Oil & Gas
ASIA is expected to be the major contributor to the growth of the global refinery fluid catalytic cracking units, FCCU, industry between 2019 and 2023, according to GlobalData, a leading data and analytics company.
The company’s report: ‘Global Refinery Fluid Catalytic Cracking Units, FCCU, Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Fluid Catalytic Cracking Units’ states that around 5,126 thousand barrels of oil per day, mbd, of refinery FCCU capacity will be added globally by 2023, coming from new-build and expansion projects, taking the total global refinery FCCU capacity to 25,762 mbd in 2023.
Asia is the global leader in terms of refinery FCCU capacity addition during the outlook period with 2,296 mbd by 2023. The region also has the highest capital expenditure, capex, of US$38.5bn for new-build and capacity expansion projects. Among the countries in the region, China will have the highest refinery FCCU additions of 911 mbd by 2023.
Pradeep Shukla, the Oil & Gas analyst at GlobalData, commented: “High demand for gasoline by the domestic transportation sector has been fuelling China’s refinery FCCU capacity expansion. The country is planning to add seven refinery fluid catalytic cracking units by 2023, accounting for more than one-third of Asia’s total FCCU additions.”
GlobalData identifies Africa as the second largest region in terms of refinery FCCU capacity additions as well as capex spending. The region will add around 1,326 mbd of FCCU capacity and has capex of around US$20.6bn to be spent on upcoming refinery FCCU capacity units during the outlook period. In Africa, Nigeria leads with capacity additions of 617 mbd by 2023.
In terms of capacity, among the upcoming refinery FCCUs, Dayushan Island refinery in China, Lagos I refinery in Nigeria and Pulau Muara Besar refinery in Brunei will lead with 304 mbd, 247 mbd and 172 mbd, respectively, by 2023.
In terms of new build capex spending, Tabi refinery in Angola, Ratnagiri refinery in India and Maranhao II refinery in Brazil are the top three planned and announced refinery FCCUs globally for the outlook period with capex of US$2.9bn, US$2.6bn and US$2.1bn respectively.
– Mar. 12, 2019 @ 16:15 GMT |
Tags: Asia will contribute 39% of global refinery fluid catalytic cracking units capacity additions by 2023 says GlobalData
