Middle East oil refineries are set to add 618,000 b/d of production capacity by 2029, turning the region inot a net exporter equal to about 6 million b/d by 2030 and approaching 7 million b/d by 2040, according to an analysis by FGE NexantECA presented in Muscat on April 29.
Bahrain's Bapco Refining refinery will increase capacity by 113,000 b/d in the second or third quarter of 2025 while Oman's Duqm will add 25,000 b/d in the current quarter from a 'debottlenecking' " Iman Nasseri, Middle East managing director, told the Oman Maritime, Ports and Energy Forum.
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"We have a few projects still in Oman, UAE, Fujairah and Saudi Arabia, yet they are waiting for someone to take a final investment decision and finance those projects," Nasseri said.
He expects condensates and natural gas liquids to add to the region's net surplus of products over the next decade, rising 1 million b/d for condensates by 2033 and NGL's output up 2 million b/d over the same period.
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