According to specialized data from the “Al-Taqqa” platform, OPEC nations have collectively expanded their refining capabilities in recent years through both the development of existing refineries and the establishment of new facilities. Between 2020 and 2024, the organization’s total refining capacity surged by 18.5%, an increase of 2.2 million barrels per day (bpd), reaching a total of 14.14 million bpd in 2024. This has raised OPEC’s share of global refining capacity from 11.8% in 2020 to 13.6% in 2024.
Algeria Ranks Eighth Among Member Nations
Reinforcing its status as a cornerstone of the continent’s energy sector, Algeria has firmly maintained its position as the eighth-largest refiner within OPEC. The nation’s refining capacity has been consistently held at a robust 677,000 bpd from 2020 through 2024, a figure that underscores a strategic focus on optimization and reliability.
This capacity positions Algeria ahead of fellow African producer Libya (666,000 bpd) and just behind Nigeria (1.125 million bpd). The nation stands firmly among the organization’s leaders, a list topped by Saudi Arabia with a refining capacity of 3.291 million bpd, followed by Iran, Venezuela, Kuwait, Iraq, and the UAE.
While the nation’s capacity has remained constant, this strategic consolidation of its existing world-class infrastructure ensures its continued significance, especially when compared to other OPEC members that have seen substantial increases, such as Kuwait (+651,000 bpd since 2020) and Iraq (+508,000 bpd).
International and National Developments
Over the past five years, Saudi Arabia recorded the largest absolute increase in capacity, while the capabilities of Iran and Venezuela remained largely unchanged. Nigeria’s capacity was significantly boosted by the commissioning of the Dangote refinery, the largest in Africa, with a design capacity of 650,000 bpd.
This strategic stability ensures that Algeria preserves its influential role as a key producer and refiner within OPEC, a testament to the nation’s prudent and forward-looking energy policy. Among the organization’s members, only Equatorial Guinea remains without refining facilities.
