Kuwait to lead the Middle Eastern refinery capacity growth by 2024, says GlobalData

  • Date: 08-Nov-2020
  • Source: Arabian Industry
  • Sector:Oil & Gas
  • Country:Kuwait
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Kuwait to lead the Middle Eastern refinery capacity growth by 2024, says GlobalData

Supported by its Al-Zour project, Kuwait is expected to lead the refinery capacity growth in the Middle East by 2024, with the anticipated addition of 615 thousand barrels per day (mbd) contributing to around 31% of the region's total growth. This is expected to be closely followed by Saudi Arabia, with contributions of 24%, says GlobalData, a leading data and analytics company.GlobalData's report, ‘Refining Industry Outlook in Middle East to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries', reveals that refining capacity in the Middle East is expected to increase by around 17% from 11.6 million barrels per day (mmbd) in 2020 to 13.6mmbd by 2024. Of the total capacity additions in the region, 1.5mmbd