Oil refinery capacities in Turkey exhibited a period of stability from 2013 to 2017, remaining at 596.0 thousand barrels per day. Significant growth commenced in 2018, increasing by 37.25% to 818.0 thousand barrels per day. Subsequent years saw slower, yet steady, growth through to 2023, reaching 832.0 thousand barrels per day. The average annual growth rate over the past five years was 0.34%. Future forecasts indicate continued expansion, with a projected capacity of 856.0 thousand barrels per day by 2028, translating to a 0.45% annual growth rate over the next five years.
Future trends to watch for include:
- Continued moderate increases in oil refining capacities.
- Potential impacts of technological advancements and environmental regulations.
- Shifts in geopolitical landscapes and global energy demands.
