May 3, 2023 [Offshore Technology] – There are 43 announced and planned refineries in Asia, which are expected to commence operation during 2023-2030.
During this period, these proposed refineries are expected to add 9.1mmbd (million barrels per day) of CDU (crude distillation unit) capacity in Asia. By country, during 2023-2030, Pakistan is expected to add highest number of announced and planned refineries at 12, followed by China and India with eight and five, respectively.
GlobalData uses proprietary data and analytics to provide a complete picture of the global oil refinery segment.
Listed below are the five largest upcoming oil refineries in Asia by capacity in 2030, according to latest information from GlobalData’s refinery database.
1. Hambantota III Refinery
Hambantota III is an announced, coking refinery located in Southern Province, Sri Lanka. It is expected to start operations in 2027. It has a proposed CDU capacity of 420mbd (thousand barrels per day). This non-integrated refinery is under approval. It will be operated by Hambantota Oil Refinery. Sugih Energy International (100%) is the sole equity holder in the refinery.
2. Caofeidian V Refinery
Located in Hebei, China, Caofeidian V is a coking refinery. It is expected to start operation in 2029. The proposed CDU capacity of this refinery is 401mbd. Hebei Xinhua Petrochemical Co will operate this announced refinery. This integrated refinery is owned by Hebei Xinhua Petrochemical Co (100%). It is presently in the approval stage.
3. Yulong Refinery
Yulong is a planned, cracking refinery located in Shandong, China. It is in construction stage. The refinery is expected to commence operation in 2024 with a CDU capacity of 400mbd. It is an integrated refinery. It will be operated by Shandong Yulong Petrochemical. Shandong Yulong Petrochemical (100%) is the equity holders in the refinery.
4. Larkana Refinery
Located in Sindh, Pakistan, Larkana is an announced, hydroskimming refinery. It is owned by Pakistan State Oil Co (100%). The refinery is expected to commence operation in 2025 with a CDU capacity of 400mbd. It will be operated by Pakistan State Oil Co. This non-integrated refinery is under feasibility.
5. Manila Refinery
Located in National Capital, Philippines, the Manila is a cracking refinery. It is owned by China Petrochemical (100%). It is expected to commence operation in 2027 with a CDU capacity of 400mbd. China Petroleum & Chemical is the operator of the announced refinery. This non-integrated refinery is currently in the feasibility stage.
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