Gobal refining review: Part two
An overview of the worldwide refining industry and major developments in Asia and the Middle East are discussed. Middle Eastern economies have continued to grow through the downturn in the past years. Major projects in the Gulf are starting to come to market in 2011 with the start up in Qatar of the Pearl GTL complex. These will be followed by three new refineries in Saudi Arabia, major expansions of the Ruwais refinery in Abu Dhabi and the Sohar refinery in Oman, to be followed by additional new grassroots capacity both in Oman and Kuwait. The region's two main economies, China and India, continue to account for the major share both of product demand growth and refinery investment. Malaysia continues to see strong interest in its refining sector. New refining/petrochemical projects sponsored both by the private sector and by national oil company Petronas are currently in the feasibility phase. Vietnam has also seen a slowing of its refinery expansion plans following the successful start up of the 130 000 bpd Binh Son refinery, Vietnam's first, in 2009.
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