Refining Markets in Gulf Cooperation Council (GCC) Countries: Analysis of Capacity, Demand, Supply, Margin and Competitive Scenario

GlobalData, November 2009, Pages: 144

Refining Markets in Gulf Cooperation Council (GCC) Countries: Analysis of Capacity, Demand, Supply, Margin and Competitive Scenario

Summary

Refining Markets in Gulf Cooperation Council (GCC) Countries: Analysis of Capacity, Demand, Supply, Margin and Competitive Scenario”, is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the refining markets in Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. The report is an in-depth source of information on all active and planned refineries, petroleum product demand-supply scenario, refining margins, key trends and issues along with market share analysis of major refining companies in these countries.

According to the report, the cumulative refining capacity of these countries accounted for 4.9% of global refining capacity and 41% of the total refining capacity of the Middle East in 2008. New refineries and expansion in existing refineries will increase the refining capacity in GCC to 6.8 million barrels per day by 2013 and GCC will contribute 6.4% to global refining capacity.
The average size of refineries in the GCC countries at 11.4 Million Metric Tonnes per Annum (MMTPA) is above global average of 6.7 MMTPA.

Scope

- The report provides detailed information and analysis on refining capacities, margins, demand-supply, market shares of key companies and competitive scenario in the GCC refining markets.
- Refinery level information for all active refineries in the GCC countries covering processing capacity, nelson complexity and conversion ratio.
- Comparative scenario of the refining industry in these markets based on capacity, planned expansions, complexity and demand of petroleum products within these markets and against global averages.
- Crude oil logistics information covering major oil ports, crude oil pipelines and storage terminals
- Distribution of refineries and capacity based on refinery configuration for each market. Positioning of refineries in each country on the basis of capacity-complexity and conversion ratio
- Total petroleum product consumption trends vis-à-vis GDP growth and refining capacity in each market for the period 2000-13
- Production-consumption and import-export trends of gasoline, diesel/gas oil, jet fuel/kerosene, fuel oil and LPG in each market between 2000 and 2013
- Annual price spread of petroleum products (gasoline, diesel/gas oil, jet fuel/kerosene and fuel oil) in Singapore market vs consumption trend in each market for the duration 2003-08
- Typical refinery product slate and throughput and utilization trends in each market for the period 2003-08
- Quarterly regional refining margins for hydroskimming, cracking and hydrocracking refineries in the Singapore market since Q1 2003 and forecasts till Q4 of 2013
- Price differential between light and heavy crude for the period Q1 2003-Q3 2009 and also between fuel oil and gasoline, gas oil for the period Q1 2003-Q4 2013
- Market share analysis of refining capacity in each market for the duration 2000-13
- Joint ventures and foreign investment in existing and upcoming refineries of each market
- Details of upcoming refineries and capital expenditure in the refining sector of each market.

Reasons to buy

- The report provides a detailed scenario of GCC refining markets
- The report will enhance your decision making capability in a more rapid and time sensitive manner.
- The research will allow you to identify prospective investment targets through a comprehensive update and discussion on new refineries, major processing units and capacity expansions of existing units in these GCC markets
- Find the most attractive investment destination(s) for your business by comparing refining industries in these markets.
- Decide on market entry strategies in specific markets with the help of an up-to-date review of existing and planned capacity expansions and secondary conversion abilities for 24 active and planned refineries (till 2013) across six countries
- Plan your future investments in refining business by identifying gross refinery margin trends in each of the two major refining markets since 2003 and forecasts till 2013
- Detailed analysis of major company’s refining businesses in these countries will help in identifying growth and strategies of these companies
- Gain insights into the strengths and weaknesses of your competitors based on market shares of key refining companies in these markets.
- Details of foreign investments and joint ventures will also help in identifying the entry prospects in the refining industry in these markets.

