01 Jul 2020
Posted in Oil & Gas
China dominates Asia’s refinery CDU capacity additions by 2024, says GlobalData
China is expected to dominate Asia’s refinery crude distillation unit (CDU) capacity additions, contributing about 80% of the regions’ total CDU capacity additions between 2020 and 2024, says GlobalData, a leading data and analytics company.
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 China is expected to develop new-build refineries with a total CDU capacity of 1,420 thousand barrels per day (mbd) by 2024, while expansion projects account for the rest.
Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, comments: “In China, four new-build CDU refineries are likely to start operations by 2024, of which three are planned with identified development plans and the remaining Panjin II is the only early-stage announced refinery. Both Yulong and Jieyang are the largest upcoming CDU refineries with a capacity of 400 mbd each.”
GlobalData expects India to be the second-highest contributor to the Asia’s refinery CDU capacity additions by 2024 with a total refining capacity of 180 mbd by 2024. The Barauni and Numaligarh refineries account for the entire capacity additions in the country.
Thailand and Pakistan are expected to add a total of 125 mbd and 100 mbd of refinery CDU capacity by 2024, respectively. While Thailand has no upcoming projects during the outlook period, Pakistan has three upcoming projects – Khyber-Pakhtunkhwa I, Khyber-Pakhtunkhwa II and Kohat.