India to drive Asia refinery hydrocracking unit capacity additions by 2025, says GlobalData
India is expected to contribute about 30% of the total refinery hydrotreater capacity additions in Asia between 2021 to 2025, the second highest in the region after China, says GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Global Refinery Hydrocracking Units Outlook to 2025 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Hydrocracking Units’, reveals that India is likely to witness a total hydrocracking unit capacity additions of 465 thousand barrels per day (mbd) by 2025. All the capacity additions are from the expansion of the existing refineries.
Teja Pappoppula, Oil and Gas Analyst at GlobalData, comments: “The Vadinar refinery is the largest upcoming expansion project in India with 170 mbd of capacity expected to be added by 2024. It is in Gujarat with Nayara Energy Ltd being the operator.”
The planned Visakhapatnam refinery in the country is second contributor with 133 mbd of capacity expected to become operational in 2022. This hydrocracking refinery is in Andhra Pradesh with Hindustan Petroleum Corp being the operator.
The Panipat refinery is the third contributor with 66 mbd of capacity expected to be added by 2024. Indian Oil Corp is the operator of the refinery that is in the Haryana state.
Source: Global Data