Commodity Market Report
Philippines product markets 2021 outlook to 2050
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Report summary
Philippines had a total deficit of about 283,000 b/d for its oil products in 2020, with the deficit expected to increase to 364,000 b/d in 2021 as the economy recovers. The country had large deficits in diesel/gasoil, gasoline, and LPG. Jet/kerosene, naphtha, and fuel oil were in slight deficit. Oil product demand fell to 383,000 b/d in 2020 from 493,000 b/d in 2019, due to the impact of Covid-19. However, demand is expected to recover by 2022. In the long term, demand is forecast to continue to grow based on an average growth rate of 1.1% between 2020 and 2050, reaching 662,000 b/d in 2050. There is only one refinery in the Philippines as of 2021, with a total refining capacity of 180kb/d, following the shut of Tabangao refinery in 2020. There is no firm refinery investment in our view before 2027.
Table of contents
- LPG
- Naphtha
- Gasoline
- Jet/kerosene
- Diesel/gasoil
-
Fuel Oil
- Biofuels
- Refinery infrastructure
- Refinery investments
- Refinery supply
-
Non refinery supply
- NGLs
- Biofuels
Tables and charts
This report includes 7 images and tables including:
- Refinery throughputs and utilisation
- Refinery yields
- Refineries by type
- Non-refinery supply by product
- Non-refinery supply by source
- Net Trade by Products
- Product balances - all supply versus demand
What's included
This report contains:
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