Middle East refiners could increase by a third
Exports from the new super-refineries of the Middle East – now the world’s fastest-growing refining region – will speed the pace of closures in Europe
The oil states of the Middle East are in the midst of a surge of refinery construction, which could increase regional capacity by as much as a third over the coming five years. The new capacity, designed to make products to the latest EU specifications, will be competing for markets against exports from refineries in Asia and the US – and it could hasten the end for many more of Europe’s old and inefficient facilities. The Middle East saw its first wave of refinery construction in the 1980s, but growth in regional demand has absorbed much of that capacity. The new wave eventually could bring as much as 3 million barrels a day (b/d) of new export capacity, reinforcing the worldwide trend to
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
