(EnergyAsia, August 31 2011, Wednesday) — Asia, the Middle East and Africa will account for more than 80% of the world’s planned oil refining capacity addition by 2016, said UK-based consulting group GlobalData.
In its study, “Planned Oil Refineries – Global Market Analysis, Competitive Landscape and Capacity Forecasts to 2016”, the company forecasts that the world will add 609.6 million tonnes or 13.2% to its current 4,614 million tonnes of refining capacity by 2016. The industry has announced plans to build 66 refineries in 37 countries over the five-year period to 2016.
“The Middle East and Africa will contribute 45.6% to the planned global oil refining capacity addition of 609.6 million tonnes by 2016, whereas Asia Pacific will contribute 34.5%. Together, these two regions will account for 80.1% of global planned oil refinery capacity by 2016,” said GlobalData.
Asia today has more than 1,437 million tonnes of refining capacity, according to the study.
“China will lead the (expansion) in … oil refinery capacity addition for the period 2011 to 2016,” said GlobalData which has forecast that Petrochina Company Ltd. and China Petroleum & Chemical Corporation will lead the nation’s 70-million tonne increase by 2016.
The study noted that China plans to construct six refineries over that period with two to start up in 2012, two in 2013 and one each in 2014 and 2015. All the planned refineries are complex refineries, four consisting of hydro-skimming units and two consisting of coking units.