GlobalData’s latest report, ‘Global Refining Industry Outlook to 2026 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries’, says that the Middle East refining capacity increased from 10,684 thousand barrels of oil per day (mbd) in 2016 to 12,145mbd in 2021, at an Average Annual Growth Rate (AAGR) of 2.6%. It is expected to increase from 12,145mbd in 2021 to 15,480mbd in 2026 at an AAGR of 4.9%.
Saudi Arabia, Iran, United Arab Emirates, Iraq and Turkey are the major countries in the Middle East that accounted for 78% of the total refining capacity in 2021.
Go deeper with GlobalData
Saudi Arabia had the highest refining capacity in 2021, with 3,325mbd. Other key countries in terms of refining capacity were Iran, United Arab Emirates, Iraq and Turkey with 2,606mbd, 1,543mbd, 1,215mbd and 816mbd, respectively. Turkey witnessed the highest capacity growth during 2016 to 2021, with an AAGR of 7.4% among the key countries, followed by Iran with 5.3%.
In the Middle East, 13 countries have active refineries, with a total refining capacity of 12,145mbd in 2021. Ruwais, Ras Tanura, Bandar Abbas II, Jubail II and Mina Abdullah are some of the largest active refineries.
By 2026, 18 new refineries are expected to commence operations in the Middle East. Al-Zour, Kuwait; Siraf, Iran; Bandar Jask, Iran; and Duqm I, Oman are some of the largest upcoming refineries in the Middle East during the 2022 to 2026 outlook period.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