1
1.1 List of Tables
1.2 List of Figures
2 Executive Summary
2.1 Refinery Utilization in GCC Countries Has Remained Largely Unaffected Despite Global Economic Slowdown
2.2 National Oil Companies in GCC Countries Will Drive Refining Capacity Additions Till 2013
2.3 Changing Petroleum Product Consumption Pattern Globally Has Become a Major Challenge for GCC Refining Industry
2.4 Refineries in GCC Markets Are High In Capacity but Low in Complexity
2.5 Decline in Petroleum Product Demand Has Created an Uncertainty in the Market
3 Refining Markets in GCC Countries, Comparative Outlook
3.1 Refining Markets in GCC Countries, Key Comparisons
3.1.1 Refining Markets in GCC Countries, Comparison Based on Total Refining Capacity Additions (MMTPA), 2000-13
3.1.2 Refining Markets in GCC Countries, Comparison Based on Net Refining Capacity Additions (MMTPA) and Growth Rate (%), 2009-13
3.1.3 Refining Markets in GCC Countries, Comparison Based on Total Petroleum Products Demand (Thousand Barrels/day), 2000-13
3.2 Refining Markets in GCC Countries, Recent Trends
3.2.1 Refinery Utilization Rates in GCC Remained Unaffected Despite Global Economic Slowdown
3.2.2 National Priorities Necessitating Investment in the GCC Refining Industry
3.2.3 Complex Refineries That Can Process Heavy and Sour Crude is the Need of the Hour
3.2.4 Increasing Diesel Demand Mandates Higher Diesel Production across the Globe
3.2.5 Fluctuating Refining Margins
3.3 Refining Markets in GCC Countries, Major Challenges
3.3.1 Decline in Petroleum Product Demand in Major Markets
3.3.2 High Construction Costs Have Traditionally Affected Growth of Refining Industry
4 Refining Markets in GCC Countries,Crude Oil Logistics
4.1 Refining Markets in GCC Countries, Major Source Countries for Crude Oil
4.2 Refining Markets in GCC Countries, Crude Oil Logistics
4.2.1 Refining Markets in GCC Countries, Crude Oil Logistics, Major Oil Ports
4.2.2 Refining Markets in GCC Countries, Crude Oil Logistics, Major Crude Oil Pipelines
4.2.3 Refining Markets in GCC Countries, Crude Oil Logistics, Major Oil Storage terminals
5 Refining Markets in GCC Countries, Processing Capacity and Complexity Analysis
5.1 Refining Markets in GCC Countries, Refining Capacity by Market, 2000-13
5.2 Refining Markets in GCC Countries, Configuration of Refineries
5.2.1 Refining Markets in GCC Countries, Distribution of Refineries Based on Type, 2008
5.2.2 Refining Markets in GCC Countries, Distribution of Refining Capacity (MMTPA) Based on Type, 2008
5.2.3 Future Trends in Refinery Configurations
5.3 Refining Markets in GCC Countries, CDU Annual Capacity of Active Refineries by Market
5.3.1 Bahrain, CDU Annual Capacity of Active Refineries (MMTPA), October 2009
5.3.2 Kuwait, CDU Annual Capacity of Active Refineries (MMTPA), October 2009
5.3.3 Oman, CDU Annual Capacity of Active Refineries (MMTPA), October 2009
5.3.4 Qatar, CDU Annual Capacity of Active Refineries (MMTPA), October 2009
5.3.5 Saudi Arabia, CDU Annual Capacity of Active Refineries (MMTPA), October 2009
5.3.6 United Arab Emirates, CDU Annual Capacity of Active Refineries (MMTPA), October 2009
5.4 Refining Markets in GCC Countries, Comparative Positioning of Refineries by Market
5.4.1 Refining Markets in GCC Countries, Positioning of Refineries Based on Capacity (MMTPA) and Complexity (NCI), 2008
5.4.2 Refining Markets in GCC Countries, Positioning of Refineries Based on Conversion Ratio, 2008
5.5 Refining Markets in GCC Countries, Comparison based on Nelson Complexity Index and Conversion Ratio
5.5.1 Refining Markets in GCC Countries, Comparison Based on Nelson Complexity Index vis-à-vis Global Average
