U.S. Refiners Continue Capacity Additions as Utilization Rises

July 31, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--The primary measure of U.S. refining capacity increased to 18.4 million barrels per day (BBL/d) at the start of 2024, a 2% increase when compared with the start of 2023, according to the U.S. Energy Information Administration (EIA). This marks the second time capacity grew annually since the COVID-19 pandemic, which the EIA attributed primarily to additions at existing facilities. Industrial Info is tracking more than $3.3 billion worth of active and planned expansion and unit-addition projects at refineries across the U.S., including nine projects--mostly in Texas and Louisiana--set to kick off in the remainder of 2024. BP plc (NYSE:BP) leads among refiners for U.S.-based expansions and additions planned for the coming years. Other companies featured: Linde plc (NYSE:LIN), Koch Industries Incorporated, Valero Energy Corporation (NYSE:VLO) and HF Sinclair Corporation (NYSE:DINO).