Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
Muscat outsources oil sector expansion
Bid round and first-ever private refinery shows the government is looking to external investment
The Sri Lankan government is working with Sinopec on the potential construction of a new refinery
Refining Markets
Lee Nichols,
Vice-president, content,
Gulf Energy Information
9 October 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Refining Report: Asia sees major capacity buildout

The region is the global leader in active refining projects, with most based in India and China

Asian oil consumption has increased by more than 6m b/d over the past decade, to reach nearly 36m b/d. The region’s oil demand is forecast to surge by an additional 5.5m b/d, to reach more than 41m b/d, by 2029, according to the IEA. In turn, the region has been the leader in new refining capacity additions, adding approximately 4m b/d of crude distillation unit capacity over the past ten years. By 2028, Asian refining capacity is forecast to increase by nearly a further 4m b/d. The region has also focused on increasing secondary unit capacity. This includes expanding and upgrading as well as building grassroots units to produce cleaner-burning fuels. Many Asian countries have enacted low-su

Also in this section
Momentum builds for Alaska LNG
12 June 2025
Asian and European interest gathers pace as Trump throws his weight behind frontier state
Indonesia’s upstream picks up the pace
12 June 2025
The government is optimistic that increasing offshore activity and exploration will help revive flagging production, despite energy security fears
Letter from the US: Energy needs require a rethink
12 June 2025
Tariffs, AI, critical minerals and emerging markets all raise fundamental policy questions
Petroleum Economist: June 2025
12 June 2025
The June 2025 issue of Petroleum Economist is out now!

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search