5.5.2 Refining Markets in GCC Countries, Comparison Based on Conversion Ratio vis-à-vis Global Average
6 Refining Markets in GCC Countries,Refined Products Outlook and Trends
6.1 Refining Markets in GCC Countries, Petroleum Product Consumption vis-à-vis GDP Growth by Market, 2000-08
6.1.1 Bahrain, Petroleum Product Consumption (Thousand Barrels per Day) vis-à-vis GDP Growth (%), 2000-08
6.1.2 Kuwait, Petroleum Product Consumption (Thousand Barrels per Day) vis-à-vis GDP Growth (%), 2000-08
6.1.3 Oman, Petroleum Product Consumption (Thousand Barrels per Day) vis-à-vis GDP Growth (%), 2000-08
6.1.4 Qatar, Petroleum Product Consumption (Thousand Barrels per Day) vis-à-vis GDP Growth (%), 2000-08
6.1.5 Saudi Arabia, Petroleum Product Consumption (Thousand Barrels per Day) vis-à-vis GDP Growth (%), 2000-08
6.1.6 United Arab Emirates, Petroleum Product Consumption (Thousand Barrels per Day) vis-à-vis GDP Growth (%), 2000-08
6.2 Refining Markets in GCC Countries, Petroleum Product Consumption vis-à-vis Refining Capacity Growth by Market, 2000-13
6.2.1 Bahrain, Petroleum Product Consumption vis-à-vis Refining Capacity Growth (Thousand barrels per Day), 2000-13
6.2.2 Kuwait, Petroleum Product Consumption vis-à-vis Refining Capacity Growth (Thousand barrels per Day), 2000-13
6.2.3 Oman, Petroleum Product Consumption vis-à-vis Refining Capacity Growth (Thousand barrels per Day), 2000-13
6.2.4 Qatar, Petroleum Product Consumption vis-à-vis Refining Capacity Growth (Thousand barrels per Day), 2000-13
6.2.5 Saudi Arabia, Petroleum Product Consumption vis-à-vis Refining Capacity Growth (Thousand barrels per Day), 2000-13
6.2.6 United Arab Emirates, Petroleum Product Consumption vis-à-vis Refining Capacity Growth (Thousand barrels per Day), 2000-13
6.3 Refining Markets in GCC Countries, Gasoline Demand, Supply and Trade by Market, 2000-13
6.3.1 Refining Markets in GCC Countries, Gasoline Production vs Consumption (Thousand Barrels per Day), 2000-13
6.3.2 Refining Markets in GCC Countries, Gasoline Consumption (Thousand Barrels per Day) vs Spread ($/Barrel), 2003- 08
6.3.3 Refining Markets in GCC Countries, Gasoline Export and Import (Thousand Barrels per Day), 2000-13
6.4 Refining Markets in GCC Countries, Diesel/Gas Oil Demand, Supply and Trade by Market, 2000-13
6.4.1 Refining Markets in GCC Countries, Diesel/Gas Oil Production vs Consumption (Thousand Barrels per Day), 2000-13
6.4.2 Refining Markets in GCC Countries, Diesel/Gas Oil Consumption (Thousand Barrels per Day) vs Spread ($/Barrel), 2003- 08
6.4.3 Refining Markets in GCC Countries, Diesel/Gas Oil Export and Import, 2000-13
6.5 Refining Markets in GCC Countries, Jet Fuel/Kerosene Demand, Supply and Trade by Market, 2000-13
6.5.1 Refining Markets in GCC Countries, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13
6.5.2 Refining Markets in GCC Countries, Jet Fuel/Kerosene Consumption (Thousand Barrels per Day) vs Spread ($/Barrel), 2003- 08
6.5.3 Refining Markets in GCC Countries, Jet Fuel/Kerosene Export and Import, 2000-13
6.6 Refining Markets in GCC Countries, Fuel Oil Demand, Supply and Trade by Market, 2000-13
6.6.1 Refining Markets in GCC Countries, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13
6.6.2 Refining Markets in GCC Countries, Fuel Oil Consumption (Thousand Barrels per Day) vs Spread ($/Barrel), 2003- 08
6.6.3 Refining Markets in GCC Countries, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13
6.7 Refining Markets in GCC Countries, LPG Demand, Supply and Trade by Market, 2000-13
6.7.1 Refining Markets in GCC Countries, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13
