Turner, Mason & Company has been monitoring global refining projects for over ten years. These efforts have become an integral component of our biannual Crude and Refined Products Outlook. It was recognized early in this process that while many projects may be announced, and often with great fanfare, most would likely not be constructed. As a result, it became necessary to compile a second list of projects that we felt were likely to be completed.
The Comprehensive Refinery Construction Outlook (Comprehensive) contains all announced expansions and additions; regardless of the level of backing or likelihood of completion. The second list contains only those projects which we assess, using a series of criteria, as likely to be constructed. This second compilation, the Probable Refinery Construction Outlook, appears in our Crude and Refined Products Outlook. While the Comprehensive Refinery Construction Outlook has been available as a separate product for several years, it existed only in an Excel spreadsheet format and no analysis was provided. We have now undertaken the effort not only to upgrade these spreadsheets but also to provide background commentary and analysis. Release of the Comprehensive Refinery Construction Outlook will coincide with the biannual release dates of the Crude and Refined Products Outlook.