Chibisi Ohakah
With a contribution of around 13% of global crude distillation unit (CDU) capacity growth by 2023, Nigeria is expected to drive new-build CDU capacity growth in the global refinery industry from planned and announced (new-build) projects during the outlook period 2019 to 2023, GlobalData, a leading data and analytics company, has said in a report
In the report released early this week titled, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for Refineries – Nigeria Leads Global Refinery CDU Capacity Additions’, GlobalData revealed that Nigeria is expected to have a new-build refinery CDU capacity of 1,935 thousand barrels per day (mbd) by 2023.
According to the report, Nigeria’s planned projects with identifiable development plans account for 58% of the new-build capacity (1,118mbd), while the remaining 817mbd is expected to come from early-stage announced projects.
Dipayan Chakraborty, oil and gas analyst at GlobalData, says: “Nigeria is expected to add 32 new-build refineries from 2019 to 2023. Among these, Lagos I is the largest new-build refinery, which is expected to start operations in 2020 with a capacity of 650mbd.”
Following Nigeria, GlobalData identifies China as the second highest country in terms of global refinery CDU capacity growth, adding a new-build CDU capacity of 1,621mbd by 2023. The Jieyang refinery in Guangdong is the largest upcoming refinery in China with new-build CDU capacity of 400mbd by 2023.
Chakraborty concludes: “Iraq stands third with new-build CDU capacity growth of 1,200mbd by 2023. The Basra II refinery is the largest upcoming refinery in Iraq with new-build CDU capacity of 300mbd by 2023.”
The rest are Pakistan, Malaysia, Kuwait, Angola, Canada, Brunei and the Philippines
GlobalData has a proven track record in helping thousands of companies, government organizations, and industry professionals profit from faster, more informed decisions. The organization’s unique data-driven, human-led and technology-powered approach creates the trusted, actionable, and forward-looking intelligence companies and countries need to predict the future and avoid blind-spots. Leveraging their unique data, expert analysis, and innovative solutions, the organisation provides access to unrivalled capabilities through its platform.
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