REGIONAL

New refineries and capacity expansions will see Gulf refiners oil products’ exports rise to 1mn b/d from 2015, a level they are set to maintain to 2020, MEES analysis indicates. This will come despite domestic products consumption rising from an average 5.55mn b/d in 2013 to an estimated 6.48mn b/d in 2020.

The leeway for a potential steady export of refined products, bringing Gulf governments additional revenues in comparison to an equivalent volume of exported crude oil,...