- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
OPEC: The World Will Need an Extra 19.5 Million Bpd Refining Capacity by 2050
Posted on 7/14/25 at 7:59 am
Posted on 7/14/25 at 7:59 am
quote:
The world will need as much as 19.5 million barrels per day (bpd) of new refining capacity by 2050 to meet rising global oil demand, OPEC said in its 2025 World Oil Outlook (WOO) with forecasts through the middle of the century.
Overall, OPEC expects global oil demand to continue rising by 2050, with global oil demand projected to increase by more than 19 million bpd between 2024 and 2050, reaching nearly 123 million bpd.
India, Other Asia, the Middle East, and Africa are set to be the primary sources of long-term oil demand growth. Combined demand in these four regions is set to increase by 22.4 million bpd between 2024 and 2050, with India alone adding 8.2 million bpd and being the single largest demand driver. Chinese demand growth is set to slow materially, while developed economies will see a decline in oil consumption by 2050.
However, emerging economies in Asia, Africa, and the Middle East, as well as recent policy shifts and an improved economic outlook, will drive robust growth in the medium and long term, according to OPEC.
“There is no peak oil demand on the horizon,” the cartel’s Secretary General Haitham Al Ghais wrote in the foreword to the WOO published on Thursday.
As oil demand is set to grow, refining additions will be needed to meet said demand.
quote:
The global annual average rate of capacity additions for the period from 2024–2030 is estimated at just below 1 million bpd, OPEC said.
Refining capacity is set to increase by another 7.3 million bpd between 2030 and 2035, due to growing demand in most developing regions.
Around 3 million bpd is set to be added between 2035 and 2040, and only 1.2 million bpd in the 2045-2050 period, according to OPEC’s forecasts.
LINK
9
Posted on 7/14/25 at 8:03 am to ragincajun03
Good luck getting corporate America to agree to a refinery build.
Posted on 7/14/25 at 8:08 am to ragincajun03
Ok now convert that to units of wind turbines
Posted on 7/14/25 at 8:15 am to Gee Grenouille
quote:
refinery build.
What's the Per Diem rate?
Posted on 7/14/25 at 8:23 am to LSURoss
quote:
What's the Per Diem rate?
3fitty.........
If the US wants this done, the tax payers will have to fund the build and develop the O&G supply chain from the GoA, then sell it to the highest bidder as a pre-approved facility. Corporations aren't going to take the chance on it.
And I would be fine with that arrangement.
Posted on 7/14/25 at 9:07 am to ragincajun03
I'll be looking to retire around then so this is excellent news. Truck nuts on for life!
Posted on 7/14/25 at 9:12 am to ragincajun03
Naive question here: do we have any idea how much total oil is in the planet?
I mean, we’re digging down to tap into a source, right? There has to be a point where it’s drained empty.
I mean, we’re digging down to tap into a source, right? There has to be a point where it’s drained empty.
Posted on 7/14/25 at 9:44 am to StringedInstruments
quote:
Naive question here: do we have any idea how much total oil is in the planet?
I have the same question. At some point we're going to run out and the entire world will be fricked.
It's not going to happen within my or my kids' lifetime, but my great grand kids my have this problem to deal with.Posted on 7/14/25 at 10:44 am to StringedInstruments
quote:
I mean, we’re digging down to tap into a source, right? There has to be a point where it’s drained empty.
There is not really a single source. Although there are different ideas out there, the most accepted theory is that hydrocarbons were formed by organic matter (plants, dinosaurs, etc.) being buried for millions of years. The oil and gas is typically not found in underground "caves" or pools - rather, it exists in the pore space within rock. And it can migrate within the rocks until it is trapped by some type of underground feature (like a fault or impermeable rock). Therefore, the oil and gas exploration business is not so much about tapping into a single source, but more about finding these traps...some are big, some are not. On top of this, technology advances allow more accumulations to be found, and more volumes to be extracted once an accumulation is found.
Posted on 7/14/25 at 10:49 am to Hammond Tiger Fan
quote:
At some point we're going to run out and the entire world will be fricked.
Yep. We have no suitable replacement for oil. It's in damn near everything. Perhaps we'll develop or discover one in 100 years.
Posted on 7/14/25 at 10:52 am to fallguy_1978
How Dare You
Posted on 7/14/25 at 10:55 am to ragincajun03
I guess they didn't factor in any global pandemics.
Posted on 7/14/25 at 10:57 am to StringedInstruments
quote:one day your dead organic molecules will be transformed to carbon fuel for future generations to burn
There has to be a point where it’s drained empty.
Posted on 7/14/25 at 10:59 am to ragincajun03
They need to stop wasting oil on the 3rd world. Us Americans need to be able to affordably fill up our boats and side by sides
Posted on 7/14/25 at 11:07 am to StringedInstruments
quote:
I mean, we’re digging down to tap into a source, right? There has to be a point where it’s drained empty.
We haven't even started tapping into the Mayan sacrifices. Not sure if they've fully made the conversion yet.
This post was edited on 7/14/25 at 12:00 pm
Posted on 7/14/25 at 11:29 am to ragincajun03
It's articles like this that proved how much bullshite the "climate change" industry" is.
I have long said that every drop of oil and gas that can be recovered on this planet, will be recovered.
Any talk of slow downs or stoppages in drilling are just people playing the game.
I have long said that every drop of oil and gas that can be recovered on this planet, will be recovered.
Any talk of slow downs or stoppages in drilling are just people playing the game.
Posted on 7/14/25 at 11:33 am to fallguy_1978
quote:
Yep. We have no suitable replacement for oil. It's in damn near everything. Perhaps we'll develop or discover one in 100 years.
We have technically suitable or even superior replacements for oil, the synthetic oil in your new car is just one of them.
But it doesn't come out of the ground almost for free (net energy-wise) like petroleum does. O&G is essentially energy from the sun stored underground for millions of years.
Posted on 7/14/25 at 11:35 am to StringedInstruments
quote:
Naive question here: do we have any idea how much total oil is in the planet?
I mean, we’re digging down to tap into a source, right? There has to be a point where it’s drained empty.
It was billed as fossil fuels to create a sense of scarcity to drive prices.
It is believed crude oil is a naturally formed geological composition formed deep within the earth. It is constantly being reformed under incredible pressure and temperature. Not the remains of an old T rex and ferns.
Posted on 7/14/25 at 11:39 am to Cuz413
quote:
It was billed as fossil fuels to create a sense of scarcity to drive prices.
It's also quite expensive to get out the ground and to market.
Posted on 7/14/25 at 1:36 pm to Gee Grenouille
And now an update along this theme, more from OPEC's Secretary General:
LINK
quote:
In an exclusive interview with Energy Connects at the OPEC Secretariat in Vienna, His Excellency Haitham Al Ghais, OPEC Secretary General, spoke to Chiranjib Sengupta about the latest insights from the World Oil Outlook, the critical need for $18.2 trillion investments in oil & gas by 2050 and why oil & gas are not the villains of energy transition but the essential pillars of a stable and secure energy future. Speaking on the occasion of the 9th OPEC International Seminar, His Excellency highlighted how energy demand will increase 23% by 2050 and oil demand reach 123 million barrels a day by that period. His Excellency also shared his perspectives on the decade-long journey of OPEC+ , staying united and cohesive to achieve market balance and stability for both producers and consumers and how oil & gas companies are showing the pathways to a lower-carbon future.
LINK
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News