Global Capacity and Capital Expenditure Outlook for Oil and Chemical Storage, New Report Launched
The pipeline of planned oil and chemical storage projects will push global capacity from 5,700 mmbbl in 2015 to almost 6,195 mmbbl by 2019, at growth of 15%. Asia, Middle East and North America will collectively drive new construction of oil and chemical storage terminals, totalling to US$37 billion in capital expenditure. The storage capacity in Asia is set to increase by around 368 mmbbl, amounting to about 50% of global capacity growth by 2019.
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