Explanatory Notes

Selected Downstream Projects

AlgeriaAngolaEcuadorIndonesiaIranIraqKuwaitLibyaNigeriaQatarSaudi ArabiaUAEVenezuela

Oil market volatility can be reduced by making the necessary downstream investments. Although basically a responsibility of consumer countries and international oil companies, OPEC Member Countries, both individually and in partnership, have taken the initiative to invest in downstream projects both inside and outside their borders.

Between end 2007 and end 2012, OPEC projects, either already under construction, being planned or under consideration, total about 3.8 mb/d of expanded refining capacity. The accumulated investment required for the realization of these projects, based on the estimations by the secondary sources, would amount to around $86.0 billion. This is part of OPEC’s ongoing efforts to ease market volatility and moderate prices to levels consistent with healthy economic growth, particularly in developing countries.

	OPEC Downstream Capacity Plans (mb/d)
OPEC Downstream Expansion Plans 2006-2011 (mb/d)	OPEC Downstream Capacity Plans