U.S. Refining Capacity Stays Flat Between 2017 and 2018
As of January 1, 2018, U.S. operable atmospheric crude distillation capacity totaled 18.6 million barrels per calendar day, a slight decrease of 0.1% since the beginning of 2017, according to the U.S. Energy Information Administration. Industrial Info is tracking more than $30 billion in U.S. Petroleum Refining project activity.
The U.S. Southwest region, particularly the Gulf Coast, accounts for the bulk of Petroleum Refining Industry kickoffs for 2018. Among them is Phillips 66's (NYSE:PSX) (Houston, Texas) second natural gas liquids (NGL) fractionator at its refinery in Old Ocean, Texas. Construction is planned to kick off next summer and be completed in early 2019. For more information, see Industrial Info's project report.
The Midwest and Rocky Mountain regions also are looking at a strong investment value for refining projects, with $1.14 billion in refining-related projects that set to begin construction before the end of the year. That includes work in North Dakota's booming Bakken Shale, such as Meridian Energy Group Incorporated's (Belfield, North Dakota) Davis Refinery near Belfield. For more information, see Industrial Info's project report.
According to the EIA, record refinery runs have helped accommodate increases in U.S. crude oil production, which averaged 9.4 million barrels per day (BBL/d) in 2017, an increase of 4 million BBL/d in 2009.