- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
OPEC refining capacity to expand 2 mb/d by 2015
OPEC estimates show that OPEC refining capacity will expand by more than 2 mb/d by 2015. This includes around 1.5 mb/d of additional distillation capacity and another 0.6 mb/d capacity in condensate plants within the national borders, thus passing 10 mb/d of downstream capacity by 2015. Moreover, substantial investments are on the way as part of equity shares in refineries outside national borders.
The cumulative investment required for the realization of projected downstream capacity in OPEC Member Countries until 2015 is estimated at around $40 billion. This is part of OPEC’s ongoing efforts to support market stability by supplying required products to consumers. The larger part of this investment is expected to take place in the period after 2011 and is related to major projects coming on stream towards the end of the forecast period.
