new oil refinery projects around the world in lesotho

   
new oil refinery projects around the world in lesotho
                                               
                                               
                                               
                                               
  • new oil refinery projects around the world in lesotho
Why did refineries close in 2022 & 2023?

Less petroleum demand and the associated lower petroleum product prices encouraged refinery closures, reducing global refining capacity, particularly in the US, Europe and Japan. However, several new refinery projects are set to come online during 2022 and 2023, increasing capacity.

How many upcoming crude oil refinery projects will start operations in 2022?

Globally, 460 upcoming crude oil refinery projects are expected to start operations from 2022 to 2026. Of these, 118 represent new build projects and 342 are expansions of existing projects. About 215 upcoming refinery projects are in the construction stage and are likely to start operations from 2022 to 2026.

Will new refinery projects come online in 2022 & 2023?

However, the US Energy Information Administration (EIA) notes that a number of new refinery projects are set to come online during 2022 and 2023, increasing capacity.

Where are new refineries located?

Many of these new refineries are located in coastal areas and have easy access to export refined products that are not consumed domestically. The most global refining capacity under development is in China.