Special Worldwide Report: Worldwide refining capacity climbs to highest level ever

The worldwide refining industry added a significant amount of capacity in 2002, despite the fact that the total number of refineries decreased by 10.This capacity increase reverses a downward trend during the past 2 years. Refinery capacity in 2002 is at its highest level ever.Last year's refining report showed a worldwide capacity of 81.2 million b/cd as of Jan. 1, 2002. This year, OGJ's survey reflects a total capacity of 81.9 million b/cd, or an increase of 712,000 b/cd.Capacity creep and expansions in existing refineries, along with the inclusion of a new refinery, fueled the increase in refinery capacity. Relatively few shutdowns and removals occurred in this year's surve...

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