Worldwide investment in refining will increase significantly in the next decade. Historically, capital spending in the US refining industry was generally in the $3 billion to $4 billion/yr range betwe..
Worldwide investment in refining will increase significantly in the next decade. Historically, capital spending in the US refining industry was generally in the $3 billion to $4 billion/yr range between 1997 and 2000. This has increased to $6 billion to $7 billion in the past three years, representing approximately 2% of the replacement cost of the industry.
"As we all know, these investments have been dominated by defensive capital spending for environmental, clean fuels and other noneconomic projects," says Michael Leger of downstream consultancy Turner, Mason & Co.
Speaking at the recent NPRA annual meeting, he forecast that new refi
Log in to view this article.
Not Yet A Subscriber? Here are Your Options.
1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Hydrocarbon Processing magazine.
2) SUBSCRIBE to Hydrocarbon Processing magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the HP archives per month. $409 for an annual subscription*.
3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the HP Archive, the HP Process Handbooks, HP Market Data, and more. $1,995 for an annual subscription. For information about group rates or multi-year terms, contact email Peter Ramsay or call +44 20 3409 2240*.
*Access will be granted the next business day.