Global refining capacity on course to hit 119,750 b/d in 3 years

London (Quantum Commodity Intelligence) - The green industrial revolution has come too late to avert a wave of new refineries in the world that will accelerate global capacity to 119,750 b/d by 2025, according to a new study.

The rate of growth in fresh global refining capacity more than doubles between 2020 and 2025 compared to 2015 and 2020.

After increasing 1% a year from 2015, which saw global refining capacity rise 5,237 b/d to hit 107,617 b/d in 2020, the pace surges again to 2.1% a year until 2025, adding another 12,137/bd, points out the Global Refining Industry Outlook to 2025.