GlobalData’s latest report, ‘Global Capacity and Capital Expenditure Outlook for Refineries, 2020−2024 – Asia Dominates Global Refinery CDU Capacity and Capex Outlook’ indicates that global crude distillation unit (CDU) capacity is expected to register a growth of 5.4% over the next four years, increasing from 104.3 million barrels per day (mmbd) in 2020 to 109.8mmbd by 2024.
Among regions, Asia is expected to have the highest CDU capacity with 37.5mmbd by 2024. North America and Europe follow next with 25mmbd and 14.1mmbd respectively.
Among countries, China, Nigeria, and Kuwait are the top three countries globally for planned, announced, and expansion CDU capacity growth by 2024. China is expected to add 1,921 thousand barrels per day (mbd) of CDU capacity, while Nigeria and Kuwait are expected to add 662mbd and 615mbd during the outlook period.
The Lagos I refinery in Nigeria and the Al-Zour refinery in Kuwait are the top two upcoming refineries globally in terms of CDU capacity, by 2024. The Lagos I refinery is expected to have a capacity of 650mbd, followed by Al-Zour with 615mbd. Jizan and Jieyang are joint third with capacity additions of 400mbd each.
