The Al-Zour refinery in Kuwait is the largest upcoming refinery project in the Middle East by 2026. The new build refinery is designed to process 615 thousand barrels per day (mbd) and is expected to start operations in 2022. The Kuwait Integrated Petroleum Industries Co-operated refinery will produce refined products such as ultra-low sulfur diesel fuel and feedstock for petchem projects, catering to both domestic and export markets.
The Siraf refinery in Iran is the second largest upcoming refinery project in the Middle East region. The refinery project is in the construction stage and expected to start operation in 2025 with a capacity of 360 mbd. The refinery will process gas condensate to obtain products such as gas oil, kerosene, and liquid petroleum gas (LPG).
Duqm IV in Oman ranks the third largest upcoming refinery project during the outlook period. The project is to be operated by Canada Business Holdings Inc with a capacity of 300 mbd. The project is in the approval stage and is expected to start operation by 2025.
Duqm I, also in Oman, is the fourth largest upcoming refinery project and is expected to start operation in 2023 with a capacity of 230 mbd. The project would be operated by Duqm Refinery and Petrochemical Industries LLC, and diesel, jet fuel, naptha, and LPG will be the primary products of the refinery. The project is strategically located nearer to international shipping lanes and is convenient for exports.
Jask I in Iran, Kirkuk III, and Maysan in Iraq, each with a capacity of 150 mbd, stand fifth among upcoming refineries in the Middle East. Bakhtar Petrochemical Co is the operator of Jask I and the project is expected to start operation in 2025.
North Refineries Co is the operator and 100% equity stakeholder of the Kirkuk III refinery. The project is expected to commence operations by 2026.
The Maysan refinery is in the construction stage and expected to start operation by 2026. The Maisan International Refinery Co AG is the proposed operator.
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