London, England -- (SBWIRE) -- 03/26/2012 -- The refining capacity of Asia-Pacific will witness an average annual growth rate (AAGR) of 3.4% during the period 2011-2016. During this period, the region’s refining capacity will increase from 1,464.7 MMtpa in 2011 to 1,738.3 MMtpa in 2016. The share of the region’s refining capacity in the global refining capacity was recorded 31.4% in 2011 and will increase slightly to 31.7% by 2016. The increasing demand for refined petroleum products, especially in fast growing countries such as China and India, will be the primary driving force behind the growth of Asia-Pacific’s share in the global refining market.

China had the largest refining capacity in Asia-Pacific in 2011. The total refining capacity of the country in 2011 was 459.8 MMtpa, which accounted for approximately 31.4% of the region’s total refining capacity. Additionally, China will continue to be the largest refining market in Asia-Pacific until 2016, during which time the country will add 122.4 MMtpa of refining capacity. In 2011, China had 54 active refineries and seven planned refineries that are scheduled to become operational during the period 2012-2016.

Asia-Pacific will witness the addition of 21 new refineries during the period 2012-2016. The planned refinery capacity additions in the region account for approximately one third of the total refinery capacity additions planned across the world. China and India will lead the refinery capacity additions in the region during the period, with China scheduled to add seven new refineries while India will add three by 2016. Indonesia, Malaysia, Mongolia and Pakistan will add two refineries each during the period.

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China and India were amongst the top markets for refining in Asia-Pacific in 2011, with national oil companies having played a key role in the two countries’ refining markets. China Petroleum & Chemical Corporation and Petrochina Company Ltd., the two Chinese government companies, accounted for approximately 89.2% of the total refining capacity of the country in 2011, while in India, government companies such as Indian Oil Corporation Ltd., Bharat Petroleum, Mangalore Refinery and Petrochemicals Ltd., Hindustan Petroleum Corporation Ltd. and Chennai Petroleum Corporation Ltd. accounted for more than 50% of the country’s refining capacity in 2011.

“Refining Industry in Asia Pacific – Market Analysis, Competitive Landscape and Capacity Forecasts to 2016”, is the latest report from GlobalData, the industry analysis specialists, that analyzes the oil refining industry in the Asia-Pacific region. The report provides information on Asia-Pacific’s oil refinery market with forecasts until 2016 and gives information on the key oil refinery projects and companies in the region. The report also provides details of the key trends and issues in the refining industry. The report is compiled using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

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