The oil refinery capacity in Thailand has shown minimal fluctuations over the last decade. In 2023, the capacity stood at 1.25 million barrels per day, a marginal increase from previous years. Year-on-year variations highlight a stable trend with minimal growth: 0.14% in 2023 and 0.15% in 2022. The compound annual growth rate (CAGR) over the previous five years is modest at 0.22%, reflecting overall stability in refinery capacities.
Future forecasts depict a slight increase to 1.26 million barrels per day by 2028, with a projected five-year CAGR of 0.09% and total growth of 0.43%. Despite these increments, the overall trend points to modest growth in capacity.
Future trends to watch for:
- Technological advancements in refinery operations could drive efficiency and capacity.- Policy changes and environmental regulations may impact future capacity expansions.- Shifts in global oil demand and production could influence Thailand's refinery capacity strategies.
