12 Jul 2021
Posted in Oil & Gas
China to lead Asia’s refinery hydrocracking unit capacity additions by 2025, says GlobalData
China is expected to lead Asia’s refinery hydrocracking unit capacity additions, contributing about 56% of the regions’ total hydrocracking unit capacity additions between 2021 and 2025, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Refinery Hydrocracking Units Outlook to 2025 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Hydrocracking Units’, reveals that China is expected to develop new-build refineries with a total hydrocracking unit capacity of 803 thousand barrels per day (mbd) by 2025, while the expansion projects account for the rest with 237 mbd.
Teja Pappoppula, Oil and Gas Analyst at GlobalData comments: “In China, eight new-build hydrocracking unit refineries are likely to start operations by 2025 while the rest are expansion projects. The planned Jieyang and Lianyungang I are the largest new- build refineries with a hydrocracking unit capacities of 165 mbd and 142 mbd respectively. Among the expansion projects, Zhenhai refinery is the largest upcoming one with 80 mbd of capacity, closely followed by Dayushan Island with 76 mbd.”
GlobalData expects India to be the second-highest contributor to the Asia’s refinery hydrocracking unit capacity additions by 2025 with a total refining capacity of 465 mbd by 2025. Vadinar refinery is the largest expansion project in the country with a capacity of 170 mbd.
Thailand is expected to add third largest refinery hydrocracking unit capacity additions in Asia with 197 mbd by 2025. The Sriracha I refinery accounts for most of the capacity additions in the country with 194 mbd of capacity expected to be added by 2025.