GlobalData’s latest report, ‘Global Refinery New-Build and Expansion Projects Outlook to 2026’, indicates a total of 460 upcoming crude oil refinery projects are expected to start operations from 2022 to 2026. Of these, 118 represent newbuild projects and 342 are expansions of existing projects.
Globally, about 215 upcoming refinery projects are in the construction stage and are likely to start operations from 2022 to 2026. Feasibility and approval are the other major project stages with 108 and 97 projects, respectively.
Asia is one of the major regions with the highest number of refinery projects (184) by 2026. Among countries, India leads with the highest number of projects (86) during the outlook period, followed by China with 44 projects.
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