Foreign
AFRICA and Asia are set to drive the global refinery vacuum distillation unit (VDU) capacity additions globally during 2022-2026, contributing around 61% of the total capacity additions, forecasts GlobalData, a leading data, and analytics company.
GlobalData’s latest report, ‘Refinery Vacuum Distillation Units (VDU) Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Units, 2021-2026’, reveals that Africa is likely to witness total VDU capacity additions of 1,327 thousand barrels per day, mbd, through 2026, accounting for 31% of the total global capacity additions. Out of this, 1,307 mbd will be from new build refineries and the remaining capacity will be from the expansion of existing refineries.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “Nigeria will lead the new build VDU capacity additions in Africa through 2026, accounting for around 44% of the total capacity additions. The planned Lagos I refinery will account for most of the capacity additions in the country. Around 312 mbd capacity is expected to be added to the refinery by 2023. The Mostorod II refinery in Egypt is the only upcoming expansion project in Africa, with 19 mbd of capacity expected to be added in 2024.”
GlobalData identified Asia as the second-highest contributor to the global VDU capacity additions, accounting for roughly 30% of the total additions through 2026. The announced Larkana refinery in Pakistan is one of the highest contributors in the region, with 192 mbd of capacity expected to become operational in 2025.
The Middle East will be the third-highest contributor, accounting for 27% of the global VDU capacity additions during the outlook period. Iran will account for most of the capacity additions in the region, with 516 mbd of capacity expected to be added by 2026 from three new build and an expansion projects.
A.I
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