.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/28082019/nigeria-to-lead-global-crude-distillation-unit-capacity-growth-by-2023/