6.7.2 Refining Markets in GCC Countries, LPG Export and Import (Thousand Barrels per Day), 2000-13
7 Refining Markets in GCC Countries,Refinery Operation, Margin Analysis and Conversion Economics
7.1 Refining Markets in GCC Countries, Typical Product Slate
7.2 Refining Markets in GCC Countries, Throughput and Utilization, 2003-08
7.3 Regional Refining Margins Analysis and Forecasts
7.3.1 Singapore, Hydroskimming Refinery Margins ($/Barrel), 2003-13
7.3.2 Singapore, HydroCracking Refinery Margins ($/Barrel), 2003-13
7.3.3 Singapore, Cracking Refinery Margins ($/Barrel), 2003-13
7.4 Refining Markets in GCC Countries, Conversion Economics
7.4.1 Light and Heavy Crude Oil Price Differential
7.4.2 Fuel Oil and Light Distillate Price Differential
7.4.3 Fuel Oil and Middle Distillate Price Differential
8 Refining Markets in GCC Countries, Market Share Analysis
8.1 Refining Markets in GCC Countries, Capacity by Company, 2000-13
8.1.1 Bahrain Refining Industry, Capacity (MMTPA) by Company, 2000-13
8.1.2 Kuwait Refining Industry, Capacity (MMTPA) by Company, 2000-13
8.1.3 Oman Refining Industry, Capacity (MMTPA) by Company, 2000-13
8.1.4 Qatar Refining Industry, Capacity (MMTPA) by Company, 2000-13
8.1.5 Saudi Arabia Refining Industry, Capacity (MMTPA) by Company, 2000-13
8.1.6 United Arab Emirates Refining Industry, Capacity (MMTPA) by Company, 2000-13
8.2 Refining Markets in GCC Countries, Capacity Share Vis-à-vis Growth in Refining Capacity of Major Refining Companies
8.3 Refining Markets in GCC Countries, Comparison of Nelson Complexity Index by Company
8.4 Kuwait National Petroleum Company, Refining Operations
8.4.1 Kuwait National Petroleum Company, Refining Operations, Overview
8.4.2 Kuwait National Petroleum Company, Refining Operations, Key Refineries, 2008
8.4.3 Kuwait National Petroleum Company, Refining Operations, Key Planned Projects
8.5 Qatar Petroleum, Refining Operations
8.5.1 Qatar Petroleum, Refining Operations, Overview
8.5.2 Qatar Petroleum, Refining Operations, Key Refineries, 2008
8.5.3 Qatar Petroleum, Refining Operations, Key Planned Projects
8.6 Bahrain Petroleum Company B.S.C., Refining Operations
8.6.1 Bahrain Petroleum Company B.S.C., Refining Operations, Overview
8.6.2 Bahrain Petroleum Company B.S.C., Refining Operations, Key Refineries, 2008
8.7 Saudi Aramco, Refining Operations
8.7.1 Saudi Aramco, Refining Operations, Overview
8.7.2 Saudi Aramco, Refining Operations, Key Refineries, 2008
8.7.3 Saudi Aramco, Refining Operations, Key Planned Projects
8.8 Abu Dhabi Oil Refining Company, Refining Operations
8.8.1 Abu Dhabi Oil Refining Company, Refining Operations, Overview
8.8.2 Abu Dhabi Oil Refining Company, Refining Operations, Key Refineries, 2008
8.9 Oman Refineries & Petrochemicals Company LLC, Refining Operations
8.9.1 Oman Refineries & Petrochemicals Company LLC, Refining Operations, Overview
8.9.2 Oman Refineries & Petrochemicals Company LLC, Refining Operations, Key Refineries, 2008
9 Refining Markets in GCC Countries, Foreign Investments, Joint Ventures and Upcoming Projects
9.1 Refining Markets in GCC Countries, Major Foreign Investors and Joint Ventures
9.1.1 Qatar, Refining Projects Involving Foreign Investments and Joint Ventures
9.1.2 Saudi Arabia, Refining Projects Involving Foreign Investments and Joint Ventures
9.1.3 United Arab Emirates, Refining Projects Involving Foreign Investments and Joint Ventures
9.2 Refining Markets in GCC Countries, Upcoming Projects and Capital Expenditure
10 Appendix
10.1 Methodology
10.1.1 Coverage
10.1.2 Secondary Research
10.1.3 Primary Research
10.1.4 Midstream Forecasts
10.1.5 Expert Panel Validation
10.2 Contact Us
10.3 About Us
10.4 Disclaimer

