By August 18, 2022 (Investorideas.com Newswire) Asia is expected to register the highest refinery hydrotreater capacity additions globally between 2022 and 2026, accounting for approximately 39% of the total capacity additions by 2026, says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Refinery Hydrotreater Units Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Units, 2022-2026’, reveals that Asia is likely to witness total hydrotreater unit capacity additions of 4,180 thousand barrels per day (mbd) by 2026. Of this, 2,548 mbd is likely to be added from new-build refineries while the remaining is expected to come from the expansion of existing refineries.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “Together, China and India will account for 74% of the hydrotreater unit capacity additions in Asia by 2026. The Vadinar refinery in India is the largest upcoming expansion project in Asia with 374 mbd of capacity expected to be added by 2024. Among the new-build refinery projects, the planned Yulong refinery in China is likely to add a capacity of 383 mbd in 2023.”
GlobalData identifies the Middle East as the second biggest contributor to the global hydrotreater unit capacity additions, accounting for 29% of the total additions by 2026. Iran is expected to account for the majority of the capacity additions in the region, with 962 mbd of capacity expected to be added from four new-build and an expansion project in the country by 2026.
Pappoppula adds: “Africa ranks third globally contributing to around 17% of global hydrotreater unit capacity additions. The planned Lagos I refinery in Nigeria is likely to be one of the biggest contributors in the region with 410 mbd of capacity expected to become operational by 2023.”
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Notes to Editors
Comments provided by Teja Pappoppula, Oil & Gas Analyst at GlobalData
Information based on GlobalData’s report: ‘Refinery Hydrotreater Units Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Units, 2022-2026’
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.
About GlobalData
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, financial, technology and professional services sectors.
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