Asia to spearhead global refinery hydrocracking capacity additions by 2025
GlobalData, a leader in data and analytics, predicts that Asia will see the largest refinery hydrocracking capacity expansions between 2021-2025. It is estimated that Asia will contribute about 56% to the global total capacity additions through 2025.
Global Data's report 'Global Refinery Hydrocracking Units outlook to 2025-Capacity and CapitalExpiture Outlook with Details on All Operating and Planned Hydrocracking Units’ indicates that Asia is expected to see an increase of 1,872 000 barrels per hour (mbd), in hydrocracking units capacity by 2025. This 809 mbd would come from new-build refineries and the rest from expansions to existing refineries.
Global Data Oil and Gas Analyst Teja Papappula comments that India and China will together account for 80% of Asia's hydrocracking unit capacity expansions by 2025. India's Vadinar refinery will be the biggest upcoming expansion project, adding 170 mbd in capacity in 2024. China's Jieyang refinery will be the largest new-build project. It is expected to increase its capacity by 165 mbd by 2022.
GlobalData identified the Former Soviet Union, accounting for around 16% of global hydrocracking capacity additions. With 80 mbd of potential capacity, Russia's Tuapse refinery is one of the largest contributors to the region. It will be operational in 2021.
Africa comes in third place globally, accounting for approximately 14% of the global hydrocracking unit capacities additions over the forecast period 2021-2025. Nigeria accounts for the majority of regional capacity additions. 240mbd of this capacity will be added to the region by three new construction projects.