Middle East set to eclipse Asia in refining capacity growth

10/31/2011
The Middle East appears set to dominate the expansion of global refining capacity in the latter half of this decade, eclipsing Asia as projects there come on stream. Prominent oil producers need new refining capacity as their demand for oil products grows, notes Soozhana Choi of Deutsche Bank AG in an Oct. 21 report. According to Choi, nearly 5 million b/d of refining capacity will be built in the Middle East during 2010-18, representing more than 20% of global expansion during the period and boosting regional capacity by nearly 60%. Saudi Arabia and Iran each plan to raise refining capacity by 1.2 million b/d through 2018. Other major expansions are nearly 900,000 b/d in Kuwait and 620,0...
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