Gulf Refiners Aim For 10% Capacity Hike In 2019

2019 will see key boost to Gulf refining capacity after a quiet 2018.

Gulf refining capacity rose 2% to 8.45mn b/d during 2018 with 150,000 b/d of gains coming from the start-up of the second 120,000 b/d unit at Iran’s Persian Gulf Star condensate splitter and repairs to Iraq’s war-ravaged fleet ( MEES, 19 October ).

This will likely see the region’s refiners process record volumes of crude oil and condensate. Throughputs for the first 10 months of 2018 were 7.26mn b/d, a modest increase on 2017’s record high of 7.24mn b/d (see charts).

But regional capacity ought to soar beyond 9mn b/d in 2019. A new refinery in Saudi Arabia alongside new units and further repairs in Iran, Iraq and Dubai, as well as the completion of Kuwait’s clean fuels project (CFP) could add as much as 725,000 b/d. (CONTINUED - 899 WORDS)

DATA INSIDE THIS ARTICLE

chart Gulf Refinery Intake* (Mn B/D)
chart Gulf Refining Capacity End-2018 (Mn B/D)