Refinery News Roundup: New Refineries To Increase Middle East Product Sales
Middle East oil product sales could reach 8 million-9 million b/d by 2023 as new refineries open up in the UAE, Saudi Arabia, Iraq and Oman, Glander International Bunkering senior sourcer Sean Burgin said.
“This additional volume could boost business in Fujairah, complementing bunker demand plus storage and trade activities,” Burgin told the Petrospot Middle East Bunkering Convention held online Jan. 26. Refining capacity in the Middle East is continuing to grow at pace, with a number of new, export-oriented plants and capacity upgrades due to come onstream in the coming years. S&P Global Platts Analytics expects total refining capacity in the Middle East to rise to average 12 million b/d in 2023, up from 9.9 million b/d in 2019.
Fujairah Bunker Sales Lost 17.9% in 2020: Glander
by Ship & Bunker News Team
Tuesday January 26, 2021 Marine fuel supplier
Fujairah market shrank by
575,000 mt/month last year, or 6.9 million mt/year,
Sean Burgin, senior purchaser at Glander, said in a presentation at
Petrospot s That compares with
8.4 million mt for the year as a whole. But improving bunker supply in the region may improve the situation for the port, Burgin said. A third refinery in Fujairah came online in 2020, and a fourth is due to open in
2021, taking local VLSFO supply to more than
600,000 mt/month, he said. Diplomatic breakthroughs in the Middle East may also benefit Fujairah this year. Local market sources told