20 Feb 2020
Posted in Oil & Gas
China to lead Asian refinery crude distillation unit capacity additions through 2024, says GlobalData
China is expected to lead Asian refinery crude distillation units (CDUs) capacity additions by 2024, accounting for about 46% of the total capacity additions from planned and announced (new-build) projects, says GlobalData, a leading data and analytics company.
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 China is expected to add 2.3 million barrels per day (mmbd) of planned and announced CDU capacity by 2024. Out of this, 1.4 mmbd comes from the planned projects, while the rest 0.9 mmbd is from early-stage announced projects.
Adithya Rekha, Oil and Gas Analyst at GlobalData, comments: “In China, Jieyang refinery is expected to have the highest CDU capacity additions of 400 thousand barrels per day (mbd). This planned refinery is expected to start operations in 2021. Gulei, Lianyungang II, and Tianjin II refineries are the other major upcoming refineries with CDU capacity additions of 320 mbd each in 2024.”
GlobalData expects Sri Lanka to be the second largest country in Asia in terms of new-build refinery CDU capacity additions by 2024. The country is expected to add 620 mbd of CDU capacity by 2024. Out of this, 200 mbd of CDU capacity is expected to come from the planned Hambantota I refinery, while the Hambantota III, an announced refinery, would add the remaining 420 mbd by 2024.
Pakistan will be the third largest among the countries in Asia with planned and announced refinery CDU capacity of 535 mbd by 2024. The Khalifa refinery is the largest upcoming refinery in Pakistan with an expected CDU capacity of 250 mbd. The refinery is likely to commence operations in 2023.