Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
The International Energy Agency (IEA) says that Middle Eastern refiners will add 2.3mn b/d of distillation capacity by the end of 2021, the largest increase of any region globally. In its latest Medium-Term Oil Market Report (MTOMR), the IEA estimates global capacity will rise by 7.7mn b/d, with nearly 30% of the increase slated from the region.
This will take total Middle Eastern processing capacity to 11.6mn b/d by the end of 2021, raising the region’s contribution to global capacity from 9.6% to 11.1%. This “is well above projected demand growth and will thus result in reduced product imports and increased exports from the region.”
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE