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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

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GlobalData : China set to dominate Asian refining industry by contributing 44% of new-build capacity growth by 2024, says GlobalData

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02/14/2020 | 07:30am EST
14 Feb 2020
China set to dominate Asian refining industry by contributing 44% of new-build capacity growth by 2024, says GlobalData
Posted in Oil & Gas

China is expected to lead the Asian refining industry by contributing about 44% of refining capacity additions from planned and announced (new-build) projects by 2024, says GlobalData, a leading data and analytics company.

The company's report, 'Global Refining Industry Outlook to 2024 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries', reveals that China is expected to add 2.3 million barrels per day (mmbd) of planned and announced crude oil refining capacity by 2024. Out of this, 1.3 mmbd comes from the planned projects, while the rest of 1 mmbd is from the announced projects.

Adithya Rekha, Oil and Gas Analyst at GlobalData, comments: 'In China, a total of 9 upcoming refineries are expected to start operations between 2020 and 2024. Among these, five are planned refineries and four are announced refineries. The Jieyang refinery will be the major upcoming refinery in China with refining capacity of 400 mbd. It is expected to start operations in 2021.'

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GlobalData expects Malaysia and Sri Lanka to jointly be the second largest countries in Asia in terms of planned and announced refining capacity additions. Both the countries are expected to add 620 thousand barrels per day (mbd) of refining capacity each by 2024.

The Hambantota III refinery is the largest upcoming refinery in Sri Lanka with the refining capacity of 420 mbd in 2024, while the Pengerang I refinery is one of the major upcoming refineries in Malaysia with a capacity of 300 mbd in 2024.

Pakistan will be the third largest among the countries in Asia with planned and announced refining capacity of 535 mbd in 2024. The Khalifa refinery is the largest upcoming refinery in Pakistan. It is an announced refinery with an expected refining capacity of 250 mbd. It is expected to commence operations in 2023.

Disclaimer

GlobalData plc published this content on 14 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2020 12:29:03 UTC

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Sales 2020 186 M
EBIT 2020 48,8 M
Net income 2020 23,0 M
Debt 2020 35,1 M
Yield 2020 1,32%
P/E ratio 2020 71,7x
P/E ratio 2021 54,0x
EV / Sales2020 8,35x
EV / Sales2021 7,84x
Capitalization 1 522 M
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