Asia to lead global refinery hydrocracking capacity additions by 2027


Lagos — Asia is expected to witness the highest refinery hydrocracking unit capacity additions globally between 2023 and 2027, contributing about 55% of the total global capacity additions by 2027, says GlobalData, a leading data, and analytics company.

GlobalData’s latest report, “Refinery Hydrocracking Units Capacity And Capital Expenditure (CapEx) Forecast By Region And Countries With Details Of All Operating And Planned Hydrocracking Units To 2027”, reveals that Asia is expected to see a total hydrocracking unit capacity addition of 2,474 thousand barrels per day (mbd) during 2023–27. Of this, 1,457 mbd of hydrocracking capacity is likely to be added from new-build refineries, while the rest is from the expansion of existing refineries.

Himani Pant Pandey, Oil & Gas Analyst at GlobalData, comments: “China leads hydrocracking unit capacity additions in Asia, accounting for around 34% of the total capacity additions in the region by 2027. Growing demand for high-quality transportation fuels such as petrol, diesel, and jet fuel is primarily driving hydrocracking unit capacity additions in the country.”

India, Pakistan, Indonesia, and Thailand are the other major countries in Asia in terms of hydrocracking capacity additions. The three countries are collectively expected to account for 45% of the total capacity additions in the region by 2027. Like China, fuels used in the transportation sector are primarily driving capacity additions in these countries.

GlobalData reveals that the Middle East is another significant contributor to the global hydrocracking unit capacity additions, accounting for 16% of the total additions by 2027. Iraq accounts for the majority of the capacity additions in the region, with 230 mbd of capacity expected to be added by 2027. Oman and Bahrain follow with 146 mbd and 139 mbd, respectively.

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Africa follows the Middle East, accounting for 14% of the global hydrocracking unit capacity additions by 2027. Nigeria leads the capacity additions in the region (204 mbd), followed by Egypt (154 mbd) and Algeria (107 mbd).



This article was originally posted at sweetcrudereports.com

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