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February 19, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--Refineries play a crucial role in the global economy and their regular maintenance remains a top priority. This year's refinery maintenance spending figures prominently across the globe as many refineries undertake routine inspection and repairs amid inflation.
Industrial Info is tracking 1,919 refinery maintenance projects globally, worth US$10.08 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project Database can click here for a list of detailed project reports.
With large refining fleets, Asia, North America and Europe have the highest spending for refinery maintenance by region. Asia is the biggest global spender and is investing US$4.8 billion across 1,029 projects. China, India and Saudi Arabia have the largest spending by country with US$1.5 billion, US$799 million and US$496 million, respectively.
In China, where fuel demand is expected to increase, Shandong Jingbo Petrochemical Company Limited (Shandong, China) is preparing for the maintenance of three gasoline-making fluid catalytic cracking units (FCCUs) at its Binzhou Refinery in the Shandong province. Subscribers can click here for the project report.
Shandong Haihua Group Petroleum and Chemical Company Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC) is also investing significantly in the maintenance of FCCUs, gasoline hydrotreaters (GH), and diesel hydrotreater (DH) units at its Weifang Refinery. Subscribers can click here for the project report.
Despite a shrinking refinery fleet, North America has the second-largest maintenance spend, totaling US$2.8 billion across 198 projects. The U.S. is spending massively on refinery maintenance, with investments worth US$2.1 billion across 119 projects. Most of the investment is geared toward refineries in Texas (US$543 million), Louisiana (US$365 million) and Kansas (US$200 million). Higher spending is due, in part, to inflation. Coffeyville Resources Refining & Marketing LLC, a subsidiary of CVR Energy Incorporated (Sugar Land, Texas) will spend roughly 15% more on its plant-wide maintenance of the Coffeyville Refinery in Kansas than a similar project in 2020. Subscribers can click here for the project report.
Similarly, maintenance spending on Europe's decreasing refinery footprint is being hit by inflation, with US$1.2 billion across 441 maintenance projects. Most of the investment is located in Germany, Russia, Spain and the U.K. Germany's Raffinerie Heide GmbH is planning for the maintenance of ethylene and propylene units at the Heide Refinery in Hemmingstedt. Subscribers can click here for the project report.
The top global investors include China National Petroleum Corporation (CNPC) (Beijing, China), Saudi Arabian Oil Company (Saudi Aramco) (Dhahran, Saudi Arabia), Indian Oil Corporation Limited (New Delhi, India) and Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio). They hold a cumulative spending of US$2 billion and a market share of 20%. A majority of these projects are anticipated to be completed between April and October.
GMI subscribers can click here for the projects mentioned in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
Industrial Info is tracking 1,919 refinery maintenance projects globally, worth US$10.08 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refining Project Database can click here for a list of detailed project reports.
With large refining fleets, Asia, North America and Europe have the highest spending for refinery maintenance by region. Asia is the biggest global spender and is investing US$4.8 billion across 1,029 projects. China, India and Saudi Arabia have the largest spending by country with US$1.5 billion, US$799 million and US$496 million, respectively.
In China, where fuel demand is expected to increase, Shandong Jingbo Petrochemical Company Limited (Shandong, China) is preparing for the maintenance of three gasoline-making fluid catalytic cracking units (FCCUs) at its Binzhou Refinery in the Shandong province. Subscribers can click here for the project report.
Shandong Haihua Group Petroleum and Chemical Company Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC) is also investing significantly in the maintenance of FCCUs, gasoline hydrotreaters (GH), and diesel hydrotreater (DH) units at its Weifang Refinery. Subscribers can click here for the project report.
Despite a shrinking refinery fleet, North America has the second-largest maintenance spend, totaling US$2.8 billion across 198 projects. The U.S. is spending massively on refinery maintenance, with investments worth US$2.1 billion across 119 projects. Most of the investment is geared toward refineries in Texas (US$543 million), Louisiana (US$365 million) and Kansas (US$200 million). Higher spending is due, in part, to inflation. Coffeyville Resources Refining & Marketing LLC, a subsidiary of CVR Energy Incorporated (Sugar Land, Texas) will spend roughly 15% more on its plant-wide maintenance of the Coffeyville Refinery in Kansas than a similar project in 2020. Subscribers can click here for the project report.
Similarly, maintenance spending on Europe's decreasing refinery footprint is being hit by inflation, with US$1.2 billion across 441 maintenance projects. Most of the investment is located in Germany, Russia, Spain and the U.K. Germany's Raffinerie Heide GmbH is planning for the maintenance of ethylene and propylene units at the Heide Refinery in Hemmingstedt. Subscribers can click here for the project report.
The top global investors include China National Petroleum Corporation (CNPC) (Beijing, China), Saudi Arabian Oil Company (Saudi Aramco) (Dhahran, Saudi Arabia), Indian Oil Corporation Limited (New Delhi, India) and Marathon Petroleum Corporation (NYSE:MPC) (Findlay, Ohio). They hold a cumulative spending of US$2 billion and a market share of 20%. A majority of these projects are anticipated to be completed between April and October.
GMI subscribers can click here for the projects mentioned in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
