Energy consultancy firm NexantECA predicted on Wednesday that oil refineries in the Middle East will add 618,000 barrels per day to their production capacity by 2029, with Iraq leading the way.

According to the report, "Middle Eastern oil refineries are expected to increase production capacity by 618,000 barrels per day by 2029, transforming the region into a net exporter of approximately 6 million barrels per day by 2030 and nearly 7 million barrels per day by 2040."

The report highlighted that Iraq plans to expand production at Baiji and Diwaniyah by 70,000 barrels per day each and add 100,000 barrels per day from Dhi Qar .

It also noted that Iran will add 60,000 barrels per day in South Adish by the third quarter of 2025, while the fourth PGS production line will contribute 120,000 barrels per day by the fourth quarter of 2026, and Aftab will increase output by 60,000 barrels per day in the first quarter of 2027.

In Bahrain, the Bapco refinery will boost capacity by 113,000 barrels per day in the second or third quarter of 2025, while the Duqm refinery in Oman will add 25,000 barrels per day in the current quarter through "debottlenecking," according to the company.

The report also mentioned that Oman, the UAE, and Saudi Arabia have a few projects in the pipeline, but they are awaiting final investment decisions and funding.