The Sri Lankan government is working with Sinopec on the potential construction of a new refinery
Refining Report: Asia sees major capacity buildout
The region is the global leader in active refining projects, with most based in India and China
Asian oil consumption has increased by more than 6m b/d over the past decade, to reach nearly 36m b/d. The region’s oil demand is forecast to surge by an additional 5.5m b/d, to reach more than 41m b/d, by 2029, according to the IEA. In turn, the region has been the leader in new refining capacity additions, adding approximately 4m b/d of crude distillation unit capacity over the past ten years. By 2028, Asian refining capacity is forecast to increase by nearly a further 4m b/d. The region has also focused on increasing secondary unit capacity. This includes expanding and upgrading as well as building grassroots units to produce cleaner-burning fuels. Many Asian countries have enacted low-su
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
