Growing domestic demand combined with huge oil reserves will lead to a significant increase in refining capacity in the Middle East, according to industry publication Offshore Technology, citing a study by GlobalData Energy.
“The Middle East is expected to be a key region in terms of growth in traditional refinery capacity worldwide, accounting for more than a quarter of the total increase by 2030. This growth is driven by large-scale projects, particularly in Iran and Iraq. Both countries are using their vast oil reserves to expand their oil refining infrastructure in an effort to meet growing domestic demand, reduce oil product imports, and strengthen their export capabilities,” the experts write.
In their opinion, Iran will dominate in terms of refinery commissioning, accounting for 40% of the total. The country plans to commission a total of 15 new and expanded projects. The largest of these is Jask II, with a declared capacity of 6,000 barrels per day. The project is currently in the preliminary design stage and is expected to be launched in 2028.
Oil refining capacity in Iraq is expected to increase by 1.9 million bpd. New projects are leading the way in terms of commissioning rates in the country, accounting for 65% of the total expected volume by 2030. About 28% of these are under construction. One of the significant projects, Basra II, involves increasing production by 300 bpd in 2027.
Oman ranks third in terms of oil refining capacity growth, with an increase of 695,000 bpd by 2030.
