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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

Green Car Congress

AUGUST 3, 2022

In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 The new refinery projects would increase production of refined products, such as gasoline and diesel, and in turn, they might reduce the current high prices for these products. million b/d in 2023.

Asia 418
Asia Saudi Arabia Kuwait Oman 418
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

JULY 21, 2022

The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. The refinery’s return is likely to decrease petroleum product prices and increase supply, particularly in south and southeast Asian markets.

Global 448
Global China Kuwait Oman 448
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