Kuwait Petroleum Corp is expected to lead new-build crude distillation unit (CDU) capacity additions in the global refinery industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 5% to global CDU capacity growth by 2023, according to GlobalData, a leading data and analytics company.
The company’s report, ‘H2 2019 Global Capacity and Capital Expenditure Outlook for Refineries – Nigeria Leads Global Refinery CDU Capacity Additions’, reveals that Kuwait Petroleum Corp will have new-build refinery CDU capacity of 830 thousand barrels per day (mbd) by 2023 from planned and approved projects.
Dipayan Chakraborty, oil and gas analyst at GlobalData, commented, “Kuwait Petroleum Corp is expected to add three new-build refineries during the outlook period. Among these, Al-Zour in Kuwait is the largest refinery and is expected to start operations in 2020. The CDU capacity of this cracking-type refinery will be 615 mbd.”
Dangote Industries Ltd will be the second-highest company in terms of new-build CDU capacity additions with 650 mbd by 2023. The Lagos I refinery in Nigeria is the only planned refinery in the company’s portfolio.
Chakraborty concludes: “China Petrochemical Corp stands third with a new-build CDU capacity growth of 580 mbd by 2023. The Manila refinery in the Philippines, which is expected to commence operation in 2023, is the largest upcoming refinery in the company’s portfolio with a new-build CDU capacity of 400 mbd.”