Kuwait Petroleum Corp is expected to lead new-build crude distillation unit (CDU) capacity additions in the global refinery industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 5% to global CDU capacity growth by 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for Refineries – Nigeria Leads Global Refinery CDU Capacity Additions’, reveals that Kuwait Petroleum Corp will have new-build refinery CDU capacity of 830 thousand barrels per day (mbd) by 2023 from planned and approved projects.
Dipayan Chakraborty, Oil and Gas Analyst at GlobalData, comments: “Kuwait Petroleum Corp is expected to add three new-build refineries during the outlook period. Among these, Al-Zour in Kuwait is the largest refinery and is expected to start operations in 2020. The CDU capacity of this cracking-type refinery will be 615 mbd.”
Dangote Industries Ltd will be the second-highest company in terms of new-build CDU capacity additions with 650 mbd by 2023. The Lagos I refinery in Nigeria is the only planned refinery in the company’s portfolio.
Chakraborty concludes: “China Petrochemical Corp stands third with a new-build CDU capacity growth of 580 mbd by 2023. The Manila refinery in the Philippines, which is expected to commence operation in 2023, is the largest upcoming refinery in the company’s portfolio with a new-build CDU capacity of 400 mbd.”
- Comments provided by Dipayan, Oil and Gas Analyst at GlobalData
- Information based on GlobalData’s report: ‘H2 2019 Global Capacity and Capital Expenditure Outlook for Refineries – Nigeria Leads Global Refinery CDU Capacity Additions’
- Announced/Planned: Denotes only new-build assets that are in different stages of development and have not started commercial operations
- A new-build project that has not received relevant/ required approvals to develop/build the project is considered as Announced
- A new-build project that has received relevant/ required approvals is considered as Planned
- This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, technology, energy, financial and professional services sectors. PR6771