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Asian Refiners Have Capacity to Increase Runs

REFINING

Asian refiners have more capacity than the West to increase refinery runs according to S&P Global.

  • Asia is expected to add 1mbpd to net CDU capacity over 2019-2022 while North America, Europe and Africa are seeing a contraction during the same period.
  • Weak domestic demand in China and limited export quotas are likely to limit refining growth.
  • Asian refiners are expecting changing crude flows as Europe withdraws from Russian supplies but remain focused on Middle East supply with long term sour crude contracts.

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Asian refiners have more capacity than the West to increase refinery runs according to S&P Global.

  • Asia is expected to add 1mbpd to net CDU capacity over 2019-2022 while North America, Europe and Africa are seeing a contraction during the same period.
  • Weak domestic demand in China and limited export quotas are likely to limit refining growth.
  • Asian refiners are expecting changing crude flows as Europe withdraws from Russian supplies but remain focused on Middle East supply with long term sour crude contracts.