Executive Summary

1.1 List of Tables
Table 1: Refining Markets in GCC Countries, Key Statistics, October 2009 16
Table 2: Refining Markets in GCC Countries, Comparison Based on Total Petroleum Products Demand (Thousand Barrels/day), 2000-13 20
Table 3: Bahrain, Major Oil Ports 26
Table 4: Kuwait, Major Oil Ports 26
Table 5: Oman, Major Oil Ports 27
Table 6: Qatar, Major Oil Ports 27
Table 7: Saudi Arabia, Major Oil Ports 27
Table 8: United Arab Emirates, Major Oil Ports 28
Table 9: Bahrain, Major Crude Oil Pipelines 28
Table 10: Kuwait, Major Crude Oil Pipelines 28
Table 11: Oman, Major Crude Oil Pipelines 29
Table 12: Qatar, Major Crude Oil Pipelines 29
Table 13: Saudi Arabia, Major Crude Oil Pipelines 30
Table 14: United Arab Emirates, Major Crude Oil Pipelines 30
Table 15: Bahrain, Major Oil Storage Terminals 31
Table 16: Kuwait, Major Oil Storage Terminals 31
Table 17: Oman, Major Oil Storage Terminals 31
Table 18: Qatar, Major Oil Storage Terminals 32
Table 19: Saudi Arabia, Major Oil Storage Terminals 32
Table 20: United Arab Emirates, Major Oil Storage Terminals 32
Table 21: Refining Markets in GCC Countries, Refining Capacity (MMTPA) by Market, 2000-13 34
Table 22: Bahrain, CDU Annual Capacity of Active Refineries (MMTPA), October 2009 36
Table 23: Kuwait, CDU Annual Capacity of Active Refineries (MMTPA), October 2009 37
Table 24: Oman, CDU Annual Capacity of Active Refineries (MMTPA), October 2009 37
Table 25: Qatar, CDU Annual Capacity of Active Refineries (MMTPA), October 2009 37
Table 26: Saudi Arabia, CDU Annual Capacity of Active Refineries (MMTPA), October 2009 37
Table 27: United Arab Emirates, CDU Annual Capacity of Active Refineries (MMTPA), October 2009 37
Table 28: Bahrain, Gasoline Production vs Consumption (Thousand Barrels Per Day), 2000-13 51
Table 29: Kuwait, Gasoline Production vs Consumption (Thousand Barrels per Day), 2000-13 52
Table 30: Oman, Gasoline Production vs Consumption (Thousand Barrels per Day), 2000-13 53
Table 31: Qatar, Gasoline Production vs Consumption (Thousand Barrels per Day), 2000-13 54
Table 32: Saudi Arabia, Gasoline Production vs Consumption (Thousand Barrels per Day), 2000-13 55
Table 33: United Arab Emirates, Gasoline Production vs Consumption (Thousand Barrels per Day), 2000-13 56
Table 34: Bahrain, Gasoline Export and Import (Thousand Barrels per Day), 2000-13 58
Table 35: Kuwait, Gasoline Export and Import (Thousand Barrels per Day), 2000-13 59
Table 36: Oman, Gasoline Export and Import (Thousand Barrels per Day), 2000-13 60
Table 37: Qatar, Gasoline Export and Import (Thousand Barrels per Day), 2000-13 61
Table 38: Saudi Arabia, Gasoline Export and Import (Thousand Barrels per Day), 2000-13 62
Table 39: United Arab Emirates, Gasoline Export and Import (Thousand Barrels per Day), 2000-13 63
Table 40: Bahrain, Diesel/Gas Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 64
Table 41: Kuwait, Diesel/Gas Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 65
Table 42: Oman, Diesel/Gas Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 66
Table 43: Qatar, Diesel/Gas Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 67
Table 44: Saudi Arabia, Diesel/Gas Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 68
Table 45: Bahrain, Diesel/Gas Oil Export and Import (Thousand Barrels per Day), 2000-13 70
Table 46: Kuwait, Diesel/Gas Oil Export and Import (Thousand Barrels per Day), 2000-13 71
Table 47: Oman, Diesel/Gas Oil Export and Import (Thousand Barrels per Day), 2000-13 72
Table 48: Qatar, Diesel/Gas Oil Export and Import (Thousand Barrels per Day), 2000-13 73
Table 49: Saudi Arabia, Diesel/Gas Oil Export and Import (Thousand Barrels per Day), 2000-13 74
Table 50: United Arab Emirates, Diesel/Gas Oil Export and Import (Thousand Barrels per Day), 2000-13 75
Table 51: Bahrain, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13 76
Table 52: Kuwait, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13 77
Table 53: Oman, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13 78
