Look Towards A New Future

Aug 8, 2012

Refining Industry to 2017 - Asia-Pacific, Middle East and Africa to Emerge as Key Regions for Infrastructure Investments for Capacity Additions

Refining Industry in Developing Regions Take Off.

While refineries across the US and Europe are forced to upgrade to meet increasingly stringent environmental norms, the future refining industries in the Middle East and Asia are set to explode, according to a new report by oil and gas experts GBI Research.

The new report* states that while the crude oil refining industry in developed countries is struggling to cope with slack demand for refined products, stringent environmental regulations and higher investment needs, expansions in developing countries are being driven by a huge demand for oil.

The refining capacity growth in the Asia-Pacific region will be driven by China, India, Indonesia and Malaysia. China and India in particular are expected to expand their refining capabilities to cater to their domestic demand, and intend to turn themselves into major regional refining hubs. Indonesia is instead rapidly expanding its refining capacity to target the export market. A total of around 198.1 MMtpa of additional capacities will be added through new refineries during 2012–2017.

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Report Details:
Published: July 2012
No. of Pages: 133
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The Middle Eastern region also represents a major producer and exporter of crude oil, and is now targeting the petroleum products export market. Countries in the Middle East are working on modernizing their existing refineries as well as implementing capacity expansions. Significant capacity additions are expected to come online during the next five years, with industry growth seen most prominently in Iran, Iraq and Saudi Arabia.

Newly planned refineries in the Middle East are targeting Western countries as their major export markets, and hold the capability to process heavy crude and produce quality products in accordance with the environmental regulations upheld in developed countries. Subsequently, the refining industry, in the US particularly, is due to face a new wave of competition. The recession-hit refining industry in the US has already witnessed declining margins due to idling and surplus capacity, and the refinery infrastructure improvements planned within the Middle East will lead to surplus capacity and a decline in the refining margins of North American refineries.

Global refining capacity is expected to grow at a steady rate, from 4,661.7 Million Metric Tons Per Annum (MMtpa) in 2011 to 5,516.9 MMtpa in 2017, at an Average Annual Growth Rate (AAGR) of 3.1%. Middle Eastern countries are expected to provide a capacity of 183.7 MMtpa by 2017.

*Refining Industry to 2017 - Asia-Pacific, Middle East and Africa to Emerge as Key Regions for Infrastructure Investments for Capacity Additions

This report provides detailed information and analysis on refining capacities by region and leading countries, upcoming refineries and capacity expansions, market shares of key companies and competitive scenarios in the global refining market to 2017. It also provides analysis on refinery throughputs and utilization rates, details of key upcoming refinery projects (2012-2017) and the competitive scenario in all five regions across the globe. The report additionally highlights global refining margin trends in the US Gulf Coast, north-western Europe and Singapore markets for the past three years.

The report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GBI Research’s team of industry experts.