Economics

Executive Viewpoint: Fuels and petrochemicals will continue to help humanity thrive

A 15-yr rise in U.S. exports of refined products continued in 2019 with the nation exporting more than ever, underscoring the importance of these products to fueling a growing world. In the latter half of the last decade, U.S. petrochemical production capacity increased—with more than $20 B invested in domestic petrochemical projects in the last 2 yr alone—and exports of petrochemicals and petrochemical feedstocks rose, as well.

Viewpoint: How digital transformation impacts daily manufacturing operations

With the ever-increasing speed of technology innovation around the Industrial Internet of Things (IIoT) and cloud offerings, industrial manufacturers are evaluating how these new solutions can impact their daily operations. Specifically, they are looking at how these innovations enable real-time, actionable insights across processes, assets and the workforce. These insights allow for quicker and more informed decisions, thereby driving efficiency and profitability.

Brazilian developments in the biofuels market

Since the 1970s, Brazil has been a world reference in automotive biofuels, especially bioethanol produced from sugarcane. In 1973, the Organization of the Petroleum Exporting Countries (OPEC) forced a sharp rise in oil prices, triggering a massive slowdown in the country’s economic growth, which had been going through what was dubbed the “economic miracle,” with growth at an average of 12% of GDP. This study gives an overview of the biofuel sector in Brazil, along with the main business challenges and opportunities in this area.

Circular economy: Getting in the door of opportunity ahead of a vanishing polymer market

Significant change is coming to the hydrocarbons industry. Up to 43% of the global conventional polymer production expected by 2040 may disappear due to circular economy (CE) initiatives. In addition, due to the growth in wind turbines and solar panels, and in lightweight composite materials in cars and planes, advanced materials waste is just beginning.

Fluid Flow: Energy markets, product improvements drive growth in the global flowmeter market

The size of the global flowmeter market has followed the upward and downward fluctuations in oil prices and is now on an upward trajectory, according to a new study by Flow Research that provides total global market shares of the major suppliers of each flowmeter technology (except sonar and optical) by 2018 revenues.

Roundtable: The skills gap: How to bridge it and how to close it

The skills gap is not a new phenomenon for the oil and gas sector. An aging workforce and increased competition for tomorrow’s technical talent have left the industry nervous about its future. On the heels of the 2019 Global Energy Talent Index (GETI), a panel of experts came together to discuss the sector’s ongoing struggle with the skills gap and what oil and gas/energy companies can do about it.

Reliability: Things rarely heard at reliability conferences

We can only guess how many reliability conferences we have attended since accepting job offers in the refining or chemical processing industries. In my case, starting in 1965, it is somewhere between 60 and 80. If, in each of these conferences I listened to six presentations, the number of sessions attended is perhaps 400.

Editorial Comment: Processing a sustainable future

An emerging topic along the entire oil and gas value chain is the move toward <i>sustainability.</i> Each company has a somewhat different definition of what sustainability means to its operations.

Onsite

Business Trends: EPC 2030: Five vital characteristics that will define the EPC firm of tomorrow

The state of the global engineering, procurement and construction (EPC) industry can accurately be described as “challenging.” Operating in an environment of volatile, uncertain, complex and ambiguous conditions, EPC firms are facing unsustainable levels of stress.