Table 54: Qatar, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13 79
Table 55: Saudi Arabia, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13 80
Table 56: United Arab Emirates, Jet Fuel/Kerosene Production vs Consumption (Thousand Barrels per Day), 2000-13 81
Table 57: Bahrain, Jet Fuel/Kerosene Export and Import (Thousand Barrels per Day), 2000-13 83
Table 58: Kuwait, Jet Fuel/Kerosene Export and Import (Thousand Barrels per Day), 2000-13 84
Table 59: Oman, Jet Fuel/Kerosene Export and Import (Thousand Barrels per Day), 2000-13 85
Table 60: Qatar, Jet Fuel/Kerosene Export and Import (Thousand Barrels per Day), 2000-13 86
Table 61: Saudi Arabia, Jet Fuel/Kerosene Export and Import (Thousand Barrels per Day), 2000-13 87
Table 62: United Arab Emirates, Jet Fuel/Kerosene Export and Import (Thousand Barrels per Day), 2000-13 88
Table 63: Bahrain, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 89
Table 64: Kuwait, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 90
Table 65: Oman, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 91
Table 66: Qatar, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 92
Table 67: Saudi Arabia, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 93
Table 68: United Arab Emirates, Fuel Oil Production vs Consumption (Thousand Barrels per Day), 2000-13 94
Table 69: Bahrain, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13 96
Table 70: Kuwait, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13 97
Table 71: Oman, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13 98
Table 72: Qatar, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13 99
Table 73: Saudi Arabia, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13 100
Table 74: United Arab Emirates, Fuel Oil Export and Import (Thousand Barrels per Day), 2000-13 101
Table 75: Bahrain, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13 102
Table 76: Kuwait, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13 103
Table 77: Oman, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13 104
Table 78: Qatar, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13 105
Table 79: Saudi Arabia, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13 106
Table 80: United Arab Emirates, LPG Production vs Consumption (Thousand Barrels per Day), 2000-13 107
Table 81: Bahrain, LPG Export and Import (Thousand Barrels per Day), 2000-13 108
Table 82: Kuwait , LPG Export and Import (Thousand Barrels per Day), 2000-13 109
Table 83: Oman, LPG Export and Import (Thousand Barrels per Day), 2000-13 110
Table 84: Qatar, LPG Export and Import (Thousand Barrels per Day), 2000-13 111
Table 85: Saudi Arabia, LPG Export and Import (Thousand Barrels per Day), 2000-13 112
Table 86: United Arab Emirates, LPG Export and Import (Thousand Barrels per Day), 2000-13 113
Table 87: Refining Markets in GCC Countries, Capacity (MMTPA) by Company, 2000-13 126
Table 88: Bahrain Refining Industry, Capacity (MMTPA) by Company, 2000-13 126
Table 89: Kuwait Refining Industry, Capacity (MMTPA) by Company, 2000-13 127
Table 90: Oman Refining Industry, Capacity (MMTPA) by Company, 2000-13 127
Table 91: Qatar Refining Industry, Capacity (MMTPA) by Company, 2000-13 127
Table 92: Saudi Arabia Refining Industry, Capacity (MMTPA) by Company, 2000-13 129
Table 93: United Arab Emirates Refining Industry, Capacity (MMTPA) by Company, 2000-13 130
Table 94: Kuwait National Petroleum Company, Refinery Key Statistics, October 2009 132
Table 95: Qatar Petroleum, Refinery Key Statistics, October 2009 133
Table 96: Bahrain Petroleum Company B.S.C., Refinery Key Statistics, October 2009 134
Table 97: Saudi Aramco, Refinery Key Statistics, October 2009 135
Table 98: Abu Dhabi Oil Refining Company, Refinery Key Statistics, October 2009 136
Table 99: Oman Refineries & Petrochemicals Company LLC, Refinery Key Statistics, October 2009 137
Table 100: Refining Markets in GCC Countries, Upcoming Projects and Capital Expenditure, 2009-13 140

