The Center East is anticipated to be a pivotal area by way of the worldwide standard refinery capability additions, anticipated to contribute over 1 / 4 of the full capability additions by 2030. This progress is underpinned by large-scale initiatives, notably in Iran and Iraq. Each international locations are leveraging their huge crude oil reserves to broaden refining infrastructure, aiming to satisfy rising home demand, scale back imports of refined merchandise, and strengthen export capabilities.
Iran is about to dominate standard refinery capability additions within the Center East, accounting for over 40% of the area’s capability additions by 2030. This may be attributed to a number of components, together with authorities assist, strategic infrastructure growth, and a concentrate on power self-sufficiency.
A complete of 15 new-build and growth initiatives are anticipated to come back on-line in Iran by 2030. New-build initiatives lead the depend and are additionally set to account for over 90% of the nation’s complete capability additions by 2030. Amongst these, Jask II is a serious refinery undertaking with substantial capability additions in the course of the outlook interval. Petro Tejarat Shahin is the operator and fairness proprietor of this new-build undertaking. At the moment within the front-end engineering design stage, the undertaking is predicted to begin operations in 2028 with an introduced capability of 6,000 barrels per day (bpd). Different vital new-build initiatives equivalent to Siraf and Shahid Ghasem Soleimani additional underscore Iran’s dedication to increasing its refining capability in the course of the outlook interval. Iraq is predicted to observe Iran by way of refinery capability additions, with practically 1.9 million barrels per day of capability anticipated to be added by 2030. The nation’s refinery panorama is equally formed by each new-build and growth initiatives. New construct initiatives lead the capability additions within the nation, accounting for 65% of the full capability additions by 2030. Round 28% of the upcoming refinery capability is beneath development whereas the remaining is within the preconstruction levels.
Basra II is a serious refinery new-build undertaking in Iraq with substantial capability additions of 300bpd in the course of the outlook interval. South Refineries is the operator and fairness proprietor of this undertaking set to start operations in 2027. Maysan and Nassiriya II are another main new-build initiatives with vital capability additions in the course of the outlook interval.
Oman stands third by way of refinery capability additions, with practically 695,000bpd of capability anticipated to be added by 2030. New-build initiatives account for many of the capability additions within the nation. Amongst these, Duqm IV and Duqm III are some main initiatives with substantial capability additions, with 300bpd and 200bpd, respectively. Additional evaluation on world standard refinery initiatives will be present in GlobalData’s new report, Standard Refinery New Construct and Enlargement Tasks Evaluation by Kind, Improvement Stage, Key International locations, Area and Forecasts to 2030.