The Philippines' oil refinery capacity stood at 270.95 thousand barrels per day in 2023. The forecasted data from 2024 to 2028 indicates a very gradual increase, reaching 270.98 thousand barrels per day by 2028.
The year-on-year variation from 2024 to 2025 is 0.004%, from 2025 to 2026 is 0%, from 2026 to 2027 is 0.004%, and from 2027 to 2028 is 0%. The compound annual growth rate (CAGR) from 2023 to 2028 is negligible given the minimal changes over the period.
Future trends to watch for include potential technological advancements in refinery processes, changes in global oil prices, and local policies aimed at renewable energy adoption which could impact refinery capacities and operations. Monitoring shifts in energy consumption patterns in the Philippines will be crucial for anticipating any significant changes in refinery capacity needs.
