09 Jul 2021
Posted in Oil & Gas
Asia to spearhead global refinery hydrocracking capacity additions by 2025, says GlobalData
Asia is expected to register the highest refinery hydrocracking capacity additions globally between 2021 and 2025, contributing about 56% of the total capacity additions by 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Refinery Hydrocracking Units Outlook to 2025 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Hydrocracking Units’, reveals that Asia is likely to witness a total hydrocracking unit capacity additions of 1,872 thousand barrels per day (mbd) by 2025. Of this, 809 mbd of capacity would be from new-build refineries while the rest of the capacity is from expansion of the existing refineries.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “Together, China and India account for 80% of the hydrocracking unit capacity additions in Asia by 2025. The Vadinar refinery in India is the largest upcoming expansion project in Asia with 170 mbd of capacity expected to be added in 2024. Among the new-build refinery projects, the planned Jieyang refinery in China is likely to add a capacity of 165 mbd in 2022.”
GlobalData identifies Former Soviet Union as the second highest contributor to the global hydrocracking unit capacity additions accounting for about 16% of the total additions by 2025. The planned Tuapse refinery in Russia is one of the highest contributors in the region with 80 mbd of capacity expected to become operational in 2021.
Africa ranks third globally contributing about 14% of global hydrocracking unit capacity additions during the outlook period 2021–2025. Nigeria accounts for majority of the capacity additions in the region, with 240 mbd of capacity is expected to be added by 2025 from three new build projects.