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Gulf states are increasingly focused on maximizing revenue from each barrel of oil produced as NOCs build up their trading and marketing capabilities ( MEES, 24 May ) and expand their downstream footprints.
Crude processing capacity in the Gulf currently stands at 7.37mn b/d and a swathe of projects are designed to boost this by 37% to more than 10mn b/d by the end of 2025.
This year’s key project is the 400,000 b/d Jazan refinery in southwest Saudi Arabia which will lift the kingdom’s refining capacity to 3.3mn b/d. The refinery was originally due online in 2017 ( MEES, 28 February 2014 ) and its planned late-2019 start up may yet slip into 2020 ( MEES, 22 February ). However, the project looks more likely to come online this year with Iraq’s planned repair of the 70,000 b/d Salahuddin-1 unit at the Baiji refinery. (CONTINUED - 946 WORDS)
DATA INSIDE THIS ARTICLE
|table||Gulf CDU Additions To 2025 ('000b/D)|