MENA Leads OPEC Refining Hike As First Mega-Refinery Comes Onstream

OPEC’s MENA members expanded their crude distillation unit (CDU) capacity by 6.8% to 7.863mn b/d last year (see table, p9). This compares with a total OPEC refining capacity expansion of 4.9%, which increased OPEC’s share of global capacity to 11.0% from 10.5%, according to the organization’s newly released Annual Statistical Bulletin 2014.

The data includes the first of the Gulf mega-refineries to be completed: the 400,000 b/d Satorp joint venture of Saudi Aramco and France’s Total. The similar-sized Aramco/Sinopec Yasref refinery and Aramco Jazan refinery are due onstream in 2014 and 2017, respectively. While the data includes Satorp’s full capacity, only one of two 200,000 b/d CDUs is fully operational and the second is being ramped up. (CONTINUED - 585 WORDS)

DATA INSIDE THIS ARTICLE

table Gulf Refinery/Expansion Projects Schedule
table MENA OPEC Members’ Refining Capacity And Output (‘000 B/D)