Iraq is set to emerge as the third largest country in terms of global refinery crude distillation unit (CDU) industry capacity growth from new-build and expansion projects between 2019 and 2023, according to GlobalData, a leading data and analytics company
The country is set to add around 1,470 mbl per day of CDU capacity by 2023.
GlobalData’s report ‘Global Refinery Crude Distillation Units (CDU) Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Crude Distillation Units’ states that around 21,579 mbl per day of refinery CDU capacity is expected to be added globally by 2023, taking the total global refinery crude distillation unit capacity to around 121,454 mbl per day in 2023.
China is the global leader in terms of refinery CDU capacity additions during the outlook period with 4,000 mbl per day. The country also has the third highest new-build, and expansion capex globally, to be spent over the next four years.
GlobalData has identified Nigeria as the second largest country in terms of refinery CDU capacity additions. The country is set to add around 2,039 mbl per day of CDU capacity by 2023.
Sumit Kumar Chaudhuri, oil and gas analyst at GlobalData, commented, “Growing demand from the domestic transportation sector and industrial growth is driving China’s primary distillation capacity additions. Crude distillation capacity expansion is also powering China’s crude imports, and will further help the country to increase exports of petroleum products.”
