Asia is expected to add a capacity of 0.40mtpa from one new-build planned MDI project.
Russia seems to be relatively successful in evading the full impact of the price cap.
North America’s renewable refinery production capacity is expected to reach 13,142 mmgy in 2027, the highest among all regions globally.
Asia is followed by Africa, which has 73 upcoming crude oil refinery projects.
China witnessed the highest capacity growth from 2017 to 2022 with an AAGR of 8.0%, followed by India with 1.8%.
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North America is expected to add a capacity of 26.39 mtpa by 2030, with 18 new build planned and announced projects.
Carbon emissions from the chemical industry can be broken down into direct energy demand and process emissions, both of which represent a challenge to decarbonisation.
Within Asia, India leads with the largest capacity additions of 3.24mtpa from its three planned projects.
The upstream sector reported 932 contracts during Q2 2023, followed by the downstream/petrochemical sector and midstream sector with 191 and 164 contracts, respectively.
Russia and Qatar follow, with capacities of 67.5mtpa and 48mtpa, respectively.