Not really a big deal. The numbers are cumulative. The Reliance Brownsville Texas facility will only process 60 million barrels per year. That's 1% of annual US refining capacity.
> It's interesting to both see Asian majors and EPCs increasingly dominating the petrochemical chain
You really don't want downstream in your backyard, though. The environmental oversight in these countries is...less. Meanwhile, it's a hyper competitive industry with low margins so adding new capacity only works in places with cheap labor and less red tape.
“especially given that a net new refinery hasn't been built in the US in 50 years.”
Existing large refineries have done some massive expansion projects in the last couple of decades, adding the equivalent of a several new refineries. It is often easier to do this than build a new grass roots refinery.
Example projects:
MPC Garyville +180 MBD (2009)
Motiva Port Arthur +325 MBD (2012)
XOM Beaumont +250 MBD (2023)
> It's interesting to both see Asian majors and EPCs increasingly dominating the petrochemical chain
You really don't want downstream in your backyard, though. The environmental oversight in these countries is...less. Meanwhile, it's a hyper competitive industry with low margins so adding new capacity only works in places with cheap labor and less red tape.