“Refining Markets in Gulf Cooperation Council (GCC) Countries: Analysis of Capacity, Demand, Supply, Margin and Competitive Scenario”, is the latest report
that offers comprehensive information on the refining markets in Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. The report is an in-depth source of information on all active and planned refineries, petroleum product demand-supply scenario, refining margins, key trends and issues along with market share analysis of major refining companies in these countries.

According to the report, the cumulative refining capacity of these countries accounted for 4.9% of global refining capacity and 41% of the total refining capacity of the Middle East in 2008. New refineries and expansion in existing refineries will increase the refining capacity in GCC to 6.8 million barrels per day by 2013 and GCC will contribute 6.4% to global refining capacity. The average size of refineries in the GCC countries at 11.4 Million Metric Tonnes per Annum (MMTPA) is above global average of 6.7 MMTPA.

Refinery Utilization in GCC Countries Has Remained Largely Unaffected by the Global Economic Slowdown

Global refinery throughput and utilization dipped from the third quarter of 2008 and has not recovered till the third quarter of 2009. Decreased petroleum product demand in the major consumer markets, especially the US, has affected refinery throughputs globally. Global refinery utilization averaged 85% in 2008, a decrease of 1% over the previous year. Increase in petroleum product demand has not been able to increase the refinery utilization rate. The major reason is commissioning of new refineries in countries like India, China, Vietnam, Algeria and Qatar. Refining overcapacity has kept refinery utilization at the lower level and in 2009 the refinery utilization is expected to decrease further. The refinery utilization in the GCC markets is also expected to decline in 2009 but to a lesser extent.

National Oil Companies in GCC Countries Will Drive Refining Capacity Additions Till 2013

In GCC, national oil companies will go ahead with their refinery projects despite a slowdown in refinery investments globally due to decreased petroleum demand, dwindling refinery margins and high construction costs. National oil companies in the GCC countries are investing in new refineries to process domestic heavy crude and reduce the import of light and middle distillates. The Middle East has abundant crude oil of different varieties and this will help the region to become a global refining hub. As it is very difficult to construct new refineries in North America and Europe, the Middle East can become a major petroleum product supplier to these countries rather than crude oil supplier.

Lower Light and Heavy Crude Oil Price Differential Will Affect the Investment in Secondary Processing Units

During the period 2003-08, the spread between light benchmark Brent crude and heavy sour Mexican Maya crude oils averaged around $11/barrel and rose to a high of $19.5/barrel in the second quarter of 2008. However, the spread decreased to $4.9/barrel in the third quarter of 2009. The lower, light-heavy crude differential provides an advantage to light crude oil processing refineries. The margin and advantage enjoyed by complex refineries have decreased considerably in the recent past. The trend also indicates increasing heavy oil processing capacity in the world. The continued trend may lead to lower investments in the secondary processing units. The recent decision of Valero Energy Corporation to shutdown its coking units and process lighter crude replacing heavy crude oil by 60%, reiterates this fact.

However, the difference between hydroskimming and cracking margins will provide a big incentive for investment in secondary processing units. Highly complex refineries will still be enjoying better margins because of lower fuel oil production and better light and middle distillates prices. It is also expected that increased supply of crude oil from OPEC (Organization of the Petroleum Exporting Countries) and recovery in crude oil prices will also increase the light and heavy crude price differential.

Refineries in GCC Markets Are High In Capacity but Low in Complexity

The GCC refinery markets account for total 4.9% of global refining capacity. The average size of refineries in these countries, at 11.4 Million Metric Tonnes per Annum (MMTPA), is above the global average of 6.7 MMTPA. However, the complexity is lower than the global average. By complexity, it refers to the Nelson Complexity Index (NCI), which is used is used across the world to compare the conversion and value addition capabilities of refineries. NCI is also provides an idea about the refinery replacement cost. In 2008, the average complexity of refineries in these countries was 4.6 while the global average was 5.7.

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