Saudi Leads Capacity Expansion But Mideast Runs Slide-BP

Middle East refiners raised their combined crude distillation capacity by 567,000 b/d or 6.9% in 2013 to 8.822mn b/d, according to the BP Statistical Review 2014. The largest increment, of 400,000 b/d, was in Saudi Arabia, taking the kingdom’s total throughput capacity to 2.522mn b/d. However, Middle East refinery throughputs fell last year by 0.5% to 6.353mn b/d, the report says.

Launching the review in Moscow, BP chief economist Christof Rühl said: “Global refining capacity grew by 1.4mn b/d last year, the highest net capacity addition since 2009. Capacity growth was led by China (660,000 b/d) with the Middle East not far behind. Global crude runs, in contrast, grew by only 400,000 b/d and as a result, global spare capacity is now almost 7mn b/d more than it was in 2005.” Average runs at Middle East refineries fell to only 72% last year (see table and graph). (CONTINUED - 540 WORDS)

DATA INSIDE THIS ARTICLE

table Middle East Refining Capacity (‘000